The Sustainability Accounting Standards Board (SASB) announced that the SASB eXtensible Business Reporting Language (XBRL) taxonomy is now open for a 60-day public comment period. SASB is looking for public feedback on the draft taxonomy and the preparer guide to ensure they help data producers and consumers.
XBRL is a well-established tool for financial reporting. Moreover, providers and auditors already possess the technology for collecting and reporting data in the XBRL format. Therefore, using the SASB Standards and the XBRL together could simplify the Environmental, Social, and Governance (ESG) disclosure process for companies and improve the comparability of disclosure to investors. It would also provide benefits across the market ecosystem. Further, integrating the SASB XBRL taxonomy into the common language for business reporting could enhance the quality and the usefulness of SASB disclosures.
The 60-day public comment period will remain open through April 22nd, 2021—and feedback can be submitted here: https://www.sasb.org/structured-reporting-xbrl/.
Click here to read the original article published by Fintech News.
Please give your feedback on this article or share a similar story for publishing by clicking here.
