Tipping Point Fund grant to IIRC and SASB
The Tipping Point Fund on Impact Investing has awarded a combined US$500,000 in Grants to the International Integrated Reported Council (IIRC) and the Sustainability Accounting Standards Board (SASB). It is intended to support efforts to develop a global framework for impact reporting and sustainability disclosure.
The funding will be used to support two key projects to be completed during 2021. Firstly, IIRC will produce a series of publications to provide guidance to companies and investors on enterprise value reporting, including case studies on best practices for companies in specific sectors. They will also conduct an analysis of the two organisations’ approaches, mapping the six capitals of the <IR> Framework with the five sustainability dimensions of the SASB Standards.
Secondly, SASB and the IIRC will develop a joint strategic plan for their merger into the Value Reporting Foundation, as announced in November 2020. They will develop the core mission and mandate of the new organisation and refine the objectives, strategies and resources needed to fulfil them. This is one more very useful step towards a global reporting framework, and we will be looking out for those deliverables with interest.
Read more here.
SASB and IIRC are evidently already thinking hard about the synergies between their organisations, and have also this week published a post on ‘Strengthening an Integrated Report Using SASB Standards,’ comparing the two approaches. Read it here.