["Corporate Social Responsibility and Environmental Management, EarlyView. ", "\nABSTRACT\nThis study examines the cross‐lagged association between the disclosure of corporate sustainability and Sustainable Development Goals of 300 large nonfinancial firms listed on major stock exchanges across five emerging Asian nations. It uses content analysis to compute disclosure scores and employs a cross‐lagged panel data model to estimate bi‐directional association. Consistent with the stakeholder and signaling theories, findings reveal that the lag of corporate sustainability disclosure positively influences Sustainable Development Goals. However, we fail to extricate the reversed lag impact of Sustainable Development Goals on sustainability disclosure. While our study finds a positive bi‐directional lag impact between environmental disclosure and Sustainable Development Goals, the impacts of social and economic disclosures have a unidirectional association. The findings are useful for policy implications for enhancing the disclosures of corporate sustainability and Sustainable Development Goals. Further, the positive bi‐directional association between environmental disclosure and Sustainable Development Goals is useful for firms and regulators to develop appropriate strategies in a voluntary setting for a green environment and long‐term sustainable development.\n"]