In another step forward for sustainability reporting at COP27, the Climate Data Steering Committee (CDSC) announced their final recommendations for the Net-Zero Data Public Utility (NZDPU or Utility). The accompanying white paper lays out the key challenges ahead and highlights the foundational data that will be required for a successful launch.
Four years since the process to replace the Non-Financial Reporting Directive (NFRD) began, last week the Council of the European Union and the European Parliament voted by a landslide (525 votes in favour) to adopt the Corporate Sustainability Reporting Directive (CSRD) into EU law.
Emmanuel Faber, Chair of the International Sustainability Standards Board (ISSB), took to the COP27 stage last week to unveil the ISSB Partnership Framework, designed to boost the ability of smaller entities and emerging economy stakeholders to use the International Financial Reporting Standards (IFRS) Sustainability Disclosure Standards.
The US Financial Accounting Standards Board (FASB) has issued a call for comment on a proposed Taxonomy Implementation Guide based on the proposed 2023 GAAP Financial Reporting Taxonomy (pending SEC acceptance).
“Why is there such hesitation regarding standardisation, and why are people afraid that it will put a dampener on innovation?” asks Björn Fastabend. He argues that standardisation, such as in the introduction of XBRL for digital reporting, can in fact nurture and facilitate innovation.
The Autorité des marchés financiers (AMF), France’s stock market regulator, has made what it calls “a very positive assessment at the end of the first year” of European Single Electronic Format (ESEF) implementation.
Madhabi Puri Buch, Chairperson of the Securities and Exchange Board of India, offers engaging insights on ‘data and technology in the capital markets’ in a Foundation Day lecture at the Indian Institute of Management Bangalore.
Measures to reform the UK business registrar Companies House have been introduced to Parliament in part two of the Economic Crime Bill. They are intended to improve the company information available and help prevent economic crime.
The US Securities and Exchange Commission (SEC) has adopted a final rule on tailored shareholder reports for those mutual funds and exchange-traded funds classed as ‘open-end funds.’
We found food for thought in a recent article from Irene Liu and team of Accenture, exploring the use of Natural Language Processing (NLP) for regulatory compliance.
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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.
