A comprehensive review of global academic research has found that nearly three-quarters of studies link sustainability reporting with stronger financial performance, underscoring the growing business case for corporate impact disclosure.
The analysis, published by Global Reporting Initiative (GRI) and titled From impact to income: How sustainability reporting affects the bottom line, examined 30 peer-reviewed empirical studies published between 2010 and 2025. The review assessed whether sustainability reporting improves companies’ access to capital, operational efficiency and risk management.
According to the findings, 22 of the 30 studies—around 73%—identified a positive correlation between sustainability reporting and improved financial performance, particularly when disclosures are aligned with globally recognised standards. Six studies produced mixed or inconclusive results, while only two found a negative relationship.
The review also found that robust reporting based on the GRI Standards is associated with reputational benefits, including stronger stakeholder trust, greater brand loyalty and higher employee satisfaction. These factors can, in turn, improve access to capital from investors.
Financial outcomes were shown to vary depending on factors such as sector, company size, regulatory environment and geography. Organisations operating in higher-risk sectors—including energy, mining and manufacturing—were found to derive the strongest financial benefits from sustainability reporting, highlighting the value of sector-specific disclosure guidance.
“Sustainability reporting offers multiple benefits to organisations, the environment and society, yet its relevance to the corporate bottom line is often undervalued,” said Bastian Buck, chief standards officer at GRI. “It is therefore significant that 73% of the studies we analysed found a positive correlation between sustainability reporting and financial performance. More action and support are needed to improve the quality and use of sustainability reporting, including reporting on impacts, with the GRI Standards playing a central role in the emerging global reporting system.”
