With the idea that knowledge is transformative sitting at the heart of most educational institutions, it is perhaps unsurprising that a college is currently at the vanguard of structured municipal reporting in the US.
In order for financial firms to properly take climate change risks and opportunities into account they need comparable, standardised data. Measuring carbon emissions would be a simple, effective and material place to start monitoring the climate impact of the businesses financial firms invest in.
Long-time readers of this newsletter will know that one of the major issues holding sustainability reporting back has been the excessive proliferation of confusing and sometimes overlapping disclosure frameworks.
This year has seen huge changes – from regulatory extensions and shifting deadlines to a wholesale shift in the way we work, Covid-19 has caused serious disruption. But what will regulation look like as the dust settles?
Climate change poses complex risks for financial systems that regulators don’t yet fully understand. In order to properly assess how physical risks and transition risks will interact with each other and other economic vulnerabilities, we need good quality, standardised non-financial data.
Having established a task force, the European Financial Reporting Advisory Group (EFRAG) is poised to proceed with the development of non-financial reporting standards, which, if implemented, would increase comparability, relevance and reliability of non-financial information.
Rachel Carpenter, CEO of Intrinio, recently highlighted the many benefits proper XBRL filing implementation would offer US municipalities.
Smaller companies in Singapore are looking at a 90% reduction in time spent filing returns thanks to a new software partnership that aims to automate filing for companies with simple financials.
Should the federal funds being used to boost US state and local budgets after a steep Covid-19-induced decline be dependent on better transparency?
While the data gleaned from regular, structured reporting is widely known to be a critical part of effective regulation, those requirements regularly come across one stumbling block: complaints about cost.
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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.
