nordic xbrl seminar paul hulst gri taxonomy - what is it and how can it be used

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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

mailto:[email protected]

The GRI Taxonomy

2


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

http://www.greenpeace.org/international/campaigns/climate-change/kitkat


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


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


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


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


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


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)


• 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


• 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


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!


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


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


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


Summary

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nordic xbrl seminar paul hulst gri taxonomy - what is it and how can it be used

Documents

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gri taxonomy website

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gri taxonomywhat

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xbrl report