2024 marked a pivotal year in global ESG (Environmental, Social, Governance) regulation, with over 80 countries adopting or updating mandatory sustainability reporting standards. The EU’s Corporate Sustainability Reporting Directive (CSRD) came into force January 2024, requiring more than 50,000 companies to disclose detailed non-financial information aligned with new European Sustainability Reporting Standards (ESRS). This regulatory surge is a clear global signal that transparency and accountability on social and environmental impact are no longer optional but a critical component of corporate governance. Companies now face rigorous disclosure obligations, including climate risks, biodiversity impacts, and diversity metrics. Simultaneously, jurisdictions like Canada introduced greenwashing regulations and mandatory climate disclosure rules for federally incorporated private companies, further underscoring the urgency of credible ESG transparency. This regulatory environment is driving corporations to overhaul their reporting frameworks, invest in enhanced data collection technology, and engage stakeholders with more meaningful sustainability narratives.
For detailed analysis: https://novisto.com/de/resources/blogs/the-top-5-esg-developments-of-2024
