Newsletter for the Reporting Standard of Business and Government

August, 2025

XBRL US commented on topics raised in the California Air Resources Board (CARB) virtual public workshop. The workshop, held August 21, 2025 provided a progress update on regulations underway for SBs 253 and 261. Our letter addressed CARB's intent to post draft reporting templates for businesses to satisfy Scope 1 and 2 reporting by the end of September. We agreed with the approach for entities not required to report GHG emissions to other regulators but urged CARB to allow companies that are already reporting sustainability data to other regulators to be able to submit the same document to satisfy California requirements to eliminate duplicate reporting. We also urged them to prepare templates they create such that they can generate structured, machine-readable data that aligns with standards used by global entities reporting to CSRD or an IFRS reporting country.

We also commented on CARB cost estimates for the initial implementation of $20.7 million, and $13.9 million for each year going forward. The ongoing cost will be paid through fees collected from covered entities. We suggested that a standardized data approach may be able to reduce these costs, particularly in the years after implementation because of the economies of scale enabled through standardization, thus benefiting not only CARB but the covered entities as well.

XBRL US hosting Digital Climate Reporting Roundtable at Climate Week NYC featuring keynote New York State Assemblymember Deborah J. Glick. The 3 hour roundtable will start with remarks from Assemblymember Glick on potential state climate reporting legislation that aims to gauge the impact of GHG emissions from businesses on the State of New York. The roundtable discussion that follows will feature a dialogue with representatives from the AICPA, BNY, Data Foundation, IFRS Foundation, KPMG, and XBRL US on digital climate reporting worldwide, how to manage uncertainties and how the market can best support businesses in producing high-quality usable data. Attendees are encouraged to participate in the conversation and provide their input. Learn more.

The Securities and Exchange Commission (SEC) released their Spring 2025 Unified Agenda of Regulatory and Deregulatory Actions. Many of these proposed changes may impact structured data requirements, for example, Shareholder Proposal Modernization, the definition of foreign private issuer and rules to rationalize disclosure practices. The Financial Data Transparency Act is also included on the list with final action noted as December 2025.

XBRL US Articles, White Papers, and Blogs

Blog Post: Does structured energy data work better with AI?

Marc Ward, XBRL US Applications Manager, tested how a LLM worked with energy-related data for utilities. Key findings comparing structured (XBRL) versus unstructured data were that results were more reliable, complete, authoritative, and accurate when sourcing structured data.

Blog Post: Supercharge AI with XBRL

On its own, AI is a powerful analytical tool. XBRL can supercharge its responses. We leveraged our XBRL US Public Filings Database in XBRL format. Using XBRL as the source for AI led to more granular detail and insights into segment data by both line of business and geography compared to performing the same task with unstructured data. Furthermore, the results were entirely based on the most reliable source - the company's own financials. Data sourced from third-party websites like Yahoo! Finance or The Motley Fool may be normalized for easy comparison, and can vary from data reported directly by the company.

XBRL US Events

Webinar Replay: SBR: Fundamentals & Nordic Case Study

Standard Business Reporting (SBR) has helped regulatory agencies and businesses around the world gain efficiencies by streamlining data exchange through standardization. Governments in the Nordic region initiated a program to test out SBR across five countries with a goal to make real time business data accessible and usable. Attend this 60-minute session to learn the fundamentals of SBR and why it's been successful, and to learn how SBR principles have been applied in the Nordic program, Nordic Smart Government & Business. Featuring John Turner, CEO of XBRL International and Minna Rintala, Head of Unit, Real Time Economy project in Finland. Register: https://xbrl.us/events/250819/

COMING SOON - SBR: Dutch Banking Case Study, October 2025

The SBR program in the Netherlands has expanded to the banking community where three major Dutch banks, ING, ABN Amro, and Rabobank, initiated a program called SBR Nexus to collect digital reports on their customers' operations. They were able to leverage the SBR infrastructure established by the Dutch government to improve efficiencies in information exchange between business and government agencies. Attend this program to hear René van der Meij, CTO of SBR Nexus explain how the program was developed and how it has helped banks fine-tune their credit models, improve capital allocation and risk management.

XBRL US Meetings

The Data Quality Committee (DQC) has posted its 28th version of Rules and Guidance for public comment. There are 11 rules available through September 16: https://xbrl.us/public-review

The Domain Steering Committee will meet Tuesday, September 16, at 2 PM ET. https://xbrl.us/events/dsc-250916 - all XBRL US Members are invited to attend

The Communications Steering Committee will meet Tuesday, September 16, at 3 PM ET. https://xbrl.us/events/csc-250916 - all XBRL US Members are invited to attend

The Regulatory Modernization Working Group will meet Tuesday, September 9, at 3 PM ET. (membership@xbrl.us for details)

The Standard Government Reporting Working Group will meet Tuesday, September 30, at 12:30 PM ET. (membership@xbrl.us for details)

The Technical Advisory Committee (XTAC) will meet on Wednesday, September 17, at 4 PM ET. (membership@xbrl.us for details)

The Academic Subcommittee will meet Tuesday, September 16, at 1 PM ET. (membership@xbrl.us for details)

XBRL US Members are committed to engaging and collaborating with other members, contributing to the standard through involvement of their teams, and striving to build awareness and educate the market. Members of XBRL US represent the full range of the business reporting supply chain.

Not yet an XBRL US member? Maybe it's time to consider joining XBRL US for yourself ($55 - $500/ year) or your organization (fees vary). Find out more about the benefits of membership and how to become involved by visiting https://xbrl.us/benefits.