Provide extra metadata in concepts
Metadata associated with taxonomy concepts enables filtering of the taxonomy concepts.
Taxonomies for sustainability standards tend to be large and it can be difficult to browse through all the taxonomy concepts searching for the required concept. Taxonomy concepts can be associated with additional metadata. Metadata allows data preparers and consumers to filter through taxonomy concepts to find the concepts they need to report their data. The extra metadata needs to be captured in the taxonomy to provide a comprehensive definition of disclosures and facilitate analysis.
XBRL standard and metadata in concepts
The XBRL standard enables the addition of references to taxonomy concepts. This mechanism can be used to capture the extra metadata easily. Thanks to the mechanism being open, standard setters can capture any extra metadata that is needed. Using references allows the metadata to be human-readable. The metadata is validated along with the concepts.
Example
A standard setter creates a taxonomy.
Example taxonomy (example5.xsd)
The standard setter needs to add metadata to the taxonomy for the Environmental, Social and Governance (ESG) concepts within that taxonomy and decides that it will be beneficial to use two metadata groups:
- ESG Topic
Identified as Environmental, Social or Governance. - Disclosure Pillar
Identified as Strategy, Implementation, or Performance measurement.
Each metadata group contains a list of values:
| Concept | ESG Topic | Disclosure Pillar |
|---|---|---|
| e1:RenewableEnergyCost | Environmental | Performance measurement |
| e1:InformationOnCarbonOffsetting | Environmental | Strategy |
| e1:CarbonOffset | Social | Performance measurement |
| e1:CarbonOffsetCost | Social | Performance measurement |
| e1:GeenhouseGasEmissionsScope2 | Environmental | Implementation |
| e1:PercentageIndependentBoardMembers | Governance | Implementation |
The standard setter adds the metadata values to the concepts as references, allowing data consumers and data preparers to filter the taxonomy.
More detail
Providing extra metadata
Metadata is applied to taxonomies by standard setters and technical implementers and should be used by them to improve the flexibility of the taxonomy. When applying metadata to taxonomies, standard setters and technical implementers should consider the following:
- What extra information is available and is useful for data preparers and data consumers to allow them to filter the concepts?
- What type and structure of the extra references is required?
- Which concepts are improved by the application of metadata?
Data preparers should use the metadata references to filter the taxonomy when searching for related concepts. This can save time avoiding browsing through all the concepts.