XBRL US has written to the Environmental Protection Agency (EPA) in response to a request for feedback on reporting of greenhouse gas emissions.
“The target for many of you is to achieve superior risk adjusted returns. For this you need reliable data and decision-making tools that allow you to incorporate emerging risks and opportunities into your portfolio allocation and risk management early on,” says Klaas Knot, Chair of the Financial Stability Board (FSB), in recent remarks to institutional investors.
In a recent post, XBRL Switzerland offers an initial review of the 300 responses to the Swiss government’s consultation on mandatory climate disclosures.
The European Central Bank (ECB) has reported the results of its 2022 climate risk stress test. It finds that while EU banks succeeded in reporting comprehensive and innovative information, making it a valuable exercise, most banks do not have robust climate risk stress-testing frameworks and lack relevant data.
As our regular readers will be acutely aware, this year has seen public consultations on three major sustainability reporting frameworks – all based on one important foundation.
We welcome the SEC’s proposal on climate-related disclosures, mandating Inline XBRL to create decision-useful data. Comparability with other emerging global standards is essential, to which end we offer a tentative proposal to ensure compatibility at the digital level.
The Swiss government is now consulting on a proposal to introduce mandatory climate disclosures. A comment letter from XBRL Switzerland seeks to clarify certain aspects of this Ordinance on Climate Reporting and to encourage a truly digital approach.
One of the more controversial aspects of the Securities and Exchange Commission (SEC) proposal on mandatory climate-related disclosures is the inclusion of ‘Scope 3’ emissions.
We were interested to read some recent perspectives from Ashley Alder, Chair of the International Organisation of Securities Commissions (IOSCO).
Klaas Knot, Chair of the Financial Stability Board (FSB) and President of De Nederlandsche Bank, recently spoke on the role of the financial system in “a smooth and graceful transition” to net zero.
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XBRL International is a global not for profit operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
