Updates Made To XBRL Taxonomy For Corporate Sustainability Data

The GRI Taxonomy, developed by the Global Reporting Initiative in conjunction with Deloitte, is one of the first XBRL (eXtensible Business Reporting Language) taxonomies for sustainability reporting. It makes it possible for organizations to tag their sustainability data in reports, with the goal of helping report users – including regulators, investors and analysts –  find and analyze that information.

Now it’s expected that the first draft of the GRI G4 Taxonomy will be available for public comment on Sept. 9 until October 25, according to this report at Environmental Leader. G4, the latest version of the sustainability reporting guidelines, was released in May, reportedly with a greater emphasis on what is material to a company and its stakeholders.

During the public comment period, reporting companies and organizations can test and provide feedback on the taxonomy. The GRI will launch the final version in November, the article states.

Environmental Leader also has released an analysts’ report on the G4 guidelines, available here, describing how it will change the state of sustainability reporting.

To read more about the GRI G4 Taxonomy, see the story here.

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