January, 2026
New York and New Jersey reintroduced Climate Corporate Data Accountability Legislation. State legislatures reintroduced bills that had been initially introduced in 2025. Both legislation call for the reporting of greenhouse gas emissions by organizations doing business in that state with annual revenues in excess of $1 billion. New Jersey legislation, the Climate Corporate Data Accountability Act (S679) would require the annual disclosure of scope 1, 2, and 3 emissions for the prior fiscal year starting three years after the effective date of the Act. The New York bill, the Climate Corporate Data Accountability Act (S9072), requires reporting of scope 1 and 2 emissions for the prior year to begin in 2027, and scope 3 reporting to begin in 2028. Legislation in both states calls for assurance on scope 1 and 2 reporting. Assurance on scope 3 will be evaluated by each state environmental regulatory agency for possible adoption at a later date.
California Air Resources Board (CARB) requests feedback on proposed amendments to the Mandatory Reporting of Greenhouse Gas Emissions (MRR) program. MRR, which was started in 2009, requires electricity generators, industrial facilities, fuel suppliers, and electricity importers that emit more than 10,000 metric tons of CO2e to submit annual reports. Emissions data can be downloaded from the CARB website in Excel spreadsheets.
In December, the New York State Department of Environmental Conservation announced a similar program with data for 2026 due by June 1, 2027. The XBRL US white paper, Digitizing data to combat climate change describes how climate-related data, from ghg emissions to air quality data, could be more effectively managed and used by following a single semantic data model. Comments to CARB’s Proposed MRR amendment are due by March 9, 2026.
SEC Chair Paul Atkins issued a Statement on Reforming Regulation S-K with a request for comments. Comments must be submitted by April 13, 2026. In his statement, Chair Atkins noted, "Today, the disclosure that companies provide in response to the myriad requirements of Regulation S-K does not always reflect information that a reasonable investor would consider important in making an investment or voting decision…
The Commission's disclosure regime should enable a reasonable investor to separate the wheat from the chaff when reviewing periodic reports and proxy statements. With this goal in mind, I have instructed the Division of Corporation Finance to engage in a comprehensive review of Regulation S-K. I welcome and encourage members of the public to provide their views on how the Commission can amend Regulation S-K, with the goal of revising the requirements to focus on eliciting disclosure of material information and avoid compelling the disclosure of immaterial information." Read the full statement.
Feedback was requested by the SEC in regards to the draft Self-Regulatory Organization (SRO) Taxonomy. The SEC announced the availability of the draft 2026Q2 taxonomy and guidance materials and asked for comments during a public review period set to close on March 9, 2026. This taxonomy supports the electronic submission of certain forms called for in the rule Electronic Submission of Certain Materials Under the Securities Exchange Act of 1934; Amendments Regarding the FOCUS Report.
Subsequently, the Commission announced that the draft version of the 2026Q3 SRO taxonomy has been posted, and the files are available at Current Draft Taxonomy and Schema Files. As part of the adopted rule, the Commission is requiring clearing agencies to file Form CA-1 applications and amendments partially in Inline eXtensible Business Reporting Language (XBRL) through the EDGAR System. The new elements needed for clearing agencies to tag Form CA-1 are in the draft 2026Q3 version of the Self-Regulatory Organization (SRO) taxonomy. Technical feedback on the 2026Q3 release is requested by submission to StructuredData@sec.gov by 4 PM EST, March 31, 2026.
XBRL US joined CRAFT to Advance Research on Structured, Standardized Data in FinTech. The Center for Research toward Advancing Financial Technologies (CRAFT) at Stevens Institute of Technology is a fintech-focused Industry-University Cooperative Research Center funded by the National Science Foundation. XBRL US and CRAFT intend to work together on enhancing structured, standardized XBRL data to optimize the performance of large language models and for use in other decentralized finance (DeFi) applications. The partnership will launch its first projects aimed at developing tools for the auditing community during a one-day conference in May at Stevens Institute campus in Hoboken, New Jersey.
XBRL US Events
Webinar Replay: Public Review for OIM Taxonomy Spec Requirements
The OIM Taxonomy Specification streamlines and modernizes the XBRL specification to make it easier to implement data standards programs, produce data that is even more "AI-ready", and enhance the ability to generate XBRL reports. This webinar featured a review of the recently published Requirements document, with details on how to submit comments to XBRL International to inform the final requirements. The comment period closes on February 16, 2026. Watch the replay: https://xbrl.us/events/011726/
XBRL US Meetings
The Data Quality Committee (DQC) public review period for version 29 concluded on January 22. Learn about the DQC: https://xbrl.us/dqc
The Domain Steering Committee will meet Tuesday, February 17 at 2 PM ET. https://xbrl.us/events/dsc-260217 - all XBRL US Members are invited to attend
The Communications Steering Committee will meet Tuesday, February 17 at 3 PM ET. https://xbrl.us/events/csc-260217 - all XBRL US Members are invited to attend
The Regulatory Modernization Working Group will meet Tuesday, February 10 at 3 PM ET. (membership@xbrl.us for details)
The Standard Government Reporting Working Group meet Tuesday, February 24 at 12:30 ET. (membership@xbrl.us for details)
The Technical Advisory Committee (XTAC) will meet on Wednesday, February 18 at 4 PM ET. (membership@xbrl.us for details)
The Academic Subcommittee will meet Tuesday, February 10 at 11 AM ET. (membership@xbrl.us for details)
XBRL US Articles, White Papers, and Blogs
Blog: Modernizing XBRL.
The XBRL community has begun laying the groundwork for an enhanced XBRL technical specification that makes XBRL easier to learn, better aligned with today's development community, and even stronger for AI. Read this post by Scott Theis on why modernization and simplification is happening now and how you can have a say. Read the post.
Scott Theis is President/CEO, Novaworks; Chair, XBRL US Domain Steering Committee (DSC); Leader, XBRL Technical Advisory Committee for XBRL US (XTAC); Member, XBRL Standards Board and OIM Working Group.
Blog Post: Artificial intelligence thrives on structure.
AI shines when given access to richly contextualized, standardized, structured data and identifiers. While Large Language Models (LLMs) can source any kind of data, structured or unstructured, for financial analysis and research that demands a high degree of accuracy, structure and standardization are crucial. Read the post.
Research paper: Digitizing data to combat climate change
Addressing climate change requires good data governance - the cost-effective management of climate data assets through a structured system of policies, roles, processes and controls to ensure availability, usability, and integrity. This paper describes some of the datasets currently available from the EPA and certain state environmental regulators, and explains how collecting and storing the data using a semantic data model could benefit regulators, reporting entities, and data users, and most importantly, help to better understand and address the challenges of climate change. Read the summary and download the paper.
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 - $550/ 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.
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