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New XBRL taxonomy for climate change reporting released

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14 Nov 2012

The Carbon Disclosure Project (CDP) and the Climate Disclosure Standards Board (CDSB) have released an XBRL (eXtensible Business Reporting Language) climate change reporting taxonomy. The new taxonomy is designed to make climate change reporting easier and more streamlined and aims to facilitate the future integration of climate change data into mainstream financial reports.

The release of the final taxonomy follows the release of a draft taxonomy earlier in the year, the comment period of which closed in September 2012.

The CDP and CDSB envisage the taxonomy will be used by companies for reporting, and considered by governments for the electronic filing of climate change information.  Consistent with the implementation of XBRL in financial reporting and other areas, data made available is more easily collated, compared and analysed by users.

Click for press release (link to CDP website).

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