Value Reporting Foundation
| Value Reporting Foundation | |
| Founded | 2010 |
|---|---|
| Headquarters | London, United Kingdom |
| Key People | CEO Janine Guillot |
| Web site | http://valuereportingfoundation.org |
| Releases | Organization News |
The Value Reporting Foundation (VRF) developed tools that connect sustainability, disclosure and financial statements using as its basis the merged work of the International Integrated Reporting Council (IIRC), London, and the Sustainability Accounting Standards Board (SASB), San Francisco. [1] Its goal was to give investors and companies a unified sustainability reporting framework.[2] The VRF was consolidated into the IFRS Foundation on Aug. 1, 2022. [3]
History[edit]
The VRF hosted the work of the 2020 cooperative effort led by the Climate Disclosure Project, now CDP, to bring together five standard-setting institutions to develop a shared vision of the elements necessary for comprehensive corporate reporting of ESG. Partners in this initiative are the International Organization of Securities Commissions(IOSCO), the International Financial Reporting Standards(IFRS), the European Commission, and the International Business Council of the World Economic Forum. The five framework-setting partners are the CDP, the Climate Disclosure Standards Board (CDSB), the Global Reporting Initiative (GRI), the International Integrated Reporting Council (IIRC) and the Sustainability Accounting Standards Board (SASB). [4]
The August 1, 2022, consolidation of the VRF into the IFRS Foundation brought together staff and resources to support the work of the International Sustainability Standards Board (ISSB). It followed the consolidation of the Climate Disclosure Standards Board into the IFRS Foundation in February 2022. The consolidation was approved by both governing boards formally in June 2022. [5] Founders of the the VRF held a sunsetting event July 19, 2022, to celebrate the consolidation of the VRF into the IFRS Foundation. [6]
Products and Services[edit]
The Value Reporting Foundation was an umbrella organization that offers tools designed to help businesses and investors develop a shared understanding of value and how it is created, preserved, or eroded.[7] It has developed three main resources: integrated thinking principles, the integrated reporting framework, and SASB standards. [8]
Membership[edit]
Key People[edit]
Staff included Janine Guillot, CEO; Matthew Welch, president & COO; and Whitney Pollack, chief of staff. The Value Reporting Foundation has two chair emeriti: Michael Bloomberg and Prof. Judge Mervyn E. King.
References[edit]
- ↑ SASB and IIRC complete merger to form Value Reporting Foundation. Accounting Today.
- ↑ Organizations to create unified sustainability reporting group. Pensions&Investments.
- ↑ IFRS Foundation completes consolidation with Value Reporting Foundation. IFRS.
- ↑ Five global organizations, whose frameworks, standards and platforms guide the majority of sustainability and integrated reporting, announce a shared vision of what is needed for progress towards comprehensive corporate reporting – and the intent to work together to achieve it. Value Reporting Foundation.
- ↑ Consolidation with IFRS Foundation expected to complete 1 August 2022. Value Reporting Foundation.
- ↑ VRF at Sunset - live Stream Event. Vimeo.
- ↑ Resources overview. Value Reporting Foundation.
- ↑ SASB and IIRC complete merger to form Value Reporting Foundation. Accounting Today.