What is an integrated report? How is it different from an ordinary annual report?

An integrated report is a concise communication about how an organization's strategy, governance, performance and prospects, in the context of its external environment, lead to the creation of value in the short, medium and long term. It is a more comprehensive form of reporting that goes beyond the traditional financial focus to include environmental, social and governance (ESG) factors, which are increasingly recognized as important drivers of value creation.

The main difference between an integrated report and an ordinary annual report lies in the scope and purpose of the report. An ordinary annual report primarily focuses on the financial performance of the organization over the past year. It includes financial statements, a discussion of the company's operations and an analysis of the company's ability to deal with different business risks.

On the other hand, an integrated report provides a more holistic view of the company's ability to create value over time. It includes not only financial information, but also information about the company's strategy, business model, governance, performance and future prospects. It also includes information about the company's social and environmental impact, and how it manages relationships with its key stakeholders.

In essence, while an ordinary annual report looks at the past, an integrated report looks at the past, present and future, providing a more comprehensive view of the company's performance and prospects.