It seems that wherever we turn in corporate New Zealand, the Sanford integrated reports are held in the highest esteem and the benchmark that other companies measure their integrated reporting progress by. We have produced all seven of the Sanford reports, starting in 2014. (And prior to that, their annual and sustainability reports since 2008.)

With a clear eye on the future, Fonterra’s 2020 report introduced many of the elements of integrated reporting. But they were under no illusions – this was not yet an Integrated Report. Just embarking on the journey has many benefits: the organisation gets familiar with the principles, it introduces the benefits and notions of integrated thinking, and helps shift the corporate mindset.

Expecting people to change their entire mental picture of who you are and what you do takes an arresting shift in communication style. Vector chose this Annual Report to lead the bold charge on this core repositioning, because it has the stamp of corporate authority to send the strongest possible signal that this is who we are today.

When you‘re not quite ready to tell a fully integrated story, or your sustainable story is so rich and detailed that it’s too much for your average reader, a standalone Sustainability Report still has a role to play. For Fonterra, sustainability is a critical factor in its social licence to operate.