South Africa's Integrated Reporting Framework

On 25 January 2011 Professor Mervyn King, the chairman of the Integrated Reporting Committee' (IRC) in South Africa, released a Discussion Paper Framework for Integrated Reporting and the Integrated Report. The Discussion Paper was open for public comment for a period of 90 days to 25 April 2011. The IRC thanks the many organizations and individuals who submitted their written comments to ircomments@saica.co.za The IRC also thanks the people who attended the public consultation sessions held in Johannesburg, Cape Town and Durban. The written comments are currently being considered by the IRC along with an analysis of the international framework and the Paper will be re-issued before the end of the year.
To download the Discussion Paper click here >>  
To read the IRC media release dated 12 October 2011 click here >>
To read the IRC media release dated 12 September 2011 click here >>
To read the IRC media release dated 20 July 2011 click here >> 
To read the IRC media release dated 25 January 2011  click here >>  
To read the public comment letters received  on the Discussion Paper click here>> 
To view a video of Professor Mervyn King, the chairman of the IRC, talking about integrated reporting click here (part 1) >> and click here (part 2) >>

The international Integrated Reporting Framework

On 12 September 2011, the International Integrated Reporting Committee (IIRC) released a Discussion Paper entitled Towards Integrated Reporting – Communicating Value in the 21st Century. The Discussion Paper is open for public comment until 14 December 2011. The Discussion Paper, the IIRC's media release and FAQs are available on www.theiirc.org

IIRC appoints Professor Mervyn King as chairman to lead next steps of Integrated Reporting Framework

To read the media release click here >>

Latest from the United Nations on sustainability issues 

Report Links Sustainability of Corporations to Ecosystem Services

5 October 2011 London - Assisting companies to report their links to and dependence upon ecosystems such as freshwaters, soil fertility and pollination services is the focus of a new publication released today by the Global Reporting Initiative (GRI), the United Nations Environment Programme World Conservation Monitoring Centre (UNEP-WCMC) and CREM. >>Read more 
Making the Economic Case for Greening Cities 

Global Investments in Green Energy Up Nearly a Third to US$211 billion

Potential of Renewable Energy Outlined in Report by the Intergovernmental Panel on Climate Change

Agriculture and Food Production.

New UN report warns of risks of biological production of renewable energy 

Road to integrated reporting

KPMG has issued a new booklet on integrated reporting. The booklet covers the questions commonly asked about integrated reporting, the business case for reporting, and includes the South African experience of integrated reporting.  Read more>>  

Investors lead the way

On September 20, 2011, an investor-led coalition with $1.6 trillion in assets called on United Nations' member states to require both listed and large unlisted companies to integrate sustainability information with their annual reports or explain why not. Aviva Investors' CEO Paul Abberley announced a "call to action" at the UN Private Sector Forum on Sustainable Energy for All, held alongside the General Assembly. To read the media release  Click here >>  

COP 17 is in Durban

The 17th United Nations conference will take place in Durban, South Africa from 28 November to 9 December 2011. The Conference of the Parties (COP) is an annual meeting of the countries that have signed the United Nations Framework Convention on Climate Change (UNFCCC), which is an international treaty aimed at reducing greenhouse gas emissions. For more information click here >>

If not now, when?

Michael Krzus, the co-author of “One Report” , sets out his latest thoughts on integrated reporting in a new article “Integrated reporting: if not now when?” The article was first published in IRZ – Zeitschrift für Internationale Rechnungslegung 6/2011, p. 271-276, and is reproduced here by kind permission of the publishers C. H. Beck oHG, Munich, Germany (http://www.irz-online.de). To read the article click here >>

South Africa's Carbon Tax Update

In December 2010 South Africa’s National Treasury released a the much-anticipated discussion paper on a proposed carbon tax. The proposals were open for public comment until 28 February 2011. A response to the discussion paper is expected from National Treasury late this year or early next year click here >>

Free eBook on integrated reporting

"The Landscape of Integrated Reporting: Reflections and Next Steps" is a compilation of 64 articles by various authors.  It offers a good insight into the current issues and challenges of integrated reporting.  As Professor Bob Eccles of Harvard Business School says:  “ It is a snap shot of the current state of integrated reporting that, to mix metaphors, puts a stake in the ground by which we can evaluate our collective progress over time".  To download the free eBook click here >>

Read blogs from Professor Mervyn King and Leigh Roberts on integrated reporting and sustainability issues

Excellence in Corporate Reporting Awards 2011

Ernst & Young released the results of its annual awards in September 2011.  The annual reports of South Africa’s top 100 companies and top 10 state-owned entities were rated on a mark plan that includes non-financial disclosures. To read the survey results click here >>

Who does what in sustainability reporting

For a comprehensive list of the voluntary and mandatory sustainability reporting guidelines in over 30 countries, take a look at KPMG’s latest “Carrots and Sticks” report. The report also covers international and national assurance standards. It outlines future trends in sustainability reporting, one of which is the move to integrated reporting.
>>Click here

Does the market really care?

An often asked question is whether or not investors ('the market') care about integrated reporting, and for that matter sustainability reporting. Author Michael Krzus says: The answer is increasingly "Yes, it does," but the data supporting this claim is all pretty high-level, such as growth in assets being managed by SRI funds and the increasing number of signatories to the UNPRI. Krzus, along with Curtis Ravenel of Bloomberg, Bob Eccles, George Serafeim (also of HBS), wrote a paper, "Market Interest in Nonfinancial Information," that analyzes particular metrics the market is looking at and discusses the implications for managers. The HBS Working Paper is available on this link .

According to the Ministry of Water and Environmental Affairs Water is the primary medium through which climate change will impact on humans and the environment

FEE issues guide on sustainability reporting frameworks

The Sustainability Group of the Federation of European Accountants (FEE) has issued a guide to commonly used sustainability reporting guidance documents when considering the identification and use of environmental, social and governance (ESG) indicators. The guidance documents selected by the FEE were based on relevance, involvement of European accountancy national institutions, international applicability, and range of technical observations at the international level. Due to a lack of consistency between the documents, FEE suggests a need to find a common methodology on how to use the various documents. In order to reduce the risk of missing material and relevant key performance indicators when deciding what information should be reported, FEE recommends an entity should use the following criteria: relevance, materiality, consistency and reliability. Read more>>

IFAC's new Sustainability Framework

The International Federation of Accountants (IFAC) has released an impressive new version of its Sustainability Framework. It's a guide to organisations on integrating sustainability. IFAC says that embracing sustainability and corporate responsibility from three perspectives—strategy, operations, and reporting—is critical to gaining the trust of stakeholders and the wider public, and ultimately ensuring sustainable value creation. The Framework provides a comprehensive view of some of the current best practices globally in each of the three areas, and is applicable to entities of all sizes and levels of complexity.
To download the Framework click here >>

Report environmental transgressions in South Africa to the Green Scorpions on 0800 205 005

"Simplifying our external annual reporting in order to better meet the needs of our stakeholders, this year’s Annual Report covers both our financial and our social and environmental performance in a single volume. This reflects the fact that sustainability is no mere adjunct, but rather embedded in the very fabric of our business operations." Philips 2008 Annual Report

Need info on sustainability issues and research in SA?

The South African Risk and Vulnerability Atlas offers an up-to-date electronic database and information system. The site consolidates the latest research findings in aspects such as water, forests and biodiversity, as well as social dimensions like human health. The site is continuously updated with new national and international research. The site is the brainchild of the Department of Science & Technology - they hope it will bridge the divide between scientists and policy makers and business decision-makers. >>Read more

South Africa’s Responsible Investing Code

The final Code for Responsible Investing by Institutional Investors in South Africa was released in Johannesburg on Tuesday 19 July 2011. The Code seeks to encourage institutional investors and their service providers (asset, fund managers and consultants) to put in place measures aimed at ensuring responsible investing. The Code is voluntary on an “apply or explain” basis. The Code consists of five principles and related recommendations. This makes South Africa the second country after the UK to have a code for institutional investors.
To download the Code click here >>    
To read the Finance Minister’s speech click here >>

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