Global sustainability reporting continues to move toward greater consistency and standardization, but regulatory uncertainty and shifting political priorities remain obstacles, according to a new report from the International Federation of Accountants (IFAC) and the AICPA and CIMA. 

The report, The State of Play: Sustainability Disclosure and Assurance (Six-Year Trends and Analysis, 2019–2024), found that 97% of companies surveyed disclosed some form of sustainability information in 2024. In addition, 75% obtained some level of assurance over their disclosures, while 59% used audit firms as their assurance provider, up from 55% in 2023. 

According to the Journal of Accountancy, the report describes sustainability reporting as “transitioning from a fragmented landscape toward one that is increasingly structured, standardized, and integrated,” while cautioning that progress “may continue to be challenged by shifting geopolitical and regulatory sentiment within some of the world’s largest economies.” 

Among the 100 largest U.S. companies, 95% disclosed sustainability information in 2024, down slightly from full participation in 2023. While 88% of those companies obtained assurance over their disclosures, compared with 90% the previous year, the percentage using audit firms for sustainability assurance continued to increase, rising to 32% from 28% in 2023. 

“The growing use of audit firms for sustainability assurance is a good sign for capital markets and investors,” said Sue Coffey, CPA, CGMA, the AICPA’s CEO–Public Accounting in a news release. “Auditors have earned their reputation for trust and expertise, backed by strong education requirements and strict rules on independence and professional integrity.” 

The report also highlighted Turkey as an example of how adoption of International Sustainability Standards Board standards can accelerate both sustainability reporting and assurance, underscoring the role standardized frameworks may play as global reporting practices continue to evolve.