Despite the United States lagging behind, sustainability reporting is flourishing globally. More countries are adopting mandatory reporting regimes and sustainability reports are becoming commonplace among large multinational companies. A recent report from the International Federation of Accountants (IFAC) studied trends in sustainability reporting between 2019 and 2024, here are some key highlights:
- “97% of large global companies disclosed sustainability-related information in 2024
- 75% obtained assurance on at least some of their sustainability disclosures
- One-third referenced the use or future use of International Sustainability Standards Board (ISSB) Standards – more than double the previous year
- 20% referenced the use or future use of European Sustainability Reporting Standards (ESRS)
- Audit firms performed 59% of sustainability assurance engagements globally
- In the European Union, reporting and assurance levels remain particularly high, reflecting the maturity of practices driven by EU regulation (notably CSRD and ESRS)”
In addition to the proliferation of reporting, companies are also increasingly seeking assurance for their sustainability data. This reflects a growing maturity among reporters. Additionally, with standardized and interoperable systems like the ISSB and ESRS becoming more widely adopted, data is more comparable than ever.
Our members can learn more about disclosure practices and trends here.
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