IFAC and AICPA & CIMA study observes more detail in sustainability reporting
23 Feb 2024
The International Federation of Accountants (IFAC), together with AICPA & CIMA, has published an update to its study on the sustainability reporting and assurance practices of the largest global companies. The study reveals that there is now more detail and breadth in these companies' sustainability reporting.
The study, which is an annual benchmark that has now been updated for 2022 data, also shows that the companies included in the study are obtaining a greater scope of assurance on their sustainability disclosures. In detail, the study finds that 98% of companies reported some level of detail on sustainability with 69% obtaining assurance on at least some of their sustainability disclosures.
The study also found that companies are still using a mix of reporting standards, which, according to the press release, makes it challenging for investors, lenders and other stakeholders to find consistent and comparable sustainability information. The study therefore identifies a need for entities worldwide to move toward a global system of sustainability disclosure requirements.
For more information, including access to the study, please see the press release on the IFAC website.
