XBRL US commented on the European Financial Reporting Advisory Group (EFRAG) consultation on the European Sustainability Reporting Standards (ESRS) Taxonomy. The XBRL US comment letter provided input on technical issues related to taxonomy development. Read: XBRL US Comment on ESRS Taxonomy
The European Financial Reporting Advisory Group (EFRAG) has published a consultation on the European Sustainability Reporting Standards (ESRS) Taxonomy. Comments to the consultation are due April 8, 2024.
The Securities and Exchange Commission (SEC) published the final rule on The Enhancement and Standardization of Climate-Related Disclosures for Investors which requires electronic (XBRL) tagging of certain climate-related disclosures. Requirements include the reporting of narrative climate-related disclosures including material risks, mitigation, oversight, and targets, for all companies. Reporting of scopes 1 and 2 greenhouse gas […more]
XBRL US has developed a paper and supporting fact sheet on the importance of data standards to support sustainability reporting. The paper focuses on California climate bills SB 253 and SB 261 which require companies over a certain revenue threshold that do business in the State of California to report greenhouse gas (GHG) emissions and […more]
To meet the goals of climate initiatives worldwide requires governments to understand the impact of industry on the environment. This can only be accomplished through standardized, digital data that is concretely understood, timely, and consistently prepared to foster a shared understanding of the current state of climate risk and to monitor changes going forward.
Standards Benefit Companies, Data Collectors, Data Users
To successfully collect data under SB 253 and SB 261, California must require data be reported in digital, machine-readable (XBRL) format. There are several good reasons for this approach.
Attend the XBRL International Conference that brings together standards setters, regulators, policy makers, analysts, tech experts, accounting professionals, and other innovators from across the reporting community to share insights into the future of digital reporting. Themes will include sustainability reporting, AI, data quality, audit and more.
XBRL US submitted a comment letter in response to the Commodity Futures Trading Commission (CFTC) Request for Information on Climate-Related Financial Risk. The XBRL US letter explained the importance of data standards in understanding and conducting oversight of climate-related financial risk by the CFTC. Climate-related financial risks that affect market participants and commodities will inevitably […more]
XBRL US submitted a comment letter in response to the Environmental Protection Agency (EPA) request for feedback on Revisions and Confidentiality Determinations for Data Elements Under the Greenhouse Gas Reporting Rule, Docket Id. No. EPA–HQ–OAR–2019–0424. The XBRL US letter made the argument that data collected by the EPA on greenhouse gas emissions made by facilities […more]
In response to the IFRS Request for Feedback on the staff draft of the IFRS Sustainability Disclosure Taxonomy, XBRL US submitted a letter providing input to questions posed by the IFRS regarding technical aspects of the taxonomy such as taxonomy groupings, use of dimensions, granularity of narrative information, modeling metrics, related information, and connections between […more]
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the business reporting standard
