The International Integrated Reporting Council (IIRC) and the Sustainability Accounting Standards Board (SASB) announced they intend to merge into a single organization to be called the Value Reporting Foundation by the middle of 2021. The unified group will give investors and corporations a comprehensive corporate reporting framework across the enterprise with standards aimed at improving global sustainability performance. The two groups have worked together since 2014 as part of a group known as the Corporate Reporting Dialogue that was established by the IIRC. They and other sustainability standard-setters have come under increasing pressure from financial regulators around the world to harmonize their sometimes conflicting sets of standards and frameworks for Environmental, Social and Governance (ESG) reporting. "Information is the lifeblood of good decision-making. Capital markets are hungry for information linked to enterprise value creation, but they cannot easily digest what comes from a fragmented reporting landscape. This merger is an important step toward businesses and investors communicating with clarity and ease about the issues that matter most to financial performance,” said Robert Steel, chair of the SASB Foundation board of directors.

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