About
XBRL (eXtensible Business Reporting Language) is an international standard for digital business reporting.
The XBRL standard provides the basic specifications defining how to add computer-readable tags to human-readable business data. By publishing reports with XBRL tags, companies can have confidence that their reported data can be accessible and analysed accurately by both machines and humans.
Why digital sustainability disclosures?
The world is moving towards mandatory sustainability reporting. This is a significant change for companies and will provide new information for investors, regulators, policymakers and wider community stakeholders. Digital reporting in countries around the world can use different sustainability standards. Each standard can have differing definitions for reporting requirements.
What is XBRL?
XBRL is a standard that provides the basic specifications defining how to add computer-readable tags to human-readable business data. By publishing reports with XBRL tags, companies can have confidence that their reported data can be accessible and analysed accurately by both machines and humans.
How does the XBRL standard support digital sustainability reporting?
XBRL flexibility enables using the standard for digital sustainability reporting. Anticipating future planning and implementing challenges, we prepared a list of articles that should help to adapt XBRL for specific use cases.
iXBRL (Inline eXtensible Business Reporting Language) enables reporting human-readable facts against machine-readable taxonomy concepts. When a market decides to report sustainability information with XBRL, there are two layers of information that must be prepared:
- Standard setters, regulators, and taxonomy authors cooperate to create standards and XBRL taxonomies that consist of taxonomy concepts. Taxonomy concepts define which sustainability information needs to be reported.
- Data preparers read the taxonomy provided to them and create reports that consist of report facts. Report facts define against which taxonomy concepts they were created.
What is the value of using XBRL for digital sustainability disclosures?
Reporting sustainability disclosures with XBRL enables building on the XBRL experience to provide richer sustainability information.
If companies prepare their reports using the XBRL taxonomies, the XBRL standard allows data consumers to compare the same disclosures between different reports. It is possible, for example, to use BI software to analyse the data and have a broader overview of a particular data sector.
What is XBRL International?
XBRL International is a global not-for-profit consortium operating in the public interest. Our purpose is to improve the accountability and transparency of business performance globally, by providing the open data exchange standard for business reporting.
XBRL International is the international standards organization which develops and maintains the XBRL standard to improve business reporting for the public good. It is a global not-for-profit consortium of public and private organisations working together to support the collection, sharing and use of structured data for data reporting and analysis.