One Planet One Compliance: Stakeholder Perception Analysis on the Efficacy of the IR Framework of ESG Disclosure

Abstract

The objective of conducting this research is to investigate the efficacy of <IR> Framework in ESG disclosure with the help of supporting literature as well as by conducting stakeholder perception on the Integrated Reporting framework through the questionnaire method. For this, an initial attempt has been made to reveal whether there is One Planet One Compliance. And then we have discussed the perception of stakeholders on the efficacy of <IR> in ESG disclosure. The study reveals that though there are diverse reporting frameworks prevailing, each has its own efficiency like CDP aligned with TCFD and CDSB possesses its own uniqueness and is highly efficient for disclosing climate-related issues. While, GRI and SASB provides standard & metrics across all the three pillars of ESG for diverse industries. Besides,  <IR> is efficient in providing guidance and principles on ‘what to be reported and to what extent’. Additionally, from the stakeholder perception analysis, it was concluded that <IR> is an ‘umbrella’ for corporate reporting and capable of replacing other reporting approaches as it is ‘Extremely Effective’ in disclosing the Business model, its value creation process, Risk and Opportunities, Management dialogue on emerging environmental and social risk/opportunities (e.g. climate change, HSE, Human rights, etc.). Thus, a collaboration of these organisations under one umbrella of Value Reporting Foundation and subsequently merging with IFRS Foundation is a pathway towards One Planet One compliance.