The chapter analyses disclosure obligations of environmental and social sustainability risks that apply to companies in light of the growing importance to disclose sustainability risks. In doing so, it discusses the potential cross-border strategies for countries to develop international standards to support global convergence. It considers the international developments justifying the rationale for sustainability-related disclosures along with a discussion of the three models of cross-border disclosure regulation: (i) the home state approach, (ii) the host state approach and (iii) the equivalence approach. The chapter argues that the EU Corporate Sustainability Reporting Directive (CSRD) (2022) has adopted a mix-and-match model between the host state approach and the equivalence approach. Our analysis emphasises the extraterritoriality of EU sustainability disclosure regulation and compares it with the models followed by the United Kingdom, the United States and Switzerland. The different sustainability disclosure requirements between EU countries and non-EU countries suggests, therefore, that cross-border regulatory coordination is important. The paper recommends a model of ESG disclosure for capital markets that is based on the EU policy of equivalence modified by a recognition of the compliance approaches of certain foreign jurisdictions.