Spotlight Frameworks and standards Figure 3: Reference to standards and frameworks (% of reports) Alignment with mandatory reporting frameworks is prevalent, with 48% of reports indicating CSRD alignment or preparation. At the same time, our analysis revealed a 14% drop in reports referencing the Global Reporting Initiative (GRI) and a 9% drop in those referencing the Sustainable Accounting Standards Board (SASB). References to the Science Based Targets Network (SBTN) framework also decreased, down to 22% from 30% last year. In light of the mandatory reporting requirements taking effect this year, we began looking for explicit references to CSRD and ISSB as an indication of the level of alignment with or preparation for these reporting standards. Twenty-three percent (23%) of reports reviewed indicate CSRD alignment, compared to 4% referencing ISSB alignment. Another 25% of reports indicate companies preparing for CSRD, while 7% indicate preparation for ISSB. Breaking this down by region: ISSB is more developed in APAC – with 12% of reports indicating ISSB alignment and 19% indicating preparation for ISSB. CSRD is more prominent in EMEA, where 41% of reports indicate CSRD alignment and another 38% indicate preparation for CSRD. In the Americas, 19% of reports indicate CSRD preparation and 9% are preparing for ISSB. While references to mandatory reporting requirements are increasingly evident, there is a noticeable decrease in references to the GRI and the SASB, standing at 15% and 9% respectively. The breakdown by region reveals a more complex story; in APAC and the Americas, the GRI remains the most cited reporting standard, with 86% and 72% mentioning the GRI framework, respectively, compared with 59% in EMEA; 64% of reports reference SASB in the Americas, compared to 51% in APAC and 49% in EMEA. The overall decrease in the GRI and SASB can be attributed to some companies shifting their focus towards mandatory frameworks, such as CSRD and ISSB. Nature-related disclosures do not follow the growth trajectory observed last year. We found a 2% drop in references to the Taskforce on Nature-related Financial Disclosures (TNFD) and an 8% decrease in references to SBTN. APAC is a leader here, with 63% of reports referencing TNFD compared to 50% of reports globally. CSRD ISSB GRI SASB TCFD TNFD SBTN GRI SASB TCFD TNFD SBTN GRI SASB TCFD TNFD SBTN 2024 2023 2025