Corporate Accountability and Climate Governance through the lens of Global Reporting Frameworks

Abstract

This paper explores corporate accountability and climate governance through the lens of global reporting frameworks, emphasizing the pivotal role these frameworks play in promoting transparency, sustainability, and responsible business practices worldwide. The Global Reporting Initiative (GRI), as a leading framework, sets comprehensive standards for organizations to disclose their environmental, social, and governance (ESG) impacts, particularly emphasizing climate-related reporting. New standards focusing on climate change and energy empower companies to disclose emissions, decarbonisation efforts, and energy management aligned with authoritative climate science and international agreements such as the Paris Accord. The study analyzes how robust sustainability reporting frameworks foster stakeholder trust, guide strategic corporate behavior, and support policy development essential for addressing global climate challenges. It also discusses challenges of inconsistent disclosures, greenwashing, and the evolving convergence of ESG standards for improved comparability and accountability. The research highlights emerging trends such as integration with financial reporting standards, the growing role of technology and data analytics in ESG disclosure, and the critical need for governance structures that embed climate responsibility at the highest organizational levels. Through a comprehensive review, the paper underscores the significance of global reporting frameworks in driving corporate climate action, enhancing the quality of climate governance, and advancing sustainable development goals. These insights serve as a guide for policymakers, businesses, and stakeholders seeking to align corporate accountability with climate resilience imperatives in an increasingly interconnected global economy.