A comprehensive review of sustainability reporting research reveals a clear global shift: corporate sustainability reports are no longer treated merely as compliance documents but are increasingly used as strategic tools for long-term business value. This conclusion comes from Masniatul Aulia and Dr. Lilik Purwanti of Universitas Brawijaya, Indonesia, whose peer-reviewed article was published in 2026 in the Indonesian Journal of Entrepreneurship & Startups (IJES). The findings matter because sustainability reporting now plays a central role in investment decisions, corporate governance, and public trust in businesses worldwide.
The article, titled “Sustainability Reporting Trends: A Systematic Literature Review,” maps recent academic research on sustainability reporting and Environmental, Social, and Governance (ESG) disclosure. By systematically reviewing hundreds of scientific papers, the authors identify dominant research themes, methodological patterns, and critical gaps that shape how sustainability reporting is understood and practiced today.
Why sustainability reporting matters now
Over the past decade, sustainability reporting has moved from the margins of corporate communication into the core of business strategy. Climate change risks, social inequality, and governance failures have pushed governments, regulators, and investors to demand greater transparency from companies. International standards such as the Global Reporting Initiative (GRI) and the International Sustainability Standards Board (ISSB) have strengthened expectations for comparable and credible sustainability information.
In Indonesia, regulatory pressure has also increased. Financial institutions and listed companies are encouraged— and in some cases required— to publish sustainability reports under regulations issued by the Financial Services Authority (OJK). Despite this progress, questions remain about the real quality and usefulness of these reports. Are companies disclosing sustainability information to genuinely improve performance, or mainly to protect legitimacy and public image?
The study by Masniatul Aulia and Lilik Purwanti addresses this question by examining how scholars around the world analyze sustainability reporting and what conclusions they draw from existing evidence.
How the research was conducted
The authors applied a Systematic Literature Review (SLR) approach, a structured method for analyzing large bodies of academic literature. They reviewed 363 peer-reviewed journal articles published between 2019 and 2025.
The dataset consisted of:
169 Indonesian journal articles indexed in SINTA
194 international articles published by Emerald Publishing.Each article was categorized based on research topic, theoretical framework, research method, industry focus, and geographical context. This approach allowed the authors to identify trends over time and compare Indonesian research patterns with international scholarship.
Rather than focusing on a single dataset or country, the review provides a broad and comparative overview of sustainability reporting research at both national and global levels.
Key findings from the literature review
The analysis highlights several important trends shaping sustainability reporting research today:
Rapid growth in publicationsResearch on sustainability reporting has increased sharply since 2019, with annual publication growth averaging around 25 percent. This reflects the rising importance of ESG issues in business and policy discussions.
Shift in theoretical perspectives
Earlier studies largely relied on legitimacy theory and stakeholder theory, viewing sustainability reporting as a response to external pressure. More recent research increasingly frames sustainability reporting as a strategic tool linked to value creation, risk management, and long-term performance.
Quantitative methods still dominate
Most studies use quantitative analysis based on sustainability reports, annual reports, and financial data. However, qualitative and mixed-method approaches are gaining attention, especially for analyzing narratives, disclosure quality, and symbolic reporting practices.
Sectoral concentration remains narrow
Manufacturing, banking, energy, and mining sectors dominate the literature. Small and medium-sized enterprises (SMEs), agriculture, and technology-based firms remain underrepresented, despite their growing economic and environmental impact.
Quality concerns persist
Many studies report that sustainability disclosures often emphasize form over substance. Boilerplate language, selective disclosure, and impression management remain common challenges, particularly in emerging markets.
What the findings mean in practice
The review suggests that sustainability reporting is at a crossroads. On one hand, regulatory frameworks and global standards have significantly expanded reporting practices. On the other, the credibility and depth of disclosures remain uneven.
According to Masniatul Aulia from Universitas Brawijaya, much of the literature indicates that companies increasingly recognize sustainability reports as strategic communication tools rather than administrative obligations. Firms with stronger, more transparent sustainability disclosures tend to attract investor confidence and strengthen stakeholder relationships.
Dr. Lilik Purwanti, also from Universitas Brawijaya, emphasizes that future progress depends on improving disclosure quality. Academic research consistently shows that meaningful sustainability reporting requires integration with corporate strategy, governance structures, and performance measurement systems, not just compliance with reporting checklists.
For policymakers, the findings underline the need to focus on enforcement, comparability, and assurance mechanisms. For businesses, the message is clear: sustainability reporting that lacks substance may meet minimum requirements but fails to deliver reputational or economic benefits in the long run.
Implications for research and education
The study also points to promising directions for future research. Emerging topics include the use of digital technologies in sustainability reporting, the role of artificial intelligence in disclosure analysis, and the integration of sustainability information into financial decision-making.
For universities and educators, the review highlights the importance of interdisciplinary approaches that combine accounting, management, and social sciences. Sustainability reporting is no longer a niche accounting topic but a multidisciplinary field with real-world consequences.
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