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The IFRS Foundation Trustees are committed to the International Sustainability Standards Board (ISSB) building on the work of existing investor-focused reporting initiatives—and ultimately becoming the global standard-setter for capital market sustainability disclosures. 

Part of this effort includes further developing the Integrated Reporting Framework, which the International Accounting Standards Board (IASB) and the ISSB assumed responsibility for when the Value Reporting Foundation merged with the IFRS Foundation in August 2022. 

An integrated report is a concise communication about an organisation’s strategy, governance, performance and prospects. Presenting each topic in the context of the organisation’s external environment, the report summarises how the organisation creates value in the short, medium and long term. 

Originally published in 2013, the Integrated Reporting Framework provides a structure that companies can use to tell their story about how they manage their responses to the external environment and create value for shareholders. Using this Framework allows companies to ‘connect’ information about such environmental risks and opportunities and to connect this information with information presented in financial statements. 

The Chairs of the IASB and the ISSB have made a long-term commitment to developing a corporate reporting framework, including principles and concepts from the current Integrated Reporting Framework. A corporate reporting framework would provide guidance to companies on how to prepare an integrated report and support alignment between the reporting required by the IASB and that required by the ISSB. This guidance would enable companies to produce connected and cohesive corporate reporting. 

The IASB and the ISSB will work together to agree on how to build on and integrate the Integrated Reporting Framework into their standard-setting projects and requirements. During this transition, the Chairs of the IASB and ISSB actively encourage companies to continue adopting the Integrated Reporting Framework.