Here is our pick of the 3 most important XBRL news stories from the last week.
With so much recent discussion of standards for Environmental, Social and Governance (ESG) disclosure, particularly sustainability metrics, it is interesting to revisit the example of one country that is forging ahead with mandatory reporting. The UK’s Streamlined Energy and Carbon Reporting (SECR) legislation requires all large UK companies and LLPs, as well as all quoted companies, to report on their annual energy use, greenhouse gas emissions, and energy efficiency measures; other companies may also report on a voluntary basis.
This is of particular interest since SECR reporting is now optionally feasible in XBRL, using an SECR taxonomy capturing the types of non-financial information provided under that particular UK regulation. The news about new units definition issued by XBRL International fits very well into that development.
China’s economy and society have entered a new stage of development, and various reforms are steadily advancing. The bond market is an important part of the financial system and plays an important role in serving the real economy and supporting national strategies. At present, the bond market is promoting the reform of the registration system with information disclosure as the core. The Measures for the Administration of Information Disclosure of Corporate Credit Bonds have also been issued, and the construction of the information disclosure system is timely.
Following the link above, you’ll find an article in Mandarin, but I trust my readers’ technical skills to find the button for the online translation, revealing another area where the Chinese financial market is forging ahead rapidly.
Global “Disclosure Management Market” 2021 Research report produces information with reference to market size, share, trends, growth, cost structure, capacity, revenue, and forecast 2026. This report also contains the general and comprehensive study of the Disclosure Management market with all its aspects influencing the growth of the market. This report is a full-scale quantitative survey of the Disclosure Management industry and provides data for building strategies to expand the market growth and effectiveness.
While the full report that is advertised in the above piece will certainly provide a feast of quantitative data on market shares, projections and the like, its advertisement already supplies some interesting insights about the disclosure management market, such as the inexorable shift towards the cloud.
Christian Dreyer CFA is well known in Swiss Fintech circles as an expert in XBRL and financial reporting for investors.
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