2021 has in many ways been the “year of ESG” – of environmental, social and governance issues – and has seen several crucially important developments, particularly in terms of sustainability reporting standards and requirements.
The XBRL Standards Board has approved updates to both the Data Type Registry and the Unit Type Registry. This update contains new draft data types and units that provide support for reporting greenhouse gas emissions.
The European Commission has announced, in a letter to the European Parliament and the Council of the EU, that implementation of the second stage of the Sustainable Finance Disclosure Regulation (SFDR) will be pushed back to 1 January 2023.
The International Federation of Accountants (IFAC) has published its vision for high-quality assurance of sustainability information.
With sustainability and particularly climate disclosures increasingly entering the mainstream of corporate reporting – if not yet fully realised in terms of implementation – biodiversity reporting standards may be the next area to watch.
The International Organization of Securities Commissions (IOSCO) has published a comprehensive report with observations and recommendations relating to environmental, social and governance (ESG) ratings and data product providers.
If you are interested in learning more about sustainability rules in the Asia-Pacific (APAC) region you will find a wealth of useful detail in a recent post from Intercontinental Exchange, titled ‘How Asia-Pacific regulators approach the ‘E’ of ESG.’
Those interested in the development of European sustainability reporting standards may like to get their teeth into a detailed five-month status report outlining activities and progress to-date, recently published by the European Financial Reporting Advisory Group (EFRAG).
We were very interested this week to read remarks on environmental, social and governance (ESG) reporting from Verena Ross, in her first public speech since taking office as Chair of the European Securities and Markets Authority (ESMA).
The Basel Committee on Banking Supervision has issued a public consultation on principles for the effective management and supervision of climate-related financial risks.
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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.
