Navigating the Landscape of Sustainability Reporting: A Critical Analysis and Recommendations for Future Harmonization
Navigating the Landscape of Sustainability Reporting: A Critical Analysis and Recommendations for Future Harmonization

Summary/Abstract: This paper aims to conduct a thorough examination of the relevant regulations and standards governing sustainability reporting in enterprises. Based on this analysis, the objective is to draw conclusions and provide recommendations for future development, emphasizing the need for harmonization in this area. The research methodology involves a bibliometric analysis of publications in the Scopus Database from 2017 to 2023, review of key publications on the subject, and a critical analysis of existing regulatory requirements.The analysis of the current situation reveals that, despite some alignment among major sustainability reporting standards, there remains a lack of consensus among standardization bodies on crucial aspects such as the scope of reported information, the specific number of sustainability indicators (KPIs) in various areas and notable inconsistencies in applying the concept of materiality. Consequently, it can be concluded that the process of harmonizing sustainability reporting is an ongoing challenge. The struggle for dominance among major players in this field is expected to persist, but it should not come at the expense of companies obliged to report on sustainability or compromise the quality of the reported information.

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