2024 Reporting Matters: How Companies Are Meeting Rising Sustainability Demands and Regulations Key Insights

The 2024 Reporting Matters report, published by WBCSD and Radley Yeldar, highlights how companies are responding to increasing demands and regulations in sustainability reporting. With the CSRD and ISSB driving change, sustainability reporting is now on equal footing with financial reporting.

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Here are some of the key Insights:

• Double Materiality: Adoption of double materiality surged to 77% in 2024, up from 55% in 2023, as businesses prepare for regulatory requirements.
• Timeliness: The average publication time for sustainability reports remains consistent at four months post-financial year-end, with 41% publishing within three months.
• External Assurance: 90% of reports include some level of assurance, with EMEA leading in providing combined or reasonable assurance.
• Framework Adoption: The use of sustainability frameworks continues to grow:
• 88% reference TCFD, a rise from 84% in 2023.
• 52% reference TNFD, reflecting a doubling of adoption compared to 2023.
• Increasing alignment with EU Taxonomy and CSRD.

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Emerging Trends:

• Companies are embedding sustainability into governance and strategy, with 73% linking executive compensation to sustainability performance.
• Stakeholder engagement is evolving, with businesses placing greater emphasis on understanding value chain impacts and conducting in-depth materiality assessments to address stakeholder needs more effectively.
• There is greater emphasis on dynamic materiality, with 55% addressing evolving topics

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Learn More:

Access the full report: https://www.wbcsd.org/wp-content/uploads/2024/11/RY-WBCSD_Reporting_Matters_2024.pdf 

Explore WBCSD resources: https://www.wbcsd.org/resources/