Newsletter for the Reporting Standard of Business and Government

December, 2025

Happy New Year, and welcome back from the holidays!

We're excited about the opportunities ahead.

Ask us about joining existing committees that are influencing the direction of reporting by businesses, utilities, and governments.

This is an important year to get involved.

OIM Taxonomy Model Requirements published for public review; comment period closes February 16, 2026. The new specification outlined in the Requirements document streamlines and modernizes XBRL with features that make it easier to implement data standards programs, produce data that is even more "AI-ready", and make it easier for reporting entities to generate XBRL reports. Data scientists, technologists, regulators, software developers, and data consumers are encouraged to review the requirements and provide their feedback.

XBRL US is hosting a free 60-minute webinar, Public Review for OIM Taxonomy Spec Requirements on January 14, 2026 to describe the spec enhancements and explain how interested parties can submit comments to help inform the final requirements.

White paper, Digitizing data to combat climate change, published by XBRL US. The new white paper addresses the importance of data governance in the fight against climate change. Climate-related data ranging from greenhouse gas emissions to air quality data to cap-and-trade auction results, are collected in the U.S. by the Environmental Protection Agency (EPA) and some state environmental regulatory agencies. While much of the data is publicly accessible, it is provided as a hodgepodge of URLs, file formats and custom-built applications requiring different tools and specialized knowledge to be useful to citizens, investors, researchers, and governments.

Environmental regulators could improve the accessibility and usability of climate datasets by establishing a semantic data model through a taxonomy or ontology agreed upon by state and federal regulators, whereby reported data could be easily catalogued and shared. This paper describes datasets currently available and explains how collecting and storing climate-related information using a semantic data model could benefit regulators, reporting entities, and data users. Read the summary and download the paper.

In other climate-related news, New York State's Department of Environmental Conservation recently adopted final rules creating a Mandatory Greenhouse Gas Reporting Program that will require major emitters that emit at least 10,000 metric tons of CO2e a year to report emissions data starting in June 2027. This is similar to California's Mandatory Greenhouse Gas Reporting Regulation. As pointed out in the white paper referenced above, if both data pools (California and New York) were reported following the same semantic model, all data would be interoperable, shareable, and comparable.

California Air Resources Board (CARB) publishes proposed regulation for corporate climate disclosures; opens public docket for climate report submissions. CARB published a Notice of Public Hearing along with a staff report and the Proposed Regulatory Text. The Public Hearing will take place on February 26, 2026 at CARB offices in Sacramento, CA, to consider the proposed regulations. The published materials have been sent to the California Office of Administrative Law (OAL) for review and approval. It is expected that there will be a 45-day comment period ending on February 9, 2026.

Separately, CARB opened the optional public docket for SB 261, Climate Related Financial Risk Disclosure Program. Entities may voluntarily submit their Climate-Related Financial Risk Report under Senate Bill (SB) 261. CARB noted in an Enforcement Advisory that in light of an injunction that has been ordered by the Ninth Circuit Court Appeals against the enforcement of SB 261, CARB will not enforce the reporting deadline. Argument in the appeal is set for January 9, 2026. The docket is open and accepting voluntary submissions until July 1, 2026.

Draft FERC XBRL Taxonomies Version 2026-04-01 published for public review. The Federal Energy Regulatory Commission (FERC) announced that the taxonomies, validation rules, and rendering files needed to prepare and submit FERC Form Nos. 1, 1-F, 2, 2-A, 3-Q electric, 3-Q natural gas, 6, 60, and 714 will be updated to Version 2026-04-01.2. Version 2026-04-01 will be effective starting with the first quarter 2026. Taxonomies and supporting materials are available for testing and comments can be submitted by March 2, 2026 at https://XBRLview.ferc.gov.

FASB 2026 taxonomies published. The Financial Accounting Standards Board (FASB) announced the availability of the 2026 GAAP Financial Reporting Taxonomy (GRT), the 2026 SEC Reporting Taxonomy (SRT), and the 2026 GAAP Employee Benefit Plan Taxonomy (EBPT). The FASB also announced the availability of the 2026 DQC Rules Taxonomy (DQCRT) and the 2026 GAAP Meta Model Relationships Taxonomy (MMT), which together with the GRT, the SRT, and the EBPT are collectively referred to as the "FASB Taxonomies."

GENIUS Act approval requirements published for public review. The Federal Deposit Insurance Corporation (FDIC) published Approval Requirements for Issuance of Payment Stablecoins by Subsidiaries of FDIC-Supervised Insured Depository Institutions. Comments are solicited on a proposal to set procedures for an insured State nonmember bank or State savings association seeking FDIC approval to issue payment stablecoins through a subsidiary pursuant to the Guiding and Establishing National Innovation for U.S. Stablecoins Act (GENIUS Act). Comments must be received by February 17, 2026.

The proposal outlines the process and data submission for prospective issuers to apply. Data required includes a description of the proposed payment stablecoin, identities and roles of those involved in the stablecoin activities, and financial information.

XBRL US Events

Webinar: Public Review for OIM Taxonomy Spec Requirements
Wednesday, January 14, 2026, 3 PM ET
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. Attend this webinar for a review of the recently published Requirements document, and find out how to submit comments to XBRL International to inform the final requirements. The comment period closes on February 16, 2026. Register to attend this free webinar: https://xbrl.us/events/011726/

Webinar Replay: Data Quality Rules in US GAAP Taxonomy 2026
The Financial Accounting Standards Board (FASB) plans to add 30 new data quality rules to its Data Quality Committee Rules Taxonomy (DCQRT). Hear the FASB's David Shaw, the Chair of the XBRL US Data Quality Committee and Advisor at Toppan Merrill's Shelly Wavrin, plus XBRL US' Campbell Pryde on which rules will be added and how rules are created. Watch the replay: https://xbrl.us/events/251119

XBRL US Meetings

The Data Quality Committee (DQC) met on Wednesday, October 15 and approved version 28 of their Rules for SEC filers, and version 29 is available for public comment through January 22. Learn about the DQC: https://xbrl.us/dqc

The Domain Steering Committee will meet Tuesday, January 20, at 2 PM ET. https://xbrl.us/events/dsc-260120 - all XBRL US Members are invited to attend

The Communications Steering Committee will meet Tuesday, January 20, at 3 PM ET. https://xbrl.us/events/csc-260120 - all XBRL US Members are invited to attend

The Regulatory Modernization Working Group will meet Tuesday, January 13, at 3 PM ET. (membership@xbrl.us for details)

The Standard Government Reporting Working Group meet Tuesday, January 27 at 12:30 ET. (membership@xbrl.us for details)

The Technical Advisory Committee (XTAC) will meet on Wednesday, January 21, at 4 PM ET. (membership@xbrl.us for details)

The Academic Subcommittee will meet Thursday, January 13, at 11 AM ET. (membership@xbrl.us for details)

XBRL US Articles, White Papers, and Blogs

Research paper: Briefing Paper Data Standards Forum - Advancing Semantic Intelligence
Review the AI summary from XBRL US' Data Standards Forum - Advancing Semantic Intelligence which was held on December 5, 2025 in Washington, DC. The briefing summarizes key findings and insights from standard setters, data scientists, regulators and academics on artificial intelligence and the future of data standards and adoption. Read the summary and download the paper.

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.

Blog Post: Artificial intelligence thrives on structure.
Agency-specific rules that are developed to support the Financial Data Transparency Act (FDTA) must ensure that data collected is AI-ready. AI shines when supported by 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.

The Legal Entity Identifier (LEI) and XBRL power improved results for regulatory disclosure programs. Read more and download the fact sheet.

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.