As mandatory ESG reporting looms, KPMG’s latest survey reveals GRI remains the dominant framework, with 77% of the world’s largest companies and 71% of surveyed national firms now using GRI Standards for sustainability reporting.
The adoption of Global Reporting Initiative (GRI) Standards continues to strengthen its position as the leading framework for sustainability reporting worldwide, according to KPMG’s Survey of Sustainability Reporting 2024. The research, which examined 5,800 companies across 58 countries, demonstrates that GRI Standards maintain their status as the most widely used sustainability reporting framework globally.
The survey findings show that 77% of G250 companies (the world’s 250 largest companies by revenue) use GRI Standards, maintaining stable high adoption rates from previous years. More notably, the broader N100 groups (top 100 companies in each surveyed country) showed increased adoption, rising to 71% in 2024, up from 68% in 2022.
“GRI remains the most popular set of standards in all regions, with usage ranging from 64% in the Middle East and Africa to 75% in Asia Pacific,” notes the KPMG report. This widespread adoption across different regions underscores GRI’s universal applicability and acceptance.
Regional leadership and variations on sustainability reporting
The research highlights significant regional variations in GRI adoption. Several countries demonstrate particularly high adoption rates:
- Taiwan leads with 100% of companies using GRI Standards
- Singapore follows with 97% adoption
- Japan, Spain, and South Korea each show 94% adoption rates
However, some markets show lower adoption rates, with Pakistan (18%) and Estonia (24%) having the lowest GRI implementation among surveyed countries. These variations often reflect different regulatory environments and market maturity levels in sustainability reporting.
Integration with other frameworks
As the sustainability reporting landscape evolves, companies are increasingly using multiple frameworks alongside GRI. The survey reveals that while GRI remains predominant, other frameworks such as SASB Standards (now part of the IFRS Foundation) are gaining traction, with 56% of G250 companies and 41% of N100 companies now using SASB Standards.
Dr. Jan-Hendrik Gnändiger, Global ESG Reporting Lead at KPMG International, suggests: “With years of analysis on the books, we appreciate how a robust sustainability reporting ecosystem helps businesses not only measure progress on executing their ESG strategy but also drive value while mobilizing capital markets.”
Impact of mandatory reporting
The survey indicates that the move toward mandatory reporting, particularly with the EU’s Corporate Sustainability Reporting Directive (CSRD), is influencing reporting practices. However, GRI’s position remains strong even as companies prepare for these new requirements, suggesting its continued relevance in the evolving regulatory landscape.
The research shows varying adoption rates across different sectors, with some industries showing particularly strong commitment to GRI reporting. This variation often reflects sector-specific sustainability challenges and stakeholder expectations.
Looking ahead
As sustainability reporting continues to evolve from voluntary to mandatory requirements in many jurisdictions, GRI’s role appears set to remain crucial. John McCalla-Leacy, Head of Global ESG at KPMG International, emphasises that “ESG innovation can help us positively modify our impacts, report on them with compliance and speed, support markets by directing capital to the most sustainable companies, and deepen our well of knowledge.”
Key takeaways for companies
For organisations considering or already implementing sustainability reporting, the survey highlights several important considerations:
- GRI Standards provide a comprehensive foundation for sustainability reporting
- Integration with other frameworks can offer complementary benefits
- Early adoption of robust reporting frameworks can help prepare for upcoming mandatory requirements
- Regional variations should be considered when developing reporting strategies
The KPMG survey demonstrates that GRI Standards continue to play a pivotal role in corporate sustainability reporting. As companies worldwide face increasing pressure to provide transparent, comprehensive sustainability information, GRI’s established framework offers a tried and tested approach to meeting these demands.
With mandatory reporting requirements on the horizon in many jurisdictions, GRI’s continued dominance suggests it will remain a key tool in helping companies navigate the evolving landscape of sustainability reporting, while meeting the growing demands of stakeholders for transparent and comparable sustainability information.
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