The Global Reporting Initiative (GRI) has launched a new format for tagging data in sustainability reports, including carbon emissions, water use and human rights infringements.
The new XBRL (eXtensible Business Reporting Language) taxonomy was developed in collaboration with Deloitte Netherlands and aims to help people find information hidden in sustainability reports much more quickly and easily.
“The GRI taxonomy means that companies can tag their sustainability data, making it easily accessible for people who want to find information in the report.” GRI deputy chief executive Nelmara Arbex said.
Deloitte Netherlands chief financial officer Cees de Boer explained the taxonomy will enable both reporters and regulators to “exchange sustainability data electronically and inform stakeholders with consistent and high quality information”.
Related
“It can be a major leap in the interactive use of sustainability data and integrating financial and non-financial reporting.” de Boer said.
GRI also launched a Voluntary Filing Program, where reporters that use the GRI taxonomy can promote their tagged reports on GRI’s website.