Non-Financial Disclosures: Standards, Strategies, and Future Outlook

Sandra Dow () and Yuwei Shi ()
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Sandra Dow: Middlebury Institute of International Studies at Monterey
Yuwei Shi: University of California at Santa Cruz

Chapter Chapter 4 in Corporate Finance Under Climate Crisis, 2025, pp 67-100 from Springer

Abstract: Abstract Non-financial disclosures (NFDs) are the most significant development in corporate reporting globally. The development focuses on enhancing transparency, accountability, and alignment with environmental, social, and governance (ESG) considerations. But its evolution from voluntary disclosures to the emergence of standardized frameworks such as the Task Force on Climate-related Financial Disclosures (TCFD), which have become integral to corporate strategy and stakeholder engagement, is both rich and informative. This chapter reviews the history of NFD development and analyzes the challenges posed by fragmented standards, greenwashing concerns, and the evolving regulatory landscape, while also highlighting advancements in technology and reporting practices that support greater consistency and comparability. By providing a comprehensive overview of NFDs, this chapter sets the stage for a deeper exploration of firm-level greenhouse gas emissions reporting in Chapter 5 , transitioning from general sustainability frameworks to the specific measurement and disclosure challenges faced by businesses in a climate-conscious economy.”

Keywords: Non-Financial Disclosures; ESG Reporting Standards; Task Force on Climate-Related Financial Disclosures (TCFD); Corporate Sustainability Reporting; Global Reporting Initiative (GRI); Regulatory Trends in Non-Financial Disclosures; Greenwashing and Corporate Accountability; Standardization in ESG Disclosures; Future of Sustainability Reporting; Challenges in ESG Data Transparency (search for similar items in EconPapers)
Date: 2025
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DOI: 10.1007/978-3-031-83487-5_4

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