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Presentation given at the Nordic XBRL seminar in Helsinki Finland on June 7th 2012 about the GRI Taxonomy: what is it, how can it be used. Also explained the development process.
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The GRI Taxonomy
Helsinki, 7th June, 2012
What is it? How was it made? How can it be used?
© 2012 Deloitte Innovation
Presenter
1
Deloitte Innovation XBRL Team
Involved in XBRL since 2007
GRI - taxonomy architect
Dutch Government -taxonomy
design for grant requests using
XBRL formula
Deloitte - XBRL instance creation
application design
Paul Hulst Manager Senior XBRL Specialist Mobile +316 1258 1923 Email [email protected] Twitter paulhulst
The GRI Taxonomy
2
© 2012 Deloitte Innovation
Population
Growth
Climate Change
Increased
Regulation
Drive for Closed
Loop
Insecure supply
Air, Water, Soil
Pollution
Over
Consumption
Natural Resource
Depletion
NGO/Consumer
pressure
Volatile Markets
Pressure on
transparency
Social Instability
Global issues Company issues
Why companies report on sustainability
3
© 2012 Deloitte Innovation
Why the GRI Taxonomy is created
4 XBRL en duurzaamheid – Maart 2012
Quote from Peter Drucker
Writer, professor and management consultant
“What you can’t measure, you cannot manage. What you
can’t manage, you cannot change.”
© 2012 Deloitte Innovation 5
GRI sustainability reporting is growing
2146
© 2012 Deloitte Innovation
GRI Taxonomy
The Global Reporting Initiative (GRI) is a non-profit organisation that provides a
comprehensive sustainability reporting framework that is widely used around the world.
6
© 2012 Deloitte Innovation
GRI is working in close collaboration with Deloitte to develop the GRI
taxonomy for both the G3 and G3.1 Guidelines. The GRI taxonomy has
been released on March 8th, 2012.
GRI’s sustainability reporting framework is covered by
the GRI Taxonomy
7
© 2012 Deloitte Innovation
Every reportable data element is included in the GRI Taxonomy
GRI’s sustainability reporting framework:
8
Every reportable data element has
• a unique tag
• data type definition
• labels, multiple languages and
types
• a reference to its location in the
GRI Guidelines
Reportable data elements
© 2012 Deloitte Innovation
The GRI taxonomy has 1000+ reportable data elements
Extended Link Number of
disclosures in G3 Guidelines
Number of checks in G3 Checklist
Number of
concepts in G3 Taxonomy
Content index n.a. n.a. 210
Strategy and Profile disclosure 42 140 241
Economic category 9 53 124
Environmental category 30 111 385
Labor Practices and Decent Work category
14 49 204
Human Rights category 9 25 71
Society category 8 26 73
Product Responsibility category 9 35 116
Attachments n.a. n.a. 9
Total 121 439 1433 9
Development approach
10
© 2012 Deloitte Innovation
Development approach
11
Credibility of development process:
• Quality review by the Taxonomy Review Team (experts from software
providers, assurance providers, investors, reporters, standard setters)
• Public Comment Period
• Aligned with taxonomy development approaches used by financial accounting
standard bodies (IASB, FASB and FSAJ)
© 2012 Deloitte Innovation
• Fundamental to development process
• By providing external quality control to content (GRI) and technology
(XBRL)
• Charter to govern work done and relationship to project team
• Intellectual Property
• Responsibilities of individual members
• Advisory capacity only
• Description of tasks
• Volunteers
Taxonomy Review Team
12
© 2012 Deloitte Innovation
• GRI Taxonomy:
a set of XBRL data definitions based on GRI Sustainability Reporting
Guidelines
• Supporting documents
• Architecture and Style Guide:
describes how the GRI Taxonomy was created and why certain decisions
were made
• Implementation Guide:
provides guidance on how to use the GRI Taxonomy to disclose or receive
sustainability data
All files can be found at the GRI Taxonomy website:
https://www.globalreporting.org/reporting/reporting-support/xbrl/Pages/default.aspx
GRI Taxonomy products
Nordic XBRL seminar 13
Using the GRI Taxonomy
14
© 2012 Deloitte Innovation
Issues with sustainability reporting
15
What can you do with the data? Is the data
accurate?
Is the data
on time?
Is the data
complete?
Is the process
efficient?
Who will deliver
what?
Is the data
comparable?
GRI Taxonomy can help
reduce reporting burden and improve control!
© 2012 Deloitte Innovation
Baseline for selecting reportable
measures
Discuss with stakeholders what
can be reported.
How can GRI Taxonomy be used to improve the process
16
Automate
production of
sustainability
report
Automate
collection and
validation
Access to timely, reliable,
and comparable data
provides insight and
enables benchmarking
Data in electronic and
reusable format
Including contextual
information
Clear definitions with
reference to GRI
guidelines
Prepare
Connect
Define Monitor
Report
Reuse unique
definitions of reportable
measures
Generate overview of
measures for different
stakeholder
conversations
Unique IDs for
all reportable
data elements
See https://www.globalreporting.org/reporting/get-started/Pages/default.aspx
© 2012 Deloitte Innovation
How to get started
17 GRI Taxonomy Webinar – March 2012
• Obtain knowledge of XBRL
• Select XBRL software tool(s)
• Understand the GRI Taxonomy
• Map sustainability report to the GRI
Taxonomy
• Tag content index to the GRI Taxonomy
• Tag facts and statements in the
sustainability report to the GRI
taxonomy
• Review and validate instance document
• Submit XBRL report to GRI
GRI
Taxonomy
GRI
Report
understand 1
GRI
Taxonomy
GRI
Report apply
tags
XBRL
Instance GRI
tag 2
submit 3
© 2012 Deloitte Innovation
GRI’s Voluntary Filing Program enables organizations to
showcase their XBRL sustainability report
18 GRI Taxonomy Webinar – March 2012
Reporters Data
consumers
Standards
body
Taxonomy Taxonomy
GRI Voluntary
Filing Program
XBRL report
(Instance file)
Summary
19
© 2012 Deloitte Innovation
Summary
20
© 2012 Deloitte Innovation 21 Nordic XBRL Seminar – 2012 - GRI Taxoonomy
Questions
© 2012 Deloitte Innovation
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