The IIRC welcomes the announcement by the European Commission Executive Vice-President Dombrovoskis on the development of European non-financial reporting standards.
Charles Tilley, CEO, IIRC, said:
“The urgency of companies reporting better, more timely, information has rightly come to the fore, particularly given the growing awareness of the environmental risks that face us all. The IIRC supports all initiatives that contribute to a better understanding of the risks and opportunities companies face.
“That said, in a world that is interconnected at every level, we cannot ignore the trade-offs companies make every day between their financial, manufactured, natural, social and relationship, intellectual and human capital. To treat these capitals in silos is to fundamentally misunderstand how business is done in the 21st century.
“The long term ability of a business to create value and to manage its impact across the capitals is the IIRC’s central focus and we will work with our friends at the European Commission to ensure the vital linkages between financial and sustainability reporting are reflected. It is critical that the ultimate goal of companies reporting on their long term sustainable value creation and impact is not forgotten during this process.
Full press release on IIRC
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