1. Why might it be important to include sustainability and other factors in a firm’s financial reports?
2. What is the purpose of the Integrated Reporting Council?
3. Why do you think NASDAQ is beginning to require more information on a firm’s corporate governance and environmental activities?

It has been estimated that about 80 percent of a firm’s value is not found on the balance sheet. One of the least understood areas involves sustainability. Some socially responsible businesses have adopted a triple bottom line approach in which the organization reports its financial results, its impact on society, and its impact on the planet. A pilot program consisting of 75 global companies is investigating ways to overcome these challenges. This program, monitored by the International Integrated Reporting Council, seeks to create an integrated reporting model giving investors the opportunity to receive a holistic view of the company’s operations and business strategies. Integrated reporting may become the new norm for investor reports.