International Olympic Committee publishes 2020 Annual Report and Financial Statements

20 Jul 2021
IOC News IOC Session

The International Olympic Committee (IOC) today published its 2020 Annual Report and financial statements, following their approval by the Members at the 138th IOC Session in Tokyo, Japan.

IOC President Thomas Bach during the first day of the 138th IOC Session IOC / Greg Martin

The IOC Annual Report 2020: Credibility, Sustainability, Youth is the seventh edition of the series. It is a direct result of Recommendation 29 of Olympic Agenda 2020: Increase Transparency. This edition of the Report focuses on the IOC in 2020, including its efforts to reorganise the postponed Olympic Games Tokyo 2020 and the wide-ranging support given to athletes to assist them amid the COVID-19 pandemic.

In addition to outlining the activities carried out during the year, it includes the audited financial statements for 2020, along with the IOC Members’ Indemnity Policy. In the interests of full transparency and disclosure, the financial statements are prepared and audited according to International Financial Reporting Standards (IFRS), even though the IOC is not legally obliged to comply with these higher standards.

The year 2020 started with great promise and very successful Youth Olympic Games Lausanne 2020, which saw some of the best young winter athletes compete on snow and ice in the IOC’s hometown. This was to be one of the few international multi-sport events of the year. Then, in March 2020, as the coronavirus pandemic spread around the world, the first-ever postponement of the Olympic Games was announced, as Tokyo 2020 was rescheduled to 2021. As soon as this was decided, the IOC and all its partners united and devoted themselves steadfastly to reorganising the event one year later. These efforts are outlined in the Annual Report.

While the focus was resolutely on the reorganisation of the Olympic Games Tokyo 2020, all the other activities of the IOC and the Olympic Movement stakeholders continued apace. Athlete programmes aimed at supporting athletes on and off the field of play were stepped up, while Olympic Solidarity funding was increased to help National Olympic Committees continue to support their athletes, including refugee athletes. Additional support was also made available to the International Federations.

In a sign of the times, the IOC’s digital strategy really began to come into its own, as new digital campaigns including #StayActive, #StayHealthy and #StayStrong resulted in growing public engagement and enabled athletes to remain connected with their audiences despite the absence of the Olympic Games.

Another key achievement of the year was the conclusion of Olympic Agenda 2020, the IOC’s strategic roadmap adopted in 2014. Olympic Agenda 2020 has had a profound impact, strengthening the IOC and the Olympic Movement by introducing changes intended to make the Olympic Games fit for the future; safeguarding the Olympic values; and strengthening the role of sport in society.

All these activities are described in the 2020 Annual Report. They are a powerful testament to what can be achieved when we stand united and offer a confident outlook for the future.

The IOC Annual Report 2020 is accessible online here.

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