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The 2024 edition of the KPMG Survey of Sustainability Reporting looks at the reporting practices of 5,800 companies – comprised of the largest 100 companies in each of 58 countries (the N100). It revealed that GRI usage has risen to 71% (up three percentage points on 2022), while among a subset of the 250 largest multinationals (the G250) GRI adoption is steady, at 77%.
It is hugely encouraging that a growing number of leading companies around the world – over 70% – are using the GRI Standards. Sustainability reporting is more relevant than ever. Understanding and disclosing material topics is a crucial step in developing a robust sustainability strategy, informing the wider business strategy and, of course, managing risks and unlocking value. It is also clear that the advent of new regulations and disclosure expectations, which the KPMG survey is starting to reflect, will further mainstream the practice of sustainability reporting. The good news for the thousands of GRI reporting companies is that they are well prepared to also apply other standards, and GRI will help them on their disclosure journey.
The biannual KPMG research builds on recent analysis from the International Federation of Accountants (IFAC) that the GRI usage rate among 1,400 leading companies is 77%, while WBCSD’s Reporting Matters 2024, published on 7 November, found 83% of 181 large companies assessed report with the GRI Standards.Meanwhile, the 2024 ‘Carrots & Sticks’ report, released last week, tracked sustainability and ESG policies set by governments, agencies and other bodies. Of the global total, 18% (477 policies) reference GRI, with six mandating compliance and 127 recommending adoption.