At the end of March, the World Bank Center for Financial and Sustainability Reporting Reform (CFRR) held its 9th Ministerial Conference on Financial and Sustainability Reporting Reforms: Navigating Green and Digital Agendas in Vienna. The conference brought together over 250 officials, auditors, and experts from politics, academia, and industry to advance financial and sustainability reporting reforms in Europe and Central Asia. The focus was on aligning international and EU standards to support better decision-making, transparency, and progress on sustainability and other development goals.

Key discussions centered on the role of high-quality financial and non-financial reporting, simplification of sustainability standards, and the importance of transparency to build trust in institutions. The World Bank reaffirmed its commitment to supporting reforms and capacity building. The panels held at the CFRR conference explored EU legislative changes, challenges in implementation, and the critical role of collaboration across governments, regulators, and professional bodies. State-owned enterprises were recognized as key players in sustainability leadership, requiring strong governance and financial integration to meet climate goals.