The International Integrated Reporting Council (IIRC) has added Deutsche Börse Group to its pilot programme business network, becoming the first stock exchange to join the initiative.
Deutsche Börse Group has approximately 765 listed companies with a combined market capitalization of €1,185tr ($1,576tr), the IIRC said in a statement.
The IIRC hopes to implement a globally accepted integrated reporting (IR) framework and extract material performance-related information from organizations in a standardised format.
IIRC chief executive Paul Druckman said Deutsche Börse Group’s participation "demonstrates not only its endorsement of IR but the speed at which it is gaining momentum in capital markets."
Deutsche Börse managing director global public affairs Frank Klaas added: "Our participation in the IIRC’s pilot programme signals the start of our own journey towards a corporate reporting landscape focused on the material factors that will enable investors to make better informed assessments of the ability of a company to create and sustain value."
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