Purpose – The purpose of this paper is to compare environmental, social and governance (ESG) disclosures
regulatory frameworks in developed and developing countries, identifying similarities, differences and trends
to contribute to effective and sustainable practices globally.
Design/methodology/approach – Descriptive research design compares ESG frameworks in developed and
developing countries. It reviews literature, collects data, analyzes differences and categorizes countries based on
ESG development stages. Implications, recommendations and an analytical ESG table are explored and validated.
Findings – The study’s findings have significant implications for practice, society and research. The
categorization of 28 countries into four ESG framework development stages facilitates strategic
implementation and improved decision-making aligned with sustainability reporting.
Research limitations/implications – The study’s findings will support regulators, policymakers and
institutional investors in bridging the sustainability gap. By categorizing countries based on their ESG
framework development stages, the study aims to provide benchmark practices for countries in the early
stages of ESG disclosure. This will address information asymmetry issues and facilitate the establishment of
resilient business operations and reporting practices. Ultimately, the study promotes long-term social and
economic well-being by strengthening emerging sustainable practices.
Originality/value – To the best of the authors’ knowledge, this study represents a novel contribution to the
existing literature by analyzing the varying levels of development in the ESG policy framework across countries.
It fills a gap in current research by providing a comprehensive assessment of the ESG landscape and highlighting
the disparities and advancements in different countries. This study aims to shed light on the state of ESG policies
and practices globally, providing valuable insights for future research and policy development in the field