Figure 1
A diagram illustrating the impact of three proposed integrations on the International Integrated Reporting Framework. The diagram represents the process of value creation, preservation, or erosion over time within the external environment. It includes six types of capital: financial, manufactured, intellectual, human, social and relationship, and natural. These capitals provide inputs to the organization and its business model, at the centre of which are business activities and outputs. The broader framework also includes purpose, mission and vision, governance, risks and opportunities, strategy and resource allocation, performance, and outlook. Business activities generate outputs and outcomes, with outcomes characterized as positive or negative and occurring over the short, medium, or long term. These outcomes affect the various forms of capital and contribute to the continuing process of value creation, preservation, or erosion. The diagram further identifies three levels of integration: the first involves the separate disclosure of external outcomes; the second introduces a stakeholder-driven monetization logic; and the third emphasizes the centrality of intellectual capital. Impact of the three integrations on the International <IR> Framework