GRI Standards Maintain Leadership in Global Sustainability Reporting

New research underscores the continued dominance of the GRI Standards as the preferred framework for sustainability reporting among leading companies across the globe.

The 2024 KPMG Survey of Sustainability Reporting examined the practices of 5,800 businesses, representing the largest 100 companies in 58 countries (N100). The findings reveal that 71% of these companies now use GRI Standards, a three-point rise since 2022. Among the world’s 250 largest multinational corporations (G250), adoption remains strong at 77%. With 90% of reporting companies opting for GRI Standards, sustainability reporting is now a well-established practice.

Source: 2024 KPMG Survey of Sustainability Reporting, The move to mandatory reporting

Highlights from the 2024 KPMG Survey

  • Regional Adoption Rates:
    GRI Standards are the top choice in all regions – Asia-Pacific (75%), Europe (71%), the Americas (70%), and the Middle East & Africa (64%);
  • Leading Countries:
    Taiwan leads with 100% GRI adoption among its major companies, followed closely by Singapore (97%) and Spain, Japan, and South Korea (all 94%);
  • Independent Assurance:
    Over half of N100 companies (54%) and 69% of G250 companies now secure independent assurance for their sustainability reports. This aligns with IFAC's analysis, which identifies GRI reports as the most frequently assured;
  • Focus on Double Materiality:
    A growing number of companies, including 50% of the G250, are conducting double materiality assessments, reflecting a deeper understanding of the need to report on socio-environmental impacts alongside financial risks and opportunities;
  • Emerging Standards:
    Early adoption of the European Sustainability Reporting Standards (ESRS) and the International Sustainability Standards Board’s IFRS-S2 is gaining traction, though voluntary use of GRI Standards continues to dominate.

Source: 2024 KPMG Survey of Sustainability Reporting, The move to mandatory reporting

Expert Insights

Cristina Gil White, Interim CEO of GRI, highlighted the growing role of sustainability reporting:

"With over 70% of global leaders using the GRI Standards, it’s clear that sustainability reporting is essential for managing risks, unlocking value, and developing forward-thinking business strategies. As new regulations emerge, companies using GRI are well-prepared to integrate additional frameworks into their reporting."

Supporting Evidence from Related Reports

The prominence of GRI Standards is further reinforced by recent studies:

Meanwhile, the 2024 Carrots & Sticks report documented 477 global policies referencing GRI, with six mandating compliance and 127 recommending its adoption.

A Strong Foundation for Future Reporting

As sustainability regulations expand, the GRI Standards remain at the forefront, equipping companies to address both current reporting needs and emerging disclosure requirements. For organisations seeking to align with global expectations, the GRI framework provides a trusted and adaptable foundation.