Putting integrated reporting to work

Flag’s long-standing collaboration with the Duchy of Cornwall can’t compare with a history that stretches over the centuries. All the same, we’re proud to look back at what we’ve achieved with our client for the Duchy’s annual reporting.

Heading in the right direction

The challenge

The Duchy of Cornwall has long considered integrated thinking to be fundamental to sustainable development and, as such, it has always been part of how the estate is managed. Flag began work with the Duchy in 2014, developing a roadmap that would lead to full adoption of the International <IR> Framework.

2015–2017: The path to sustainable stewardship reporting

The process

Over a three-year reporting cycle, Flag helped the Duchy use the Framework’s guiding principles and content elements to articulate the organisation’s integrated thinking.

Milestones included:

  • a materiality process with key internal and external stakeholders to inform the 2015 report
  • clear expression of the business model, strategic objectives, key factors influencing performance and governance structure
  • enhanced information on stakeholders and their priorities
  • the Duchy’s use of corporate natural capital accounting for the first time (the 2016 report being one of the first large-scale applications in the UK)
  • the transition to fully integrated disclosure in the 2017 report, which was selected by the International Integrated Reporting Council to illustrate good practice.
Cover of the report We developed a narrative framework around the value the Duchy creates for its key stakeholders and how the organisation responds to their needs.

2018–2020: Maintaining quality and momentum

The solution

Flag’s expertise in integrated reporting fully supports the Duchy’s goals of transparency and rigour. At the same time, we have kept our focus on creating accessible communication by applying our visual design and copywriting skills. All reports have been designed in line with the Duchy of Cornwall’s ethos under the umbrella theme of ‘sustainable stewardship’ and have been developed to reflect the purpose and culture that drive this unique organisation.

Integrated reporting is helping us improve the way we talk about how we work and the value we create – financial, social and environmental. We’re now presenting what we do in a more comprehensive and associated way, both internally and externally.

Andrew Phillips Rural Director of Finance, The Duchy of Cornwall

What we did

  • Integrated reporting consultancy
  • Stakeholder engagement and materiality analysis (year one)
  • Copywriting (year one) and editing (subsequent years)
  • Creative and concept design
  • Print design and artwork
  • Information design
  • Production and project management

About the Duchy of Cornwall

The Duchy of Cornwall is a private estate established by Edward III in 1337 to provide independence to his son and heir, Prince Edward. A charter ruled that each future Duke of Cornwall would be the eldest surviving son of the Monarch and heir to the throne. The current Duke of Cornwall, HRH The Prince of Wales, is the longest serving Duke in history. The revenue from his estate is used to fund the public, private and charitable activities of The Duke and his children. For more information, visit the Duchy of Cornwall website.