2024 brought notable improvements in the rigor of sustainability reporting, particularly in how companies assess and report material ESG topics. A significant rise in companies conducting double materiality assessments—evaluating impacts financial and societal—shows growing sophistication in sustainability governance. External assurance of sustainability disclosures reached 90%, with more firms obtaining reasonable assurance on key performance indicators, greatly enhancing report reliability. Additionally, reporting frameworks expanded to include nature-related standards such as TNFD (Taskforce on Nature-related Financial Disclosures) and SBTN (Science-Based Targets Network). This evolution was essential in meeting rising stakeholder expectations for credible, comprehensive, and comparable non-financial disclosures that truly reflect companies’ impacts and dependencies on environmental and social capital.
For detailed analysis: https://wbcsd.org/news/reporting-matters-2024-changing-gears-in-sustainability-reporting
