The ELF/DWARF object-file format originally comes from the UNIX world. This format is very flexible and is able to support extensions.
Many chip vendors define this object-file format as the standard for tool vendors supporting their devices. This standard allows inter-tool operability making it possible to use the compiler from one tool vendor, and the linker from another. The developer has the choice to select the best tool in the tool chain. In addition, other third parties (for example, emulator vendors) only have to support this object file to support a wide range of tool vendors.