The biggest global names in corporate reporting — CDP, the Global Reporting Initiative, the Climate Disclosure Standards Board, the Financial Accounting Standards Board, IASB, ISO, SASB and the International Integrated Reporting Council — have published a landscape map that provides a snapshot of a comparison of their frameworks, standards and related requirements through the lens of integrated reporting.
These eight organizations strengthened their cooperation in 2014 through the Corporate Reporting Dialogue, an initiative designed to respond to market calls for greater coherence, consistency and comparability between frameworks, standards and related requirements.
The organizations say confusion has led to market participants struggling to understand how these frameworks, standards and related requirements could be used together to enhance corporate reporting. As an initial unified response, the Dialogue has developed the online map.
Nestlé VP Janet Voûte says as a user of the different frameworks, insight as to how they align will help Nestlé and any business that is committed to corporate reporting.
Chair of the Corporate Reporting Dialogue, Huguette Labelle, says the map is just the first product of the Dialogue and discussions are already underway about how to provide greater clarity to the market. She says concepts including materiality and value creation are two examples of future focus areas.