The European Central Bank (ECB) and the European Banking Authority (EBA) have recently teamed up to establish the Joint Bank Reporting Committee (JBRC). This initiative aims to enhance efficiency and reduce costs in the banking industry’s data reporting processes.
This Wednesday the US Securities and Exchange Commission (SEC) voted (3 to 2) in favour of the long-awaited and domestically controversial Climate Related Disclosures for Investors rule. The new rule introduces enhanced, standardised, Inline XBRL reporting for various aspects of climate risk, designed to improve investor access to information.
The OIM Formula specification was recently published at Candidate Recommendation status, along with a conformance test suite. OIM Formula is the first step in a modernisation programme for XBRL Formula.
In an era in which sustainability is not just a choice but becoming a statutory obligation in much of the world, understanding the landscape is crucial for stakeholders throughout the business data ecosystem.