INTEGRATED REPORTING SYSTEM
Outbound communication of companies informations is increasingly important in maintaining a good reputation and in being transparent to their work.
The ESG (Environment, Social, Governance) reporting methods dictated by the European standards are an attractive guide to encourage organizations to communicate their informations to stakeholders in a more fully and transparently way. The Directive 2014/95/EU on disclosure of non-financial and diversity information by large companies and groups is the opportunity to have a more true and integrated reporting about policies, risks and outcomes as regards environmental matters, social and employee-related aspects, respect for human rights, anti-corruption and bribery issues, and diversity on boards of directors.
The integration with the management system is a key aspect to assure the synergy between Risk Management, Integrated Management System and Communication Methods for Integrated Reporting.
The GRI (Global Reporting Initiative) is an important standard to use for integrated reporting.
This standard is based on a general structure and also on specific topic (economic topics, environmental topics and social topics).
You can also use other standards for the reporting but the most important aspect is the integration between the communications and operational functions in order to be true in the informations given to stakeholders.
Some benefits of an integrated reporting are:
For investers: More relevant assessment of risk and better explanation of non financial informations
For employees: Better engagement and motivation
For other stakeholders: Better identification of the most important materiality aspects to take into account in the strategy and sustainability plan and transparency.