Fostering transparency, driving value creation and advancing SDGs: a review of integrated reporting

This review synthesises insights from 48 high-impact journal articles to highlight the transformative role of Integrated Reporting <IR> in fostering transparency, driving value creation, and advancing the Sustainable Development Goals (SDGs). Previous reviews on <IR> have primarily focused on its adoption and disclosures without adequately linking the practices to broader themes like transparency and value creation. There is also a notable gap in reviewing <IR>'s role in advancing the SDGs. Hence, this paper bridges the gap by exploring <IR>'s broader contributions to transparency, value creation, and SDG alignment. This review seeks to identify recent trends in regional adoption and implementation of <IR>, evaluate its contribution to corporate transparency, sustainable value creation, and advancement of SDGs, and outline directions for future research. Key findings reveal that <IR> enhances sustainability performance by addressing environmental, social, and governance issues through financial and nonfinancial disclosures. Additionally, the findings indicate that the quality of <IR> disclosure has a considerable impact on shaping firm valuation, influencing market perception, and building investor confidence. Additionally, <IR> is observed to reduce agency costs, improve transparency and enhance organisational decision-making by fostering integrated thinking. The results highlight the need to support <IR> as a strategic framework for building ESG for policymakers. For practitioners, the review highlights how <IR> improves organisational decision-making, minimises agency costs, and aligns business objectives with stakeholder expectations, ultimately enhancing firm valuation and value creation. Researchers can further the study to investigate the relationship between <IR> quality and company performance, undertake sector-specific studies, and examine <IR>'s evolving role in sustainability strategies.