Write short notes on the following: Integrated Reporting and Sustainability Reporting

Integrated reporting is an emerging and evolving trend in corporate reporting, which primarily aims to offer an organization's providers of financial capital with an integrated representation of the key factors that are material to its present and future value creation. Integrated reporters build on sustainability reporting foundations and disclosures in preparing their integrated report. Through the integrated report, an organization provides a concise communication about how its strategy, governance, performance and prospects lead to the creation of value over time. Conceptually, integrated reporting would build on the existing financial reporting model to present additional information about a company's strategy, governance, and performance. It is aimed at providing a complete picture of a company, including how it demonstrates stewardship and how it creates and sustains value. Sustainability reporting is a process that assists organizations in setting goals, measuring performance and managing change towards a sustainable global economy one that combines long term profitability with social responsibility and environmental care. Sustainability is the key platform for communicating the organization's economic, environmental, social and governance performance, reflecting positive and negative impacts. The aspects that the organization deems to be material, in response to its stakeholders' expectations and interests, drive sustainability reporting.