In the book, coauthors Krzus and Eccles underscore that, for annual reports and voluntary ‘Corporate Responsibility’ or ‘Sustainability’ reports to have the desired impact and value, they must be integrated into a single report. By producing an integrated report, companies demonstrate a sustainable strategy that is based on a genuine commitment to corporate social responsibility — one that takes into account the needs of all stakeholders.

The benefits to companies adopting One Report are real and measurable.

• Greater clarity about relationships and commitments: A sustainable strategy with multi-stakeholder perspective demonstrates thoughtful, conscientious leadership.
• Better decisions: Developing greater clarity about – and basing decisions upon – the relationships between financial and nonfinancial information, together drive sustainability into the business strategy and create value for the company, its shareholders and all other stakeholders.
• Higher level of engagement with all stakeholders: Integrated reporting and engaging stakeholders through Internet communications challenges all participants to listen to and consider all perspectives.
• Lower reputational risk: Assessing reputation and reality across stakeholder groups helps the company identify areas that are at risk.

“Now, more than ever, an excessive focus on short-term financial performance must be replaced by a longer-term view recognizing that a sustainable company depends upon its contribution to a sustainable society,” said Krzus.

“One Report is the result of more integrated reporting, which can only happen if sustainability is embedded in a company’s strategy,” said Eccles. “It is the most effective way of demonstrating internal integration, and it is also a discipline for ensuring that integration exists. Integrated external reporting is impossible without integrated internal management. One Report is both a tool and a symbol of a company’s commitment to sustainability.”

Companies that are currently practicing One Report include the Dutch lighting and health care company Philips, the Danish pharmaceutical company Novo Nordisk, the Brazilian cosmetics and fragrances maker Natura, and U.S.-based United Technologies Corporation.