Here are the three most relevant developments in the world of structured reporting we became aware of in the course of last week.
In the context of the letter received from Commissioner McGuinness in May 2021, EFRAG is happy to report on three key achievements to be completed by the end of April 2022:
- The organisation of its Sustainability reporting pillar;
- The finalisation of a first set of exposure drafts; and
- The launch of the public consultation on the exposure drafts.
Similarly, this is the result of EFRAG’s parallel sprint towards the regionalised European goal with double materiality and broader scope.
The XBRL Standards Board has this week approved an update to the XBRL Data Type Registry (DTR). Most notably, this adds a new item type for use in reporting greenhouse gas emissions. The Data Type Registry works in conjunction with the Unit Type Registry (UTR), also recently updated, to make sure that the units used to report values are appropriate to the information.
Not quite as momentous as the previous two items, this update provides an important delivery vector for digital climate disclosures using XBRL, which will be the unifying global standard.
Christian Dreyer CFA is well known in Swiss Fintech circles as an expert in XBRL and financial reporting for investors.
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