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Implementing an
    Integrated Reporting
          process
                      IFAC Seminar


                       14 November 2012
                          Ian Jameson
    Chief Advisor: Climate Change and Sustainable Development
                      Sustainability Division
1
Eskom’s integrated reporting journey

Awards
• 2nd in 2011 E&Y’s Sustainability Reporting Awards
                                                                               2012
• Excellence in 2012 E&Y’s IR Awards
                                                                     Integrated report aligned
• Winner 2012 Nkonki SOC IR Awards
                                                                     with IIRC and IRC of SA
• First non-listed winner basic materials and
                                                                         discussion papers
  resources category in 2012 Investment Analyst
                                                                       B+ GRI declaration
  Society Awards




                            2002
                      First Integrated                                       2011
                      Annual Report                               Integrated Annual Results
                   (including Financial                            with B+ GRI declaration
                    and Sustainability
    1994               information)
     First
Environmental
                                                  2008
  Report for
                                           Integrated Annual
   Eskom
   In support of                          Results with first B+                                  2
                                            GRI declaration
Eskom’s 2012 report written from a value chain
perspective




 In support of
                                                 3
Key Successes in getting IR done

1. Taking the first step
          •     Creating the right level of governance and support structures

          •     Testing the IR framework (Eskom used the Quarterly shareholder report; January
                2012)

2. Early agreement by senior management to IR objectives
          •     Material issues

          •     Structure (Hard Copy and website design)

          •     Timelines (shortest year-end release)

          •     Stakeholder engagement

3. IR driven by the Finance Director
          •     Strong support from a core team with different skill sets to deliver on the agreed IR
                objectives

In support of
                                                                                                    4
Deferred Successes (Challenges)

1. Developing IR capacity

2. Ensuring consistency between different reports (Integrated report,
   Divisional report, Financial statements) – particularly from an editing
   perspective

3. Tight timelines can cause lack of “thought through content” from
   content owners (link to capacity development)

4. The development of a divisional report in parallel to the IR diluted the
   IR as the “primary report”.




In support of
                                                                              5
Areas of focus going forward

1. Alignment of monthly reporting and IR reporting processes

2. Use of collaborative reporting software to streamline reporting and
   editing of content as well as develop better connectivity of information
   between various reports

3. Website enhancements: Further improve the functionality and
   connectivity of information and create a consistent platform for
   Integrated Reporting

4. Improve on the systemic integration of stakeholder engagement
   with the material issues

5. IR has a forward-looking focus. Accordingly, more effort must be
   placed on developing relevant leading indicators that are materially
   connected to the various capitals of the IR framework



In support of
                                                                              6
Thank you
    Ian Jameson

    Chief Advisor
    Climate Change and Sustainable Development
    Group Sustainability
    Eskom Holdings Limited
    Tel +27-11-800-3033
    Fax +27-86-662-9081
    Cell +27-82-876-8226
    Email Ian.Jameson@eskom.co.za

          @Leadership4Good




7

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Implementing an Integrated Reporting Process

  • 1. Implementing an Integrated Reporting process IFAC Seminar 14 November 2012 Ian Jameson Chief Advisor: Climate Change and Sustainable Development Sustainability Division 1
  • 2. Eskom’s integrated reporting journey Awards • 2nd in 2011 E&Y’s Sustainability Reporting Awards 2012 • Excellence in 2012 E&Y’s IR Awards Integrated report aligned • Winner 2012 Nkonki SOC IR Awards with IIRC and IRC of SA • First non-listed winner basic materials and discussion papers resources category in 2012 Investment Analyst B+ GRI declaration Society Awards 2002 First Integrated 2011 Annual Report Integrated Annual Results (including Financial with B+ GRI declaration and Sustainability 1994 information) First Environmental 2008 Report for Integrated Annual Eskom In support of Results with first B+ 2 GRI declaration
  • 3. Eskom’s 2012 report written from a value chain perspective In support of 3
  • 4. Key Successes in getting IR done 1. Taking the first step • Creating the right level of governance and support structures • Testing the IR framework (Eskom used the Quarterly shareholder report; January 2012) 2. Early agreement by senior management to IR objectives • Material issues • Structure (Hard Copy and website design) • Timelines (shortest year-end release) • Stakeholder engagement 3. IR driven by the Finance Director • Strong support from a core team with different skill sets to deliver on the agreed IR objectives In support of 4
  • 5. Deferred Successes (Challenges) 1. Developing IR capacity 2. Ensuring consistency between different reports (Integrated report, Divisional report, Financial statements) – particularly from an editing perspective 3. Tight timelines can cause lack of “thought through content” from content owners (link to capacity development) 4. The development of a divisional report in parallel to the IR diluted the IR as the “primary report”. In support of 5
  • 6. Areas of focus going forward 1. Alignment of monthly reporting and IR reporting processes 2. Use of collaborative reporting software to streamline reporting and editing of content as well as develop better connectivity of information between various reports 3. Website enhancements: Further improve the functionality and connectivity of information and create a consistent platform for Integrated Reporting 4. Improve on the systemic integration of stakeholder engagement with the material issues 5. IR has a forward-looking focus. Accordingly, more effort must be placed on developing relevant leading indicators that are materially connected to the various capitals of the IR framework In support of 6
  • 7. Thank you Ian Jameson Chief Advisor Climate Change and Sustainable Development Group Sustainability Eskom Holdings Limited Tel +27-11-800-3033 Fax +27-86-662-9081 Cell +27-82-876-8226 Email Ian.Jameson@eskom.co.za @Leadership4Good 7

Editor's Notes

  1. Taking the first stepCreating the right level of governance and support structures (with specific reference to the agreed ToRs)Testing the IR framework on the Quarterly shareholder report (January 2012)Early agreement to IR objectivesMaterial issuesStructure (Hard Copy and website design)TimelinesStakeholder engagementIR driven by the Finance DirectorStrong support from a core team with different skill sets to deliver on the agreed IR objectives(With the focus on the investor community the FD is well positioned to take the lead on IR for the company)
  2. Developing IR capacity Particularly the custodians of information and to support their way of thinking to elicit content from the bottom-up with due consideration to the IR framework and principles.
  3. Alignment of monthly reporting and IR reporting processesUse of collaborative reporting software to streamline reporting and editing of content as well as develop better connectivity of information between various reports Website enhancements: Further improve the functionality and create a consistent platform for Integrated Reporting(that allows numerous types of reports to be profiled, e.g.: MYPD3 application, system status updates, which are material information during the reporting year)4. Improve on the systemic integration of stakeholder engagement with the material issues5. IR has a forward looking focus. Accordingly, more effort is going to be placed on developing relevant leading indicators