Briefing / Integrated Reporting in the context of the Well-being of Future Generations Act (Wales) 2015

The Wellbeing of Future Generations Act (Wales) 2015 (the 2015 Act) is a key part of the drive to address the challenges facing the public sector in Wales.  It aims to improve social, economic, environmental and cultural wellbeing in Wales.  The challenges faced by Wales now and in the future are not unique. However, using explicit legislation as a framework to address them is. Its intention is to make public bodies think about the long term, work better with people and communities and each other and look to prevent problems. 

Integrated Reporting (IR) is an approach gaining momentum globally that aims to communicate a clear, concise integrated story based on how value is created in the short, medium and long term. Is this a potential tool for drawing together the system wide strategies and reporting required to respond to the 2015 Act?

Organisations in Wales are at an early stage of implementing plans to meet the well-being objectives and this briefing aims to raise awareness of the 2015 Act and the possibilities of IR. It will explore the 2015 Act and the requirements it places on organisations individually and collectively; the links to value-based healthcare; and whether IR can support organisations in thinking about and demonstrating their contribution to the well-being goals.

The HFMA would welcome any feedback on this briefing and would like to hear from people to share good practice as the arrangements develop.