Enable data exchange

In XBRL, users can easily convert units when comparing sustainability reports that use different standards. Comparison of data from different sustainability reports may require the conversion of data from one unit of measurement to another. The units of measurement used when reporting sustainability data can differ between reports due to the different sustainability standards used. For example, the unit of energy used in one report may be Gigajoules while another report uses Megawatt-hours.

A concordance is a means for mapping sustainability data from one taxonomy against similar data in another taxonomy. Sometimes a data preparer or data consumer needs to compare data reported against different standards or different versions of the same standard, for example: Existing sustainability data prepared against one standard needs to be reported using a new standard. Sustainability data must be reported against several standards using different taxonomies. Sustainability data needs to be compared against reports that use previous versions of the same taxonomy.

In XBRL, users can share lists of commonly used values and notations between taxonomies. There are many sustainability standards and in each standard, there are sections that take the form of lists. These lists often present similar common information across different standards. Examples of lists common in sustainability reports: Greenhouse gases Sources of energy Country codes Standard setters can collaborate on certain areas of their standards, define common lists, and share those lists so they can be reused between taxonomies.

Common concepts are taxonomy concepts that are shared so that multiple taxonomies can reuse it. It is common for different taxonomies to collect the same information, for example, the name of the reporting entity, a list of greenhouse gases, or countries in the world. Usually, those taxonomy concepts are private, with their own labels and references, to each taxonomy. Standard setters can choose to maintain their own concepts or to use common concepts.