Framework for Integrated Reporting Leadership commitment Communicating from the top? Management statements which define non-financial issues as being integral to business strategy Top countries: Business leaders who understand the complex issues facing society and can demonstrate a real personal commitment to managing their businesses for the long-term will be rewarded with the trust of their stakeholders. Change often begins with an individual and the management statements within the Annual Report are a key place for management to communicate directly with stakeholders and demonstrate that it fully understands the business, its challenges and the potential opportunities which result from operating in a responsible way. Board and executive commitment are often seen as vital for successful change as it helps to send a clear message about the importance to the company of connecting business strategy with financial and non-financial issues. The European reports also perform well in this area with the majority of companies providing relatively in-depth and informative management statements, effectively communicating the character and personality of the business. The management statements offer the opportunity to present the group strategy as well as the company’s commitment to non-financial issues. The emphasis on the ‘big picture vision’ is achieved through the inclusion of people in the Republic of Korea reports. This starts in the management statements with bold and engaging photography of leadership setting out the key themes of globalisation, innovation and sustainable growth, which is then reinforced throughout the report. South Africa 75% Europe 44% Republic of Korea 43% Management statements which define the rationale behind non-financial issues within the business Top countries: Key findings Approaches to this aspect of reporting varied dramatically from country to country with a clear distinction between management who visibly engaged and committed to delivering value over the short, medium and long-term, to management statements which just blandly report on past financial performance. South Africa was particularly strong again in this area with many management statements discussing those issues considered as material to the business and how they are central to the group strategy. Interestingly, in South Africa there also seems to be a focus on how the non-financial issues are a central element within the management psyche and are a core consideration when the executive committee and Board discuss the company strategy. South Africa 38% 29% Europe Republic of Korea 24% 20 Towards Global Sustainability A country by country review of the international integrated reporting landscape