One-third of companies now reference ISSB standards for sustainability disclosures, up from 16% in 2023, signaling convergence in reporting practices.
Global companies are increasingly aligning with the International Sustainability Standards Board (ISSB) and European Sustainability Reporting Standards (ESRS), a new study shows. In 2024, 33% of firms disclosed current or planned use of ISSB standards, nearly doubling from 16% in 2023. ESRS adoption also climbed, with 20% of companies reporting or planning to use the framework, reflecting EU influence beyond its borders.
The study reviewed 1,400 companies across 22 jurisdictions and found 97% provided some form of sustainability disclosure in 2024, though this marked a slight decline from the prior year. References to other frameworks, including the Task Force on Climate-Related Financial Disclosures and Global Reporting Initiative, saw single-digit declines. The shift suggests a move toward standardized reporting amid regulatory and investor pressure.
While convergence is growing, companies still rely on a mix of standards, highlighting ongoing fragmentation in sustainability disclosures. The trend may accelerate as jurisdictions adopt ISSB and ESRS as mandatory requirements.