This paper aims to analyze the theoretical foundations of sustainability reporting, including its historical evolution and integration with corporate social responsibility (CSR). It seeks to evaluate key global reporting frameworks (e.g., GRI, SASB, TCFD) and assess their adoption trends across industries and regions and examine the regulatory landscape, contrasting voluntary ESG disclosures with mandatory compliance requirements. Further, this paper wants to assess the impact of technology, such as automation, blockchain, and AI, in enhancing reporting accuracy and transparency. Lastly, it tries to identify key challenges in sustainability reporting, including greenwashing, data inconsistencies, and compliance costs. Some case studies illustrating best practices, corporate ESG successes, and reporting failures are discussed. Finally, it proposes recommendations for standardising and improving sustainability reporting globally.