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Lecture 11 Issues in ESG Reporting II

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9 views

Lecture 11 Issues in ESG Reporting II

Uploaded by

Chun wai Lee
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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Lecture 11 Issues in ESG Reporting II

Keith Chan ([email protected])


Quentin Moreau ([email protected])
Division of Environment and Sustainability
The Hong Kong University of Science and Technology
Fall 2024

Keith Chan & Quentin Moreau ESG REPORT


Outline

▪ iXBRL for financial reporting

▪ iXBRL for sustainability reporting

Keith Chan & Quentin Moreau ESG REPORT


Japan adopted iXBRL in 2008

https://www.fsa.go.jp/en/news/2008/20080317.html

Keith Chan & Quentin Moreau ESG REPORT


EU adopted iXBRL in 2017

https://www.esma.europa.eu/issuer-disclosure/electronic-reporting

Keith Chan & Quentin Moreau ESG REPORT


US adopted iXBRL in 2018

https://www.sec.gov/news/press-release/2018-117 Check out US EDGAR and Googlesheet

Keith Chan & Quentin Moreau ESG REPORT


Outline

▪ iXBRL for financial reporting

▪ iXBRL for sustainability reporting

Keith Chan & Quentin Moreau ESG REPORT


US extension to ESG reporting

▪ These changes also would allow investors to identify funds more readily and
advisers that do or do not consider ESG factors, differentiate how they
consider ESG factors, and help inform their analysis of whether they should
invest. To address exaggerated claims about ESG strategies … we also propose
that funds tag their ESG disclosures using the Inline eXtensible Business
Reporting Language (“Inline XBRL”) structured data language to provide
machine-readable data that investors and other market participants could use
to more efficiently access and evaluate ESG funds.
▪ https://www.sec.gov/rules/proposed/2022/ia-6034.pdf

Keith Chan & Quentin Moreau ESG REPORT


EU extension to ESG reporting

▪ CSRD aims to create a set of rules that will – over time – bring sustainability
reporting on a par with financial reporting.” To this end, it will extend the
European Single Electronic Format (ESEF), currently rolling out for financial
reporting, to ESG. Powered by Inline XBRL, this will require companies to
digitally tag sustainability information, making it machine readable and
comparable. The Commission also envisages that CSRD disclosures will be
made available through the developing European Single Access Point (ESAP).
▪ https://www.xbrl.org/news/big-news-europe-to-get-mandatory-digital-esg-disclosure-using-inline-xbrl/

▪ https://www.efrag.org/Lab4

Check out EFRAG outreach slides

Keith Chan & Quentin Moreau ESG REPORT


ESRS digitalization process overview

Keith Chan & Quentin Moreau ESG REPORT


XBRL taxonomy for SASB

https://www.sasb.org/structured-reporting-xbrl/

Keith Chan & Quentin Moreau ESG REPORT


Preparing iXBRL reports

Keith Chan & Quentin Moreau ESG REPORT


Preparing iXBRL reports

Keith Chan & Quentin Moreau ESG REPORT


Preparing iXBRL reports

Keith Chan & Quentin Moreau ESG REPORT


Preparing iXBRL reports

Check out ESRS illustrative reports

Keith Chan & Quentin Moreau ESG REPORT

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