International accountancy bodies unite to develop ESG disclosure frameworks

March 6, 2025

Several global and European accounting organisations have collaborated on a project to develop consistent frameworks for ESG disclosures.

The organisations are working together to establish harmonised guidelines to address current reporting inconsistencies and enable clear comparisons of corporate performance across various markets and regulatory frameworks.

The collaboration aims to simplify compliance by fostering a unified approach, which will provide a more reliable framework for evaluating both financial and non-financial performance.

Although the details of the new standards are still being developed, industry experts consider the initiative a necessary response to rapid technological advancements and the shifting priorities of corporate governance.

The initiative comes in response to the growing demand for transparent and standardised ESG reporting as stakeholders place greater scrutiny on corporate sustainability efforts.

Multinational companies have also faced increasing pressure from investors and regulators to align differing national reporting standards.

The project highlights a broader industry shift towards modernisation and enhanced transparency, reflecting the growing importance of non-financial metrics in evaluating corporate health.

The organisations will also work together to refine the use of digital tools like AI, blockchain, and data analytics to improve data accuracy and streamline audit processes.

The aim is to reduce reliance on manual interventions, minimise the risk of errors, and ultimately strengthen the integrity of financial reporting.

The upcoming changes are expected to establish a new benchmark for how companies report their performance in an era marked by digital transformation and increased ESG awareness.

Minerva’s blog focuses on the latest developments in ESG investing and stewardship. Minerva is a global provider of sustainable stewardship solutions with over 25 years of expertise. Minerva empowers investors by providing essential tools, including ESG research and data, enabling them to navigate the intricate landscape of stewardship and proxy voting, whilst ensuring their decisions are well-informed and aligned with sustainable principles.

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