XBRL News about sustainability

Here are the most relevant developments in the world of structured reporting we became aware of in the course of last week.

1  Call for tenders – developing the XBRL taxonomy for the first set of ESRS

2  Webinars on ISSB taxonomy now available

Earlier this month, the International Sustainability Standards Board (ISSB) ran two live webinars on the IFRS Sustainability Disclosure Taxonomy and its current request for feedback. It is seeking input that will help set the direction for future work on this XBRL taxonomy, which will enable global digital reporting of sustainability information according to the IFRS Sustainability Disclosure Standards currently under development. 

The ISSB is already well ahead in the XBRL taxonomy building business, it seems. 

3  Digital ESG data means richer insights

“The world is grappling with dramatic shifts in climate change, environmental, social, and geopolitical events. In a world of rapid digital transformation, how do companies, investors, regulators, standard setters, and ordinary citizens respond to these shifts?” asks Christine Tan in a recent guest post at ESG Today.

Financial decision making has relatively low dimensionality compared to ESG conscious decision making with its 17 Sustainable Development Goals (SDGs) and its 169 sub-goals. It should come as no surprise to anyone that a lot more comparably well structured, granular data is required to achieve those goals. 

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Christian Dreyer CFA is well known in Swiss Fintech circles as an expert in XBRL and financial reporting for investors.

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