Transcript Slide 1

Integrated reporting
Is it just a buzz word… or is it a new way of
thinking?
Kirsten Simpson
Manager Corporate Sustainability, VicSuper
What is integrated reporting?
• Integrated reporting is a market-led response to today’s corporate
reporting challenges.
• It is principles based and aims to provide benefits to both business and
investors.
• Business needs a reporting framework that helps them to articulate
strategy, drive performance and attract capital.
• Investors need to understand how the business strategy being pursued
creates value over time.
Who developed the Framework?
• The International Integrated Reporting Council (IIRC) governs the
Framework.
• Business and investors from over 25 countries have pioneered the
development of the International Integrated Reporting Framework.
• AMP, Government Employees Pension Fund of South Africa, Goldman
Sachs, Groupama, ING, State Street Global are just a few of the 35-plus
investor organizations that have contributed to the Framework.
What is an integrated report?
It is a concise communication that aims to provide stakeholders with
a holistic picture of how your business operates so that they can
make fully informed decisions.
Integrated
reporting
principles
Consistency
and
comparability
Strategic focus
and future
orientation
Reliability and
completeness
Materiality
Stakeholder
relationships
Conciseness
Connectivity
of
information
What does an integrated report look like?
Why VicSuper adopted integrated reporting
• We have been reporting on our financial and non-financial
reporting suing the global best practice GRI guidelines for the last
decade.
• We were looking for an outcomes based framework to help us
evolve and clearly tell our value generation story.
• If we ask the companies we invest in to disclose financial and nonfinancial performance then we should lead by example.
Key benefits
• A much shorter and relevant report!
• Break down of internal information silos
• Engagement across the business.
• Clear articulation of our business model and how each part of our
business generates value for us, our members and other
stakeholders.
• Better understanding of how our key governance and risk systems
link to our strategy and how we measure performance.
Challenges
• Transition to the newest version of the GRI G4 and Integrated
Reporting while maintaining independent assurance.
• Getting the materiality process right.
• Bringing the entire VicSuper team along on the journey.
• Tight timeframes and publication deadlines.
• PDF, desktop, tablet and mobile digital deployment.
Where is integrated reporting headed
• The Framework is supported by global institutions including
the World Bank, the Principles for Responsible Investment and
global accounting/assurance bodies.
• The IIRC have taken the Framework to the B20 to drive global
take up.
• The Framework is here to stay and overtime it will
revolutionise how companies report to their stakeholders.
Producing an integrated report is one thing….
the real benefits result from the integrated
thinking it promotes!
To learn more join the
Integrated Reporting Global Pension Network