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Contents

   



(Top)
 


1 Background  





2 Islamic values and principles  





3 Recognition  





4 Governance of the IRI Foundation  





5 See also  





6 References  














Islamic Reporting Initiative: Difference between revisions






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| founded = April 4, 2015

| founded = April 4, 2015

| extinction =

| extinction =

| type = [[Nonprofit organization|Nonprofit organization]]

| type = [[Nonprofit organization]]

| status =

| status =

| purpose = [[Environmental, social and corporate governance]] (ESG) and [[Sustainability reporting]]

| purpose = [[Environmental, social and corporate governance]] (ESG) and [[Sustainability reporting]]

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}}

}}



The '''Islamic Reporting Initiative''' (IRI) is an independent [[nonprofit organization|nonprofit organization]] leading the creation of the IRI Standard: a reporting standard for [[Environmental, social and corporate governance]] (ESG) based on [[Islam|Islamic]] principles and values. Its objective is to enable organizations to inclusively assess, report, verify and certify their ESG and [[Philanthropy|philanthropic]] programs in support of the [[Sustainable Development Goals|United Nations Sustainable Development Goals]].

The '''Islamic Reporting Initiative''' (IRI) is an independent [[nonprofit organization]] leading the creation of the IRI Standard: a reporting standard for [[Environmental, social and corporate governance]] (ESG) based on [[Islam]]ic principles and values. Its objective is to enable organizations to inclusively assess, report, verify and certify their ESG and [[Philanthropy|philanthropic]] programs in support of the [[Sustainable Development Goals|United Nations Sustainable Development Goals]].



According to the [[International Organisation of Employers|IOE]] Sustainability Reporting Handbook for Employers’ Organisations,<ref>{{Cite web|url=https://www.ioe-emp.org/fileadmin/ioe_documents/publications/Policy%20Areas/csr/EN/_2016-03-10__CSR_for_All_Handbook_for_Employers__Organisations.PDF|title = Sustainability Reporting Handbook for Employers' Organisations}}</ref> the IRI Standard will provide comprehensive metrics and methods for effectively measuring and reporting on [[corporate social responsibility]] (CSR), with a particular focus on short- and long-term investments in extensive and relevant social and environmental aspects, including:

According to the [[International Organisation of Employers|IOE]] Sustainability Reporting Handbook for Employers’ Organisations,<ref>{{Cite web|url=https://www.ioe-emp.org/fileadmin/ioe_documents/publications/Policy%20Areas/csr/EN/_2016-03-10__CSR_for_All_Handbook_for_Employers__Organisations.PDF|title = Sustainability Reporting Handbook for Employers' Organisations}}</ref> the IRI Standard will provide comprehensive metrics and methods for effectively measuring and reporting on [[corporate social responsibility]] (CSR), with a particular focus on short- and long-term investments in extensive and relevant social and environmental aspects, including:

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== Islamic values and principles ==

== Islamic values and principles ==



The Islamic Reporting Initiative sees the values of [[peace]], [[compassion]], [[Toleration|tolerance]], [[justice]], [[environmental resource management|environmental management]] and [[dignity|human dignity]] as the foundations on which to implement enterprise sustainability and social responsibility on a universal scale.<ref>{{cite journal|url=https://www.ojs.unito.it/index.php/EJIF/article/view/3065/pdf|title = Corporate Social Responsibility in Islamic Culture. Comparison between Western CSR and Islamic CSR: focus on Islamic Reporting Initiative and Islamic Financial Institution.|year = 2019|doi = 10.13135/2421-2172/3065|last1 = Litardi|first1 = Irene|last2 = Fiorani|first2 = Gloria|last3 = Harb|first3 = Denise|journal = European Journal of Islamic Finance}}</ref> The application of IRI standards during social responsibility practices is guided by the values of responsibility and accountable for the free will Ikhtiyar on personal action, and the [[social justice]] towards the society as guided by [[Allah]] through the values of [[Zakat]] (charity) and [[Sadaqah]] or philanthropy (Buhr & Gray, 2012; IRI Foundation, 2019). Other Islamic values that inform IRI standards include unity through moral respect and [[Social equality|equality]] on others and the society, and the assuming [[Khalifa|Khalifah]] ([[vicegerent]]) role by representing Allah on earth through stewardship over nature and other resources in the environment (Elasrag, 2018; IRI Foundation, 2019).<ref>{{cite journal|url=https://doi.org/10.4236/ojbm.2021.96149|title = Emerging Trends in Sustainability Reporting (SR): Comparative Literature Review in Developed, Developing and GCC Countries|year = 2021|doi = 10.4236/ojbm.2021.96149|last1 = Haidar|first1 = Hassan Mousa|last2 = Sohail|first2 = Rabia Minatullah|last3 = Qurashi|first3 = Shatha Mohammed Al|journal = Open Journal of Business and Management|volume = 09|issue = 6|pages = 2697–2718|s2cid = 240468846}}</ref>

The Islamic Reporting Initiative sees the values of [[peace]], [[compassion]], [[Toleration|tolerance]], [[justice]], [[environmental resource management|environmental management]] and [[dignity|human dignity]] as the foundations on which to implement enterprise sustainability and social responsibility on a universal scale.<ref>{{cite journal|url=https://www.ojs.unito.it/index.php/EJIF/article/view/3065/pdf|title = Corporate Social Responsibility in Islamic Culture. Comparison between Western CSR and Islamic CSR: focus on Islamic Reporting Initiative and Islamic Financial Institution.|year = 2019|doi = 10.13135/2421-2172/3065|last1 = Litardi|first1 = Irene|last2 = Fiorani|first2 = Gloria|last3 = Harb|first3 = Denise|journal = European Journal of Islamic Finance}}</ref> The application of IRI standards during social responsibility practices is guided by the values of responsibility and accountable for the free will Ikhtiyar on personal action, and the [[social justice]] towards the society as guided by [[Allah]] through the values of [[Zakat]] (charity) and [[Sadaqah]] or philanthropy (Buhr & Gray, 2012; IRI Foundation, 2019). Other Islamic values that inform IRI standards include unity through moral respect and [[Social equality|equality]] on others and the society, and the assuming [[Khalifa]]h ([[vicegerent]]) role by representing Allah on earth through stewardship over nature and other resources in the environment (Elasrag, 2018; IRI Foundation, 2019).<ref>{{cite journal|url=https://doi.org/10.4236/ojbm.2021.96149|title = Emerging Trends in Sustainability Reporting (SR): Comparative Literature Review in Developed, Developing and GCC Countries|year = 2021|doi = 10.4236/ojbm.2021.96149|last1 = Haidar|first1 = Hassan Mousa|last2 = Sohail|first2 = Rabia Minatullah|last3 = Qurashi|first3 = Shatha Mohammed Al|journal = Open Journal of Business and Management|volume = 09|issue = 6|pages = 2697–2718|s2cid = 240468846}}</ref>



While the Islamic Reporting Initiative aims to support all types of organizations, not just [[Islamic banking and finance]] organizations, the IRI Standard will be compatible with [[Sharia]]-compliant finance.<ref>{{Cite web|url=http://www.edie.net/library/Islamic-Reporting-Initiative--A-new-framework-to-transform-CSR-Reporting/6654|title=Islamic Reporting Initiative: Aligning local culture with CSR}}</ref>

While the Islamic Reporting Initiative aims to support all types of organizations, not just [[Islamic banking and finance]] organizations, the IRI Standard will be compatible with [[Sharia]]-compliant finance.<ref>{{Cite web|url=http://www.edie.net/library/Islamic-Reporting-Initiative--A-new-framework-to-transform-CSR-Reporting/6654|title=Islamic Reporting Initiative: Aligning local culture with CSR}}</ref>

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== Recognition ==

== Recognition ==



* In 2017, the Islamic Reporting Initiative was recognized by the Cambridge IF Analytica [[Global Islamic Finance Report]] (GIFR) as one of the leading initiatives in Islamic Finance.<ref>http://gifr.net/publications/gifr2017/contributors.pdf</ref>

* In 2017, the Islamic Reporting Initiative was recognized by the Cambridge IF Analytica [[Global Islamic Finance Report]] (GIFR) as one of the leading initiatives in Islamic Finance.<ref>http://gifr.net/publications/gifr2017/contributors.pdf {{Bare URL PDF|date=March 2022}}</ref>


* In 2018, the IRI won the Global Islamic Finance Award for the category [[Sustainable Development Goals]]. The award was presented during the [[Global Islamic Finance Awards]] (GIFA) [[ceremony]] held in [[Sarajevo]], in the presence of [[Bakir Izetbegović]], [[Chairman of the Presidency of Bosnia and Herzegovina]].<ref>https://islamicreporting.org/sustainable-development-goals/|title = SDG award</ref>

* In 2018, the IRI won the Global Islamic Finance Award for the category [[Sustainable Development Goals]]. The award was presented during the [[Global Islamic Finance Awards]] (GIFA) [[ceremony]] held in [[Sarajevo]], in the presence of [[Bakir Izetbegović]], [[Chairman of the Presidency of Bosnia and Herzegovina]].<ref>https://islamicreporting.org/sustainable-development-goals/|title = SDG award</ref>



Line 86: Line 85:

The IRI Advisory Council<ref>https://islamicreporting.org/about-iri/advisory-council/|IRI Advisory Council</ref> includes [[Hakima El Haite|Hakima El Haïté]], Delegate Minister in charge of the Environment of [[Morocco]] and Host of the [[United Nations Climate Change Conference]] (COP22) in [[Marrakesh]], and Taher Shakhshir, former Minister of Environment for [[Jordan]]<ref>http://www.jordantimes.com/news/local/environment-minister-selected-advisory-member-int%E2%80%99l-initiative%E2%80%99</ref> (Chairperson).

The IRI Advisory Council<ref>https://islamicreporting.org/about-iri/advisory-council/|IRI Advisory Council</ref> includes [[Hakima El Haite|Hakima El Haïté]], Delegate Minister in charge of the Environment of [[Morocco]] and Host of the [[United Nations Climate Change Conference]] (COP22) in [[Marrakesh]], and Taher Shakhshir, former Minister of Environment for [[Jordan]]<ref>http://www.jordantimes.com/news/local/environment-minister-selected-advisory-member-int%E2%80%99l-initiative%E2%80%99</ref> (Chairperson).



The IRI collaborates with a global network of governmental, corporate and nonprofit organizations worldwide, referred to as members. As of 2021, the IRI has members in more than 50 countries. On November 7, 2016, the IRI held its first round table as an official side event of the [[United Nations Climate Change Conference]] (COP22) <ref>http://www.men.gov.ma/Ar/cop22/Documents/Youth_CapacityBuilding.pdf</ref>

The IRI collaborates with a global network of governmental, corporate and nonprofit organizations worldwide, referred to as members. As of 2021, the IRI has members in more than 50 countries. On November 7, 2016, the IRI held its first round table as an official side event of the [[United Nations Climate Change Conference]] (COP22) <ref>http://www.men.gov.ma/Ar/cop22/Documents/Youth_CapacityBuilding.pdf {{Bare URL PDF|date=March 2022}}</ref>



The Islamic Reporting Initiative (Stichting IRI Reporting Standard) is a signatory of the [[United Nations Global Compact]]<ref>{{Cite news|url=https://www.unglobalcompact.org/what-is-gc/participants/89221-IRI-Reporting-Standard-Stichting|title = UN Global Compact registration}}</ref> and is a registered [[charitable organization|public benefit organisation]] as defined by the statute in the jurisdiction of the [[Netherlands]] ('ANBI' status).<ref>https://www.belastingdienst.nl/rekenhulpen/anbi_zoeken/|title = ANBI status registration</ref>

The Islamic Reporting Initiative (Stichting IRI Reporting Standard) is a signatory of the [[United Nations Global Compact]]<ref>{{Cite news|url=https://www.unglobalcompact.org/what-is-gc/participants/89221-IRI-Reporting-Standard-Stichting|title = UN Global Compact registration}}</ref> and is a registered [[charitable organization|public benefit organisation]] as defined by the statute in the jurisdiction of the [[Netherlands]] ('ANBI' status).<ref>https://www.belastingdienst.nl/rekenhulpen/anbi_zoeken/|title = ANBI status registration</ref>


Revision as of 12:14, 13 March 2022

IRI
FoundedApril 4, 2015
TypeNonprofit organization
PurposeEnvironmental, social and corporate governance (ESG) and Sustainability reporting
HeadquartersAmsterdam, The Netherlands

Region served

Predominantly Islamic countries and member states of the Organisation of Islamic Cooperation (OIC)

Official languages

English, Arabic

Founder

Daan Elffers

Chairperson

Mohamed Amersi
AffiliationsOrganisation of Islamic Cooperation (OIC)
Websitehttps://islamicreporting.org/

The Islamic Reporting Initiative (IRI) is an independent nonprofit organization leading the creation of the IRI Standard: a reporting standard for Environmental, social and corporate governance (ESG) based on Islamic principles and values. Its objective is to enable organizations to inclusively assess, report, verify and certify their ESG and philanthropic programs in support of the United Nations Sustainable Development Goals.

According to the IOE Sustainability Reporting Handbook for Employers’ Organisations,[1] the IRI Standard will provide comprehensive metrics and methods for effectively measuring and reporting on corporate social responsibility (CSR), with a particular focus on short- and long-term investments in extensive and relevant social and environmental aspects, including:

Founded on April 4, 2015, the Islamic Reporting Initiative seeks to make ESG reporting standard practice in organizations across the Islamic world and OIC countries in particular. The IRI is headquartered in Amsterdam, The Netherlands, and (as of 2021) has members in over 50 countries.[2]

The Islamic Reporting Initiative is an accredited organization (with observer status) to the governing body of the United Nations Environment Programme (UNEP), the United Nations Environment Assembly of UNEP.[3]

Background

Internal market research conducted by EMG[4] in 2014 identified low rates of sustainability and CSR reporting despite a prevalence of sustainability and CSR practice in organizations where Islamic principles and values are an important element of corporate culture. The firm concluded that existing sustainability reporting standards, such as the Global Reporting Initiative (GRI) and ISO Standards, among others, were not always as practical or relevant in a local and cultural context.[5]

The Islamic Reporting Initiative was set up with the aim of creating a mainstream reporting standard for CSR based on Islamic principles.[6]

EMG supplied the initial funds of 230,000 (no related party transactions) as part of their own CSR program. Office space was provided by EMG, valued at €25,000 from 2015–2016. EMG Founder Daan Elffers performed all IRI-related duties pro bono.[7] EMG's advisory board chairperson is Prince Pieter-Christiaan of Orange-Nassau, van Vollenhoven.[8] Members of the advisory board include Gerrit Heyns, Michael Braungart, and Ida Auken, the former Danish Minister of the Environment.[9]

Islamic values and principles

The Islamic Reporting Initiative sees the values of peace, compassion, tolerance, justice, environmental management and human dignity as the foundations on which to implement enterprise sustainability and social responsibility on a universal scale.[10] The application of IRI standards during social responsibility practices is guided by the values of responsibility and accountable for the free will Ikhtiyar on personal action, and the social justice towards the society as guided by Allah through the values of Zakat (charity) and Sadaqah or philanthropy (Buhr & Gray, 2012; IRI Foundation, 2019). Other Islamic values that inform IRI standards include unity through moral respect and equality on others and the society, and the assuming Khalifah (vicegerent) role by representing Allah on earth through stewardship over nature and other resources in the environment (Elasrag, 2018; IRI Foundation, 2019).[11]

While the Islamic Reporting Initiative aims to support all types of organizations, not just Islamic banking and finance organizations, the IRI Standard will be compatible with Sharia-compliant finance.[12]

Recognition

Governance of the IRI Foundation

The Foundation (nonprofit) for the Islamic Reporting Initiative (Stichting IRI Reporting Standard) was founded on December 15, 2015.[15] The Trustees/board members of the foundation for the IRI are its founder Daan Elffers; entrepreneur, thought leader and philanthropist Mohamed Amersi; entrepreneur Amal Daraghmeh-Masri; investor Gerrit Heyns; and scholar Abdel-Aziz Sharabati.[16]

The IRI Advisory Council[17] includes Hakima El Haïté, Delegate Minister in charge of the Environment of Morocco and Host of the United Nations Climate Change Conference (COP22) in Marrakesh, and Taher Shakhshir, former Minister of Environment for Jordan[18] (Chairperson).

The IRI collaborates with a global network of governmental, corporate and nonprofit organizations worldwide, referred to as members. As of 2021, the IRI has members in more than 50 countries. On November 7, 2016, the IRI held its first round table as an official side event of the United Nations Climate Change Conference (COP22) [19]

The Islamic Reporting Initiative (Stichting IRI Reporting Standard) is a signatory of the United Nations Global Compact[20] and is a registered public benefit organisation as defined by the statute in the jurisdiction of the Netherlands ('ANBI' status).[21]

See also

References

  1. ^ "Sustainability Reporting Handbook for Employers' Organisations" (PDF).
  • ^ "List of IRI members per country".
  • ^ "Accredited organizations UNEP". 26 April 2018.
  • ^ "EMG".
  • ^ "Origins Islamic Reporting Initiative".
  • ^ "From the book "Islamic Marketing" by Čedomir Nestorović". doi:10.1007/978-3-319-32754-9_3.
  • ^ "Initial funding Islamic Reporting Initiative".
  • ^ "Islamic Reporting Initiative to transform CSR". 5 September 2015.
  • ^ "HH Prince Pieter-Christiaan van Oranje-Nassau Chairman of EMG Advisory Board". 30 April 2015.
  • ^ Litardi, Irene; Fiorani, Gloria; Harb, Denise (2019). "Corporate Social Responsibility in Islamic Culture. Comparison between Western CSR and Islamic CSR: focus on Islamic Reporting Initiative and Islamic Financial Institution". European Journal of Islamic Finance. doi:10.13135/2421-2172/3065.
  • ^ Haidar, Hassan Mousa; Sohail, Rabia Minatullah; Qurashi, Shatha Mohammed Al (2021). "Emerging Trends in Sustainability Reporting (SR): Comparative Literature Review in Developed, Developing and GCC Countries". Open Journal of Business and Management. 09 (6): 2697–2718. doi:10.4236/ojbm.2021.96149. S2CID 240468846.{{cite journal}}: CS1 maint: unflagged free DOI (link)
  • ^ "Islamic Reporting Initiative: Aligning local culture with CSR".
  • ^ http://gifr.net/publications/gifr2017/contributors.pdf [bare URL PDF]
  • ^ https://islamicreporting.org/sustainable-development-goals/%7Ctitle = SDG award
  • ^ "Bedrijfsinformatie bestellen".
  • ^ "Foundation for the Islamic Reporting Initiative expands Board of Directors". 23 March 2016.
  • ^ https://islamicreporting.org/about-iri/advisory-council/%7CIRI Advisory Council
  • ^ http://www.jordantimes.com/news/local/environment-minister-selected-advisory-member-int%E2%80%99l-initiative%E2%80%99
  • ^ http://www.men.gov.ma/Ar/cop22/Documents/Youth_CapacityBuilding.pdf [bare URL PDF]
  • ^ "UN Global Compact registration".
  • ^ https://www.belastingdienst.nl/rekenhulpen/anbi_zoeken/%7Ctitle = ANBI status registration

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