Today 11 June 2019 the OIBR was set up, the Italian Organization of Business Reporting. It’s a new entity, composed by big companies, PMI, universities, professional and trade associations, non- profit organizations and consulting companies, which has the task of producing, issuing and disseminating guidelines, studies, researches, standard principles of a technical and practical nature in the field of the business reporting, of the non-financial report, of the Sustainability Report and of the Integrated Report, of the TCFD’s indications, targeting the Italian context. One of its founders is a Benefit Company Sara Cirone Group SRLB, which includes in its own activities the diffusion of the good practices of Business Reporting and of Sustainability.
Italy too has its own Organism of Business Reporting
The OIBR is characterized as a Partnership Foundations, a non-profit organism without a commercial involvement operating in the field of the Italian public interest. It’s an organism opened to all actors which are interested in this subject, and it enjoys the international support of important organism as the International Integrated Reporting Council (IICR), the Global Reporting Initiative (GRI) and the World Business Council for Sustainable Development.
Which are the OIBR’s activities?
Its activity will be organized according to working groups focused on the several interests of the stakeholders and its target is to be the unified voice of our Country in the international debate. The OIBR’s purposes are to play a part in the improvement of the business reporting, to take part in the formation process of the international business reporting principles and of the application guides issued by foreign standard setter, to promote the knowledge of the more advanced and updated principles ofinternational and national business reporting, to promote in our Country and in companies the culture of business reporting and of the business information transparency, to provide the cooperation to the legislator, to supervisory authorities and to the Italian organism of accounting in the enactment of laws and regulations about the business reporting.
A new step towards the future
It’s a real breakthrough for our Country in the coaching to all forward-looking subjects which are interested in providing with measuring and communication instruments to report the several capitals of which the company consists and how they are connected to the UN 2030 Agenda.
The crucial issue for companies is the concrete capacity to create value for all stakeholders in the short, medium and long term. The intangible resources are today essential in the business world, so it’s important to oversee the way for companies and organizations to address the needs of their own stakeholders and to manage social, environmental and cultural resources. That’s why the traditional report reveals its restrictions because of its focalisation in the economic-financial issues: so, it’s important to implement measuring and development models of company capitals which consider all the issues able to create material and immaterial value. An evolutionary system of Business Reporting built on the integrated idea, the attention to the social, environmental and economic impacts assists
The crucial issue for companies is the concrete capacity to create value for all stakeholders in the short, medium and long term. The intangible resources are today essential in the business world, so it’s important to oversee the way for companies and organizations to address the needs of their own stakeholders and to manage social, environmental and cultural resources. That’s why the traditional report reveals its restrictions because of its focalisation in the economic-financial issues: so, it’s important to implement measuring and development models of company capitals which consider all the issues able to create material and immaterial value. An evolutionary system of Business Reporting built on the integrated idea, the attention to the social, environmental and economic impacts assists
MoreMore information: https://www.fondazioneoibr.it