Value of payments made by the organization as legal or regulatory fines and settlements during the reporting period.
Organizations should footnote the number of fines and settlements, as well as a description of the types of fines paid and actions that were taken to prevent them from being incurred in the future. See usage guidance for further information.
This metric is intended to capture the value of legal or regulatory fines and settlements paid by the organization during the reporting period. Depending on the category in which the organization operates, fines could be associated with (but not limited to) any of these: -Bribery or corruption, including violations of the US Foreign Corrupt Practices Act (FCPA) or UK Bribery Act -Data security breaches -Diversity and equal opportunity -Cartel activities, price fixing, anti-trust activities -Consumer privacy -Environmental violations -Employee safety or workplace conditions -False, deceptive, or unfair advertising -False marketing claims -Federal pipeline and storage regulations -Financial reporting inaccuracies -Labor law violations -Land rights disputes -Libel or slander -Money laundering -Tax evasion
Organizations should consider reporting this metric in conjunction with Number of Legal and Regulatory Complaints (OI2165).
Metrics identified as "cross-category" are those that are relevant to any IRIS+ Impact Category or Impact Theme (i.e., these metrics are not specific to any particular industry/category or theme).
June 2022 - IRIS v5.3 Released (current version)
Immaterial change. Minor revisions to definition and usage guidance for clarity.
January 2020 - IRIS v5.1 Released
No change.
May 2019 - IRIS v5.0 Released
No change.
March 2016 - IRIS v4.0 Released
New metric. Value of Fines and Settlements (OI7639) was developed via the IRIS Taxonomy Group.
IRIS Metrics Work Better in Sets
To use IRIS metrics—and the resulting data—to understand impact performance, IRIS metrics should be used and analyzed in generally accepted sets and according to well-defined objectives. IRIS+ gives you access to generally accepted Core Metrics Sets aligned to common Impact Themes and Sustainable Development Goals (SDGs).