ESG Talk The Digitization of ESG Reporting
May 3, 2024
Join John Turner, CEO of XBRL International, and Wes Bricker, Vice Chair at PwC US, as they delve into the transformation of ESG reporting through digitization. They discuss how XBRL taxonomies enhance data accessibility and clarity, improving regulatory decision-making. The conversation covers the significance of interoperability in sustainability, the need for reliable digital reporting standards, and how technology, including AI, boosts transparency. Discover the pivotal role of proactive planning and advanced tech in refining sustainability disclosures.
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XBRL Enables Digital Reporting
- XBRL is a global standard that converts reporting from paper to digital data.
- It enables machine interoperability by tagging disclosures using a shared language and structure.
Digitization Benefits Markets
- Digitizing information lowers capital costs and improves market fairness.
- XBRL enables structured, accessible data for better decisions by regulators, investors, and companies.
XBRL Supports Sustainability Metrics
- Sustainability reporting shares many digital benefits with financial reporting.
- XBRL supports diverse sustainability metrics, including narrative and physical intensity measures.