About this video

• Video Title: Integrated Reporting Explained
• Channel: Edspira
• Speakers: None explicitly mentioned
• Duration: 00:08:23

Overview

This video explains the concept of Integrated Reporting (IR), its framework, and its benefits. It was introduced to provide a more holistic view of a company's value creation beyond short-term profits by considering various resources (capitals) and their impact on stakeholders and the environment. The video contrasts IR with traditional financial reporting and CSR reports, discusses the components of an integrated report, and touches upon its future.

Key takeaways

• What is Integrated Reporting: Introduced in 2010 by the International Integrated Reporting Council (IIRC), IR is a process founded on integrated thinking that results in a periodic report showing how an organization creates value over time. It aims to reduce the focus on short-term profits.
• Integrated Thinking: This involves a company considering the relationships between its business model and the resources it uses to create value across short, medium, and long terms, understanding trade-offs and acting holistically within a greater system.
• The Six Capitals: Integrated reporting considers six types of resources: financial, manufactured, intellectual, human, social and relationship, and natural capital. This provides a broader perspective than traditional reporting, which often focuses only on financial and manufactured capital.
• Integrated Report vs. CSR Reports: While CSR reports are stand-alone and focus on non-financial disclosures, integrated reports combine both financial and non-financial disclosures. An integrated report connects a company's sustainability practices to its financial results and long-term strategy for value creation.
• Benefits and Costs: Benefits include reduced short-term thinking, better assessment of risks, increased shareholder engagement, holistic strategic planning, and improved decision-making. Costs involve data collection, analysis, implementing new systems, assurance services, and disclosing proprietary information.
• Usage and Future: Over 2500 organizations in 75 countries use integrated reporting, with South Africa being a notable example of a country requiring it. The future of IR is linked to the development of sustainability standards by bodies like the ISSB, aiming for greater reliability and comparability.

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Key Takeaways from "Integrated Reporting Explained"

• What is Integrated Reporting: Introduced in 2010 by the International Integrated Reporting Council (IIRC), IR is a process founded on integrated thinking that results in a periodic report showing how an organization creates value over time. It aims to reduce the focus on short-term profits.
• Integrated Thinking: This involves a company considering the relationships between its business model and the resources it uses to create value across short, medium, and long terms, understanding trade-offs and acting holistically within a greater system.
• The Six Capitals: Integrated reporting considers six types of resources: financial, manufactured, intellectual, human, social and relationship, and natural capital. This provides a broader perspective than traditional reporting, which often focuses only on financial and manufactured capital.
• Integrated Report vs. CSR Reports: While CSR reports are stand-alone and focus on non-financial disclosures, integrated reports combine both financial and non-financial disclosures. An integrated report connects a company's sustainability practices to its financial results and long-term strategy for value creation.
• Benefits and Costs: Benefits include reduced short-term thinking, better assessment of risks, increased shareholder engagement, holistic strategic planning, and improved decision-making. Costs involve data collection, analysis, implementing new systems, assurance services, and disclosing proprietary information.
• Usage and Future: Over 2500 organizations in 75 countries use integrated reporting, with South Africa being a notable example of a country requiring it. The future of IR is linked to the development of sustainability standards by bodies like the ISSB, aiming for greater reliability and comparability.