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Paul Druckman

Paul Druckman. Chairman, Executive Board - The Prince’s Accounting for Sustainability Project ( A4S ) Co-chair, IIRC Working Group. Amsterdam - April 2011. "towards a new model.. integrated reporting". 1960 1980 2000 2020 . Evolution of reporting.

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Paul Druckman

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  1. Paul Druckman • Chairman, Executive Board - The Prince’s Accounting for Sustainability Project (A4S) • Co-chair, IIRC Working Group Amsterdam - April 2011 "towards a new model.. integrated reporting"

  2. 1960 1980 2000 2020 Evolution of reporting

  3. Integrated Reporting – focussing on the top slice Sets a framework to encourage greater linkage between existing reporting silos.

  4. Why the IIRC was established “To create a globally accepted Integrated Reporting framework which brings together financial, environmental, social and governance information in a clear, concise, consistent and comparable format. The aim is to help with the development of more comprehensive and comprehensible information about organizations, prospective as well as retrospective, to support transition to a more sustainable global economy.” • Bring togetherfinancial standard setters (IASB, FASB, IFAC), securities regulators (IOSCO) and sustainability standard setters (GRI, AccountAbility) with representatives from companies, investors and civil society to develop and implement an integrated reporting model • Facilitate convergence to increase consistency, avoid reporting burden and enable comparability on an international basis

  5. IIRC Membership - extract • Sir Michael Peat, Principal Private Secretary to TRH The Prince of Wales and The Duchess of Cornwall (Chairman) • Professor Mervyn King, Chairman, King Committee on Corporate Governance and Chairman, GRI (Deputy Chairman) • Charles A. McDonough, Vice President and Controller, The World Bank • GöranTidström, President, IFAC • Professor Nelson Carvalho, Universidade de São Paulo, Brazil Chairman, 25th Session of UNCTAD’s ISAR • Paul Clements-Hunt, Head of Unit, UNEP FI • Jane Diplock, Chairman of the New Zealand Securities Commission and Executive Committee of the IOSCO • Robert Eccles, Harvard Business School • Leslie Seidman, Chairman, FASB • IshaatHussain, Chief Financial Officer, Tata • Professor AngelienKemna, Chief Investment Officer, APG • Huguette Labelle, Chair, Transparency International • Dennis Nally, Chairman, PricewaterhouseCoopers International Limited • Atsushi Saito, President & CEO, Tokyo Stock Exchange Group, Inc • Rick Samans, Managing Director, WEF and Chairman, CDSB • Jim Singh, Chief Financial Officer, Nestle • Sir David Tweedie, Chairman, IASB • Christy Wood, Chair, ICGN

  6. Underlying it all.....

  7. Roadmap – making a vision a reality

  8. Immediate Work Plan

  9. 2011 Key milestones Discussion Paper G20proposals Public consultation Call for evidence Regional round-tables October 2010 March /April 2011Stakeholder workshops Late May 2011 Public consultation ending 31 July 2011 November 2011 Jan 2011 May 2011 Sept 2011 • Meetings • - IIRC • Working group • - Pilots Beijing NewYork São Paolo Oct 2010 Feb 2011 Aug 2011 Oct 2011 Pilots conducted Mar 2011 Kick-off June-July 2011 Ongoing engagement and consultation Newsletters ; Online integrated reporting community forum discussions ; Presentations at conferences, seminars and other meetings ; One-to-one meetings 11

  10. Roadmap – making a vision a reality

  11. Building momentum – sample Proposals to G20 Finance ministers & Heads of State Oct/Nov Building portfolio of public statements of support PRI clearinghouse call – September (TBC) WFE call to G20, Cape Town, October G8 CR initiative Paris September Regional Roundtables from April 2011 ICGN, Paris September WEF, Davos January UNEP-FI October IIRC, New York /Washington May Pilot Programme commencesSeptember World Federation of Exchanges (WFE) Mexico, March IIRC, Beijing January One on one engagement with Government, Sherpas, Business, Investors & other opinion leaders

  12. Roundtables – an indication Davos 27 January with WEF US NY – June LA – July with AICPA & others Brussels 17 June with FEE Paris [June] with Credit Agricole Sydney April 11th. with BRLF Mumbai 19 January with GRI & GTZ Rio [July] [with GRI] Frankfurt 21 June with DVFA Japan [tbc] London 15 Dec 10 with A4S

  13. IR Pilot Programme

  14. Contents of the Discussion Paper PART I Background/Preface - Who is IIRC, high-level vision, 2-year plan Executive Summary • Introduction • What is IR? • Business case • Vision • Roadmap, enabler and barriers PART II The Framework • Model • Principles • Elements

  15. E X T E R N A L F A C T O R S BUSINESS MODEL:HOW THE ORGANIZATION CREATES VALUE RISKS AND OPPORTUNITIES RESOURCE & RELATIONSHIP MANAGEMENT POOL OF FIVE CAPITALS Financial and Manufactured Human Intellectual Natural Social POOL OF FIVE CAPITALS Financial and Manufactured Human Intellectual Natural Social STRATEGIC OBJECTIVES PERFORMANCE GOVERNANCE STRATEGIES OPERATIONS& PROCESSES L TIMELINE Medium Short Longer I N T E G R A T E D R E P O R T I N G

  16. “5 Capitals” Financial capital: Intellectual Capital: Human capital: Natural capital: Social capital:

  17. Your contribution...... Educate, influence and communicate Comment on Discussion Paper Potential pilots

  18. www.theiirc.org paul@druckman.co.uk

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