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Date: 2024-07-15 Page is: DBtxt003.php L0900-MR-IIRC-IR-01a
IIRC / IR (Integrated Reporting)
IIRC's Framing of the System
IIRC takes into consideration all the capitals, but maybe in a manner limited by the singular corporate perspective. TVM also embraces all the capitals, but in addition all the activities and impacts of everything in the socio-enviro-economic system ... all the perspectives and all the actors.
A. Financial
B. Manufacturing
C. Intellectual
D. Human
E. Social and Relationship
F. Natural
Social Capital
D. Human Capital
E. Social and Relationship
plus Locational, Cultural and Spiritual

Natural Capital
F. Natural Capital (in 7 sub-segments)
Economic Capital
A. Financial Capital (in multiple sub-segments)
B. Physical Capital (manufacturing plus other sub-segments)
C. Intangible Capital (intellectual plus other sub-segments)
With IIRC the 'Value Creation Process' and reporting are centered on the business organization. Impacts on capitals are associated with: (1) Mission and Vision: (2) Risks and Opportunities, (3) Governance, (4) Strategy and Resource Allocation; (5) Performance and Outlook ... all of which are related to the business and its investors. This is not sufficient. Other stakeholders outside the business organization are important.
With IIRC the business organization draws from the 6 capitals (inputs to the process) and impacts the 6 capitals (outcomes of the process). This is not much different from the TVM framing, but TVM applies the same framing to everything in the total system.

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