Global consumer goods giant Unilever has become the latest addition to the International Integrated Reporting Council (IIRC) pilot programme, the IIRC has announced.
The total number of businesses participating in the pilot programme is currently over 75. Together with 25 international investors, they are going to test the principles and the practical applications of integrated reporting (IR) and help draw up an international IR framework. A draft for the framework, set to be open for consultation next year, is currently being prepared.
The IIRC aims to deliver a universally adopted IR framework that would speed up the development of corporate reporting and help businesses publish details about their strategy, goals and performance in a clear and comparable form.
Unilever CEO Paul Polman says that businesses need to decide what their role in society is. They may choose to wait for governments to act or they may decide to be a part of resolving the issues. Unilever prefers to be the latter and believes that businesses should help to address the problems of the modern world, he says.
The involvement of Unilever in the pilot programme demonstrates the support for the project from global businesses. Paul Druckman, CEO of the IIRC, comments that since its launch the project has been working across various sectors and the participation of Unilever will be beneficial for the evolution of corporate reporting.