In case you missed it, the European Financial Reporting Advisory Group (EFRAG) has released a proof-of-concept XBRL Taxonomy in support of the European Sustainability Reporting Standards (ESRSs).
India is once again in the vanguard of digital reporting, as its principal stock exchanges enable XBRL filing of the new Business Responsibility and Sustainability Report (BRSR) via online portals.
Another really interesting session at the 30th XBRL Europe conference was the plenary session on environment, social, and governance (ESG) matters, with presentations now available to peruse online. It focused particularly on the crucial theme of how digital thinking is being built into emerging ESG standards.
The International Federation of Accountants (IFAC) has published a piece from Professor Mervyn King on ‘Stepping-stones for connectivity in financial and non-financial corporate reporting.’
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.
The European Securities and Markets Authority (ESMA) has written to the European Commission (EC) with the results of its Call for Evidence on the market structure of environmental, social and governance (ESG) ratings providers in the EU.
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.
Workiva’s 2022 Global ESG Survey offers some interesting insights on the challenges and opportunities ahead for environmental, social and governance (ESG) reporting.
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