Abstract
In the changing dynamics of world finance, sustainability reporting has become an effective tool for increasing transparency and corporate accountability. This paper examines the pivotal nexus of sustainability disclosures and financial transparency and how they are becoming increasingly important in enforcing accountability in contemporary financial systems. Through the discussion of historical development in sustainability reporting standards and their convergence with mainstream financial reporting, the research underlines how non-financial disclosures are redefining stakeholder expectations. The paper also explores pivotal drivers behind this trend, including regulatory regimes, investors' awareness, and ethical conduct of businesses. Although the promise of sustainability reporting to promote accountability is so high, obstacles such as green washing and varying disclosure standards remain. This theoretical inquiry seeks to gain a deep understanding of the role played by sustainability reporting in bringing about open financial ecosystems and paving the way for more ethical and informed corporate decision-making. Last but not least, it emphasizes the necessity of more robust international frameworks to harmonize and improve the legitimacy of sustainability disclosures. Keywords: Sustainability Reporting, Financial Transporting, Corporate Accountability, ESG Disclosure, Modern Finance, Regulatory Frameworks, Stakeholders, Non-Financial Reporting and Sustainability standard
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