GRI opens public consultation on new XBRL taxonomy
This week the Global Reporting Initiative (GRI) launched a public consultation for its new GRI Sustainability Taxonomy draft, which will be open until 11 August 2024. This initiative aims to gather feedback from XBRL experts and sustainability specialists on the design of the new taxonomy.
The GRI Sustainability Taxonomy is designed to enhance the accessibility and usability of sustainability data reported using the GRI Standards by enabling digital reporting in a standardised, machine-readable format. By leveraging XBRL the GRI aims to create a structured framework that will allow organisations to digitally tag information reported according to GRI Standards. This transition to digital reporting is expected to facilitate easier data access and analysis for multiple stakeholders, thus promoting transparency and reducing compliance costs.
The new GRI Sustainability Taxonomy will enable organisations to file their sustainability reports digitally, ensuring compliance with GRI Standards and facilitating interoperability with other reporting frameworks.
We very much encourage the XBRL experts within our network to take a look at the draft and provide feedback during the consultation period.
Explore the draft GRI Sustainability Taxonomy and provide your feedback here.
