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Regular version of the site
15
April

The IIRC’s Global Conference 2020

The IIRC’s Global Conference 2020 was held from 30th November to 2nd December.This is the IIRC’s flagship annual event, attracting hundreds of senior corporate stakeholders and subject-matter experts from 35+ countries and a wide variety of industries. This year, the IIRC is revising its international reporting framework, and is calling for market feedback on specific themes that will inform the nature and direction of the revision.

Towards a global corporate reporting system.

Results of the anniversary conference of the International Integrated Reporting Council, Kuzubov S.A., Associate Professor

From 30.11 to 02.12.20 representatives of the HSE School of Finance participated in the IIRC global conference "Sustainable value creation in an interconnected world". International business leaders, investors, financial experts and academics from all over the world summarized the results of the first 10 years of integrated reporting and discussed the ways of its further development.

Where the integrated reporting begins? Vysotskaya A.B., Associate Professor

IIRC’s Global Conference 2020 provided a platform for a broad discussion on the pathways to sustainability.

The main issues raised by speakers go in line with the global needs for sustainable development as a one of the key challenges. Broader value creation, how companies can contribute to our future, evolution of the concept of materiality - these are the key issues to address nowadays by business society.

The world is rapidly switching from Traditional to Integrated Reporting and therefore we will no longer be able to focus only on financial information, nor we will be able to afford a retrospective view with limited disclosures.

Kokurina A.D., senior lecturer

During the day, conference participants had the opportunity to choose among various sessions to discuss specific topics and develop common recommendations. At the round table on Integrated Reporting Assurance, experts and practitioners shared opinions, thoughts, and suggestions for improvement in general assurance practices related to integrated reporting.  

Makeeva E.Y., Associate Professor

From November 30 to December 2, 2020, an international online conference IIRC's Global Conference was held, dedicated to the role of Integrated Reporting (IR) in companies' compliance with ESG criteria, which has become a global trend in the last ten years. During the conference, over ten panel discussions were held, as well as a series of seminars and workshops, where experts from a number of companies, educational and government institutions shared their views on several important issues listed below.

6 types of capital in corporate reporting and strategy (6 caps approach). In the IIRC's recommendations, as well as in the practice of a number of companies (for example, Munich Airport, Tata Steel Group and others) on the development of strategy and integrated reporting, the concept of 6 types of capital is used as a base: Natural, Social, Human, Intellectual, Financial and Material (industrial ). The speakers emphasized the key role of integrating all types of capital in the ESG factor management system.

The relationship between integrated thinking and integrated reporting. Representatives of companies and NGOs who took the floor noted that the components of the ESG, which are disclosed by modern investors with heightened expectations, include the E (Environmental - environment and climate risks) and S (Social - CSR) components. At the same time, investors are much more focused on E in comparison with S: for example, according to O.I.R.B. (Italy), climatic risks are taken into account when making decisions by 86% of investors, while risks of social reputation and the use of human capital are estimated at 45% and 36%, respectively.