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The purpose of this paper is to investigate the engagement with integrated reporting (IR) of the Development Bank of Singapore (DBS), as one of the banks that pioneered IR. Banking industry members face critical sector-specific issues regarding the use of capitals, especially the disclosure of relational and natural capital-related information, and reporting of the outcomes of capitals. This study examines an innovative approach to accounting for multiple capitals adopted by DBS during its journey toward IR.

This empirical research follows the case study method, using semi-structured interviews with DBS’s managers, and analyzing reports and other documentation.

The authors find that DBS re-conceptualizes, re-categorizes and measures multiple capitals as a form of non-financial value using the balance sheet approach to make visible the interactions and potential tensions (trade-offs) among capitals.

Case studies are best used to understand a specific context, so the findings of this study cannot be generalized statistically. However, the study does provide insights into the banking industry that may be applicable to other organizations.

The categorization and reporting of multiple capitals using the balance sheet approach and the integration of the balanced scorecard are innovative operationalizations of the International <IR> Framework.

This study provides an innovative approach to the categorization and measurement of multiple capitals. It represents a step toward reducing the gap between research and practice on IR.

The purpose of this paper is to explore the potential of the metaphor of capital, and to chart the development of the multiple capitals concept in the International < IR > Framework and consider how it might develop and be used. In doing so, the paper discusses the implications of the contributions to this special issue in the further development of the capitals concept.

The authors draw on documents of the International Integrated Reporting Council (IIRC) and review the literature on capitals to consider the formation of the metaphor of multiple capitals. This is reflected upon while recognising the varied involvement of the authors with the IIRC capitals conception. The challenges of conceiving a multiple capitals framework are critiqued with reference to empirical and theoretical contributions drawn from recognition of planetary boundaries, gendered capitals, power and intersection of capitals and important practical and conceptual insights raised by papers in this special issue.

The authors find that the agenda of the IIRC is a shift from a “financial capital market system” to an “inclusive capital market system” through recognition of multiple capitals and integrated reporting and thinking. It is emphasised that their vision is not intended as a call for the measurement of these various capitals in monetary terms alone. Through insights from research on planetary boundaries and gendered capitals, the authors critique the potential communsurability of capitals and make visible potential tensions between them. Some of the challenges and opportunities when reporting on multiple capitals are recognised. These include: use of the capitals terminology; analysing connectivity between the capitals; the extent to which value created (and depleted) by each capital should be monetised and highlight possibilities for future research.

Reflecting on the vision of the IIRC, the authors use the critical potential of the metaphor to highlight the IIRC’s vision and understand the role of multiple capitals and potential tensions between them. The authors provide normative insights into the need for engagement on the philosophies of integrated thinking and symbolism of capital and multiple capitals as the way forward.

It is through discussions around multiple capitals – what is in, what is out, how capital is valued – that metaphors will be (re)created. By considering the notion of capital in < IR > and critiquing this with reference to research insights, the authors seek to open up debate on the framing of multiple capitals.

The purpose of this paper is to disclose a new performance accounting method called the MultiCapital Scorecard, which makes it possible to measure, manage and report Triple Bottom Line performance relative to organization-specific norms for impacts on multiple capitals.

The authors set out to expand a pre-existing multiple capital accounting system known as Context-Based Sustainability. Whereas Context-Based Sustainability assesses the social and environmental performance of organizations relative to norms for impacts on non-economic capitals, the MultiCapital Scorecard adds economic performance to the mix.

The authors find that it is indeed possible to measure and report the social, environmental and economic performance of an organization in an integrated, context-based way relative to norms for impacts on multiple capitals. The MultiCapital Scorecard is the result.

The MultiCapital Scorecard is an open-source methodology that any organization can use. For managers or accountants interested in testing, evaluating or adopting multiple capital accounting, it provides a practical and systematic solution.

The MultiCapital Scorecard is transformational, in that it holds organizations and commerce writ large accountable to the limits in, and demands for, vital capitals in the world on a fair and proportionate basis. No other method does this, and yet it must be done if there is to be sustainability in the conduct of human affairs.

The paper describes the world’s first multiple capital, context-based accounting system that organizations can use to measure, manage and report their Triple Bottom Line performance in integrated and quantitative terms. The MultiCapital Scorecard is the authors’ original creation.

The purpose of this paper is to present a linkage between performance measurement at the business level and the concept of public goods usage, and a linkage between the micro- and macro-economic aspects of sustainability.

Exhibiting the essentials of a public goods cost perspective in order to initiate discussion between statisticians, standard setters for business reporting and practitioners.

Showing what has been achieved in measuring the outcomes of sustainable development efforts and what still needs to be done in order to arrive at aggregate values for national and global commons.

Linking performance measurement at the business level to public goods usage will depend on the co-operation of businesses and national statistics which test the feasibility of monetary indicators for both the micro- and the macro-levels.

For practitioners in both the statistics profession and management accounting who are concerned with measurement of socioeconomic and environmental phenomena, this attempt at integrating sustainable development indicators and the managerial control system of companies might provide a valuable proposition. It is also a useful contribution to the ongoing debate of the value and credibility of sustainability reporting.

If businesses make no attempts to exhibit numerically how they contribute to preserving and expanding the societal commons, they will be confronted with ever-growing agitation from pressure groups and they might be bypassed in the discussion on the issue of sustainability parameters that those groups are advocating.

This is the first academic paper that demonstrates a reporting model which unites business accounts and national accounts.

Over the past decade, researchers have witnessed an exponential growth in the number of publications on IR. This paper aims to understand the state of the art of the research field and to highlight the areas where further academic research is needed, guiding developments in theory, research, policy and practices.

The authors apply the dynamic literature review method called “Systematic Literature Network Analysis”, which combines systematic literature review and bibliographic network analysis. Furthermore, to overcome some of the limitations connected to the methodology, the authors integrate the literature with a manual content analysis of papers.

IR adoption and practices and their determinants represent the most analyzed aspects of literature. Over time, attention has been paid to more specific issues, such as the relationship between IR and other disclosure mechanisms, IR quality and its assurance, the critical analysis of the IR framework and principles and difficulties in IR adoption. Although the literature on IR can be considered to be in its mature stage, many aspects are still under-researched, so there is plenty of space for future research.

The authors propose the following main issues as subjects to be investigated in future studies: IR is not simply an evolution of sustainability reporting, but an innovative communication tool; the debate on who the recipients of value are (shareholders or stakeholders) and on what the definition of value adopted by IR is still remains an open issue; more attention should be given to the role of IR as a managerial tool, which could support strategy formation and communication, and influence internal processes of performance measurement and evaluation; what the future of IR will be in light of recent EU Corporate Sustainability Reporting Directive and new ISSB's standards is still an open question. From a methodological perspective, little is known about structured approaches in accounting studies. The authors confirm how methodologies, such as that of this paper, may be exploited as a tool to support dynamic analysis for setting the agendas for future studies in the accounting field.

The purpose of this paper is to re-kindle debate about finding a conceptual and pragmatic basis for accounting and accountability researchers and to incorporate biodiversity management into the internal practices, routines and communication of organizations.

A qualitative interplay of theories, particularly structuration theory, applied to an interdisciplinary, communitarian and eco-centric perspective will be used to demonstrate the need for change: for researchers and practitioners to interact with other disciplines and adapt their professional, institutional and governance practices to incorporate biodiversity management and reporting within organizational structures.

Collective community action can be undertaken by aligning physical biodiversity and its setting with the interrelationship between external information structures, accountability and internal information structures, agent behaviour and the reporting of outcomes. This should assist in reducing the loss of species and richness triggered by unsound economic decision-making.

This is perhaps one of the few accounting studies which discuss theoretical frameworks for the integration of accounting/accountability systems and biological diversity information through a conceptual rethinking.

This should assist in reducing the loss of species and richness triggered by unsound economic decision-making.

This paper re-opens the debate regarding the need for an alternative conceptual approach through which biodiversity management can be incorporated into the complexities of business interactions, and the social and natural systems, by using management accounting as a primary vehicle. This is perhaps one of the few accounting studies which discuss theoretical frameworks for the integration of accounting/accountability systems and biological diversity information through a conceptual rethinking.

This study aims to furnish the systematic literature review on integrated reporting (IR) and answer three research questions: How has the IR concept been developed recently across the different countries? How can the literature of IR be allocated among different focus areas/themes? What are the future opportunities available for IR?

The methodology involves selection, classification and categorization of 110 articles on IR into their focus areas, journals, time distribution, continent-wise distribution, research methodologies and keywords analysis.

The findings of the study suggest that there is a need of the following: increasing the case studies and empirical research in developing assurance models, analysis of the perception of shareholders in Asian countries, harmonization of financial and non-financial standards, research on the IR of non-listed companies.

It provides insights to practitioners regarding the challenges faced by the economies and internal organization. It might help researchers and academics to focus on developments of IR in different countries. It might also help regulators to develop some policies, models and frameworks for its future implementation.

It furnishes the outline of 110 articles published in eminent journals from the year 2011 to beginning of 2020.

The purpose of this paper is to explore the perceived benefits of integrated reporting (IR) and factors influencing the motives that supervisory board members (SBMs) have for advocating a change towards IR implementation.

An exploratory survey study was conducted to investigate the influence of external market conditions, internal organizational conditions and observed benefits on the motivation to advocate IR adoption in companies that have not yet implemented IR. A unique set of survey data from 62 SBMs of Dutch companies was used for analysing the propositions derived from IR literature and based on institutional theory, legitimacy theory and diffusion of innovation theory.

The respondents indicated to be supportive of IR adoption. SBMs who had experienced the implementation of IR observed that IR offers benefits. Their motives for advocating a change towards IR in companies that had not implemented IR were influenced most by the observed benefits in IR companies. SBMs only involved in companies that had not adopted IR are motivated to support IR adoption to a similar extent. These findings suggest that directly observed benefits by SBMs need to exceed a considerable minimum level before these SBMs are more motived to advocate IR than their peers who have not witnessed the implementation of IR and that experiences are shared across companies. The motivation of both groups is influenced by external market conditions but not by internal organizational conditions.

The findings have implications for potential IR adopters and institutions promoting the further diffusion of IR as they emphasize the need for tangible benefits of IR and confirm that sharing good practices and benefits of IR can provide a catalyst for IR adoption. The findings contribute to the understanding of the motivation of SBMs as an important organizational condition for implementing IR as this study provides insights in the factors that drive this motivation of key actors influencing the decision to implement IR. Furthermore, the finding that these factors predominantly comprise tangible results and external market conditions is relevant from an organizational change perspective.

Understanding the mechanisms of IR-adoption decisions provides a relevant basis for deploying programmes promoting IR as a general reporting standard. This could provide society and a broad range of stakeholders with access to information incorporated in integrated reports. It could ultimately have a major impact on society by improving decision-making and increasing the long-term sustainability of organizations and their relations with stakeholders.

This study provides preliminary empirical evidence concerning the perspectives of SBMs on their motives for advocating IR, based on a unique sample from a country that has been involved with IR from its start.

This paper aims to explore the nexus between integrated reporting and sustainability embeddedness. It seeks to contribute to a better understanding of the nexus by obtaining in-depth insight from the sensemaking of those in practice.

A single exploratory case study design strategy was applied to a leading stock exchange listed company in the property industry in South Africa. Rich qualitative data were gathered by applying multiple data gathering techniques to a diverse group of employees within the case company.

This empirical study contributes a metaphor of a cog and chain and nine themes that elucidate employee sensemaking at the nexus. Integrated reporting was found to drive sustainability embeddedness and foster changes within the organisation. The themes offer in-depth insight into how employees made sense of integrated reporting as a driver for sustainability embeddedness.

The findings emerged from a single case study that operated in a mandatory disclosure context and are therefore not generalisable. The findings reflect the intended outcomes of integrated reporting and further research to explore the unintended outcomes and challenges associated with integrated reporting is suggested.

The study contributes to a growing practice based agenda by offering a better understanding of how integrated reporting and sustainability are conceptualised and adopted in practice.

The findings offer organisations’ guidance on integrated reporting and sustainability embeddedness adoption which can have vast implications for society and the environment.

The study responds to gaps in the literature and calls for studies to explore the intersection between integrated reporting and sustainability embeddedness by engaging those in practice.