Digital tagging (XBRL Taxonomy)
An important part of modern standard setting includes digital tagging also known as the creation of XBRL taxonomy. As per the CSRD, a digital taxonomy is necessary to allow the reported information to be tagged in accordance with ESRS. The XBRL taxonomy will complement the creation of a European single access point (ESAP) for public corporate.
DG FISMA asked EFRAG in a letter dated 18 October 2022 to develop the draft XBRL taxonomy for:
- ESRS as adopted by delegated act and
- Art 8 of the EC Taxonomy Regulation.
EFRAG will also prepare an XBRL taxonomy for the LSME ESRS as required by CSRD. However, this will commence at a later stage when the draft LSME ESRS has been submitted to the European Commission (expected mid-November 2024).
Taxonomy project pages
ESRS XBRL taxonomy
Development of the digital XBRL taxonomy for ESRS set 1 as published in the Official Journal on 22 December 2023.
Article 8 XBRL Taxonomy
Development of digital taxonomy for Article 8 of the Delegated Regulation (EU) 2021/2178 (Article 8), which supplements Regulation 2020/852 (EU Taxonomy Regulation).