NEW YORK, March 11, 2021 /PRNewswire/ -- The Tipping Point
Fund on Impact Investing (TPF), a donor collaborative vehicle with
a mission of scaling the practice of impact investing, today
announced that it would award a combined $500,000 in two grants to the International
Integrating Reporting Council (IIRC) and the Sustainability
Accounting Standards Board (SASB), nonprofit organizations working
to globalize integrated reporting and sustainability disclosure,
helping markets better assess the impact organizations make.
The funding will be used to support two key projects: (1) a
series of publications from the IIRC to provide guidance to
companies and investors on enterprise value reporting, including
case studies for companies in specific sectors and (2) a strategic
plan to support the merger of the IIRC and SASB into the Value
Reporting Foundation, which will accelerate progress toward a
global comprehensive corporate reporting system that delivers
enterprise value reporting for companies, asset managers and
investors.
The IIRC and SASB first announced their intent to merge into the
Value Reporting Foundation in November
2020. The merged entity will create a credible,
international organization that maintains the International
Integrated Reporting Framework, SASB Standards and advocates for
integrated thinking to ensure business leaders are holistically
considering their approach to long-term value creation and
impact.
The merger directly responds to calls from global investors and
corporates to simplify the corporate reporting landscape, providing
the market with a clear solution for communicating the drivers of
enterprise value.
Both grants are part of the TPF's data, metrics and measurement
(DMM) portfolio, which is focused on funding organizations and
projects working to provide greater clarity to market actors and
ensure high standards of impact accountability. The TPF also funds
public policy initiatives to enable or encourage more investors to
enter the impact investing market.
The grants will support the development of two sets of
deliverables:
- The IIRC will develop a practical guide on what enterprise
value reporting entails for companies and investors globally, and
conduct an analysis and mapping of the six capitals that form the
<IR> Framework with the five sustainability dimensions of the
SASB Standards. The IIRC will also produce detailed case studies of
leading companies to demonstrate the best practices of those
reporting effectively about value creation.
- SASB and the IIRC will develop a joint strategic plan for the
merger of the two organizations into the Value Reporting
Foundation. This strategic plan will enable the Value Reporting
Foundation to develop its core mission and mandate as an
organization and refine its objectives, supporting strategies and
resources needed to fulfill its mission in the years ahead.
Both deliverables will be completed in 2021.
"Aligning on standards for impact measurement is the essential
foundation upon which other data, metrics and measurement
priorities in impact investing depend," said Fran Seegull, Executive Director of the TPF and
President of the U.S. Impact Investing Alliance. "We are at a
critical moment of opportunity to drive progress in enterprise
value reporting given increasing market actor demand, the potential
for regulatory action and the eagerness with which voluntary global
standard-setters are now collaborating."
"As we have tracked developments in global impact standards
harmonization over the past year, these two organizations stood out
for their field leadership and for their potential to unify the
impact investing market behind a global standard," said
Jessie Duncan, Program Officer at
the TPF. "With this funding, IIRC and SASB will be able to take
their work to the next level and bring the impact investing market
one step closer to a unified ESG reporting disclosure and standards
system."
"We are witnessing an awakening by leading market players of the
vital role reporting and disclosure have in tackling the major
issues facing us all today, as the impacts of the global pandemic,
climate change and inequality continue to intensify. This funding
from the Tipping Point Fund on Impact Investing will help us
provide much needed guidance in the market, driving a comprehensive
corporate reporting system that will deliver effective, robust
thinking and reporting towards sustainable development," says
Charles Tilley, CEO, IIRC.
"Around the world, there is incredible momentum to simplify the
corporate reporting landscape. By merging into the Value Reporting
Foundation, the IIRC and SASB hope to accelerate process toward a
globally accepted corporate reporting system. Thank you to the
Tipping Point Fund on Impact Investing for supporting this
important work at a pivotal time in the field's evolution," says
Janine Guillot, CEO of SASB.
Launched in December 2019, the TPF
is planning to issue RFPs in both public policy and DMM later in
2021.
About the Tipping Point Fund on Impact Investing
The
Tipping Point Fund on Impact Investing (TPF) is a donor
collaborative vehicle developed with the mission of creating and
supporting public goods that are critical to the continued growth
and fidelity of the impact investing market. The TPF was launched
in December 2019 and has raised over $14 million in philanthropic capital, which will
be used to develop the infrastructure that is needed to mobilize
private capital for public good. The funding will build on existing
field building efforts by prioritizing the areas that are
chronically under-funded, are best suited for collective action and
that require additional support beyond that provided by individual
grantmaking. Learn more at www.tpfii.org.
About the U.S. Impact Investing Alliance
The U.S.
Impact Investing Alliance (Alliance) is dedicated to building the
impact investing ecosystem by bridging market gaps and addressing
shared challenges. The Alliance's long-term vision is to place
measurable social and environmental impact alongside financial
return and risk at the center of every investment decision. Learn
more at www.impinvalliance.org.
About IIRC
The International Integrated Reporting
Council (IIRC) is a global coalition of regulators, investors,
companies, standard setters, the accounting profession, academia
and NGOs. The coalition promotes communication about value creation
as the next step in the evolution of corporate reporting. For
more information about the IIRC, or to download the International
Framework, please visit https://integratedreporting.org/.
About SASB
The Sustainability Accounting Standards
Board (SASB) connects businesses and investors on the financial
impacts of sustainability. SASB Standards enable businesses around
the world to identify, manage, and communicate financially material
sustainability information to investors. SASB Standards are
industry-specific and are designed to be decision-useful for
investors and cost-effective for companies. They are developed
using a process that is evidence based and market informed. To
download any of the 77 industry-specific standards, or learn more
about SASB, please visit https://www.SASB.org.
Media Contact
17 Communications
Dmitriy Ioselevich
dmitriy@17c.org
View original
content:http://www.prnewswire.com/news-releases/the-tipping-point-fund-on-impact-investing-awards-a-combined-500-000-in-grants-to-iirc-and-sasb-to-help-drive-harmonization-of-enterprise-value-reporting-301245319.html
SOURCE Tipping Point Fund on Impact Investing