SWEDISH SUMMARY: Igår diskuterades EU:s förslag gällande rapportering av ”icke-finasiell information” på ett seminarium anordnat av CSR Sweden. Och idag diskuterades integrerad rapportering på ICC:s CSR-möte.
Jan described the proposal and gave us an update on the process ahead (negotiations between Parliament and Council in the months to come). The proposal can be summarized by two slides/pictures.
The first one (e.g. companies concerned and the content of the non-financial information)
and the second one (e.g. additional requirements for large listed companies)
One of the obvious questions when non-financial information reporting is discussed is ”why this type of info should be reported, who will be interested”. I am very thankful to Jan for his brilliant lecture in general, but specifically the argument for the non-financial reporting:
”If you want to evaluate me, you should check more than my bank account. I am so much more than my bank account. I have a full set of skills, experiences, and personal characteristics. And the same is true for each and every company. To evaluate a company you have to check more than just the financials. A company is also much more than its bank account!”
That quote is my best take-away from a meeting in a long time!
Jan’s quote from above was used today again at the meeting of ICC’s Swedish reference group on Corporate Responsibility. We had invited Lars-Olle Larsson, Senior Manager ESG Affairs at Swedfund International AB and the ambassador for IIRC in Sweden, to discuss Integrated Reporting with us.
Lars-Olle used Jan’s quote to send us the clear message: There is a need for Integrated Reporting if it should be possible to evaluate a company. Lars-Olle gave us examples of the increased importance of intagibles when calculating the value of companies. Yet another clear argument for the need of integrated reporting. For details on Integrated Reporting, please follow this link.
The Annual Review from Pfizer Inc is one example of the trend among large companies to move in the direction of Integrated Reporting.