XBRL US responded to the Environmental Protection Agency Request for Comment on their Strategic Plan 2022-2026.
Recommendations made by XBRL US centered on the third of the EPA key principles, “follow the science, follow the law, and be transparent“. The EPA collects a vast amount of data in its work to support seven strategic goals. As explained in the XBRL US letter, access to clean, consistent, timely, detailed data is critical to meeting these goals, in order to pinpoint problem areas, devise solutions, and track the progress of programs. We urged the EPA to modernize their process by adopting data standards and noted the following reasons for why now is the appropriate time:
- the Federal Energy Regulatory Commission (FERC) has adopted XBRL for financial and energy data reporting
- Climate-related data is likely to be required to be reported to the Securities and Exchange Commission (SEC) in structured (XBRL) format
- data reported to the EPA would be effectively supported by the XBRL standard
Read the letter: XBRL US Comment – EPA Strategic Plan 2022-2026