Insights into digital climate data reporting in California

Posted on March 10, 2024 by Editor

XBRL US recently released a new publication, “Digital First for California Climate Data,” highlighting the importance of digital data standards in climate reporting –  and advocating for the adoption of XBRL for greenhouse gas (GHG) emissions reporting in California.

The paper emphasises the critical role of structured, machine-readable data in understanding the impact of industry on the environment and meeting the goals of climate initiatives worldwide. It underscores the need for timely, consistent data to foster a shared understanding of climate risk and make monitoring easier.

Regulators increasingly recognise the value of structured, machine-readable digital data for reporting, collecting, and analysing climate-related information.

The publication advocates for the adoption of XBRL for reporting GHG emissions in support of California SB 253 and SB 261, aligning with similar mandates in jurisdictions across the US and worldwide. Standardising data definitions and structure reduces reporting burdens on companies, minimising duplication, errors, and costs associated with complex, multiple reporting mandates.

XBRL can help regulators streamline reporting processes, enhance data quality, and support effective evaluation of climate risk – not to mention, it will also streamline the process for reporting companies who need to meet multiple global digital reporting requirements.

To learn more, download the white paper here.

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