Figure 3
The center of the figure shows a blue circle labeled “I R”. Surrounding this circle, a circular arrow is shown with five boxes embedded in it, labeled “(re)Generation - Which values?”, “Elaboration - For which purpose?”, “Championing - In which ways is I R disseminated?”, “Production - Through which processes?”, and “Impact - What and to whom?”. Radiating outward from these inner components are five large triangular sections representing the five analytical phases of the framework. At the top, the “(re)Generation” phase includes three guiding questions: “1. Which values are going to be considered in the decision to adopt (adapt) and implement I R?”, “2. Has there been any lobbying behavior in the adoption of I R?”, and “3. Is there a substantial redistribution of power from shareholders to other more marginalized stakeholder groups?”. Moving clockwise, the “Elaboration” phase contains two guiding questions: “1. For which purpose is I R being implemented?” and “2. Are preparers feeling engaged and do they trust I R as an effective tool to foster corporate sustainability?”. Below that, the “Championing” phase includes the questions: “1. In which ways is I R supported and disseminated within and outside the organization?” and “2. How can I R change the current reporting practices?”. To the lower left, the “Production” phase has three questions: “1. Through which processes are intended purposes produced by the company because of I R?”, “2. Are integrated reporting and thinking linked to the business model of the firm and create value?”, and “3. To what extent is the company embedding I R principles and the level of integration of the six capitals?”. Finally, the “Impact” phase is shown at the upper left. It contains two questions: “1. What impact is I R having, and which stakeholder groups are affected the most by this impact?”, and “2. How does I R fit in with the multitude of other reporting standards?”. Encircling all phases is an interconnected ring of eight blue circular nodes representing the stakeholder groups influencing I R practices. Clockwise from the top, these nodes are labeled “Shareholders”, “I R C”, “Communities”, “Environment or Nature”, “Auditors”, “Preparers and accounting professionals”, “Other standard setters”, and “Policy makers”. “Shareholders” is present in the “(re)Generation” phase, “I R C” is present between the “(re)Generation” phase and the “Elaboration” phase, “Communities” is present in the “Elaboration” phase, “Environment or Nature” is present in the “Championing” phase, “Auditors” is present between the “Production” phase and the “Championing” phase, “Preparers and accounting professionals” is present in the “Production” phase, “Other standard setters” is present in the “Impact” phase, and “Policy makers” is present between the “(re)Generation” phase and the “Impact” phase.IR injustice assessment framework