Including both financial and non-financial information is known as "integrated reporting" by public companies. Currently the US Securities & Exchange Commission isn’t even allowing voluntary filing of non-financial data to be included with financial reports by public companies
ESMA states in its disclosed press release that it has concluded that Inline XBRL is the most suitable technology to meet the EU requirement for issuers to report their annual financial reports in a single electronic format because it enables both machine and human readability in one document
Some companies are combining financial reporting with non-financial reporting into ONE REPORT or "Integrated Reporting" to external stakeholders that also includes natural resources and human capital -- beyond just financial information. The CFO in most cases is responsible for this additional reporting by the company
The IOSCO Growth and Emerging Markets Committee welcomes comments on the consultation report on or before 1 April 2019
WHY IS GOVERNMENT FINANCIAL REPORTING USING XBRL IMPORTANT NOW?
The use of XBRL across federal financial reporting can help US government agencies report how taxpayer funds are being spent potentially linked to performance for better government
Key findings of the GAO report: The Securities and Exchange Commission’s ability to assess the accuracy of corporate climate risk disclosures is limited , the General Accountability Office said in its report
What about government reporting like GASB, FASAB, IPSASB and other accounting standards?
Nearly half (45%) of the respondents say they now act as their companies’ de facto chief data officer—reporting on a range of KPIs, including nonfinancial metrics
According to Ceres, a quarter of dollars invested in the U.S. is now ESG investment, raising the stakes on accountable sustainability reporting to investors. Likewise, companies have increased their commitments to ESG: Ceres research shows that among that 600 largest public companies, “nearly two-thirds have commitments to reduce greenhouse gas (gHg) emissions, half are actively managing water resources and nearly half are now actively protecting the human rights of their employees by disclosing human capital data in its financial statement reports as well. Smaller companies and organizations – including government enterprises are all moving toward effective sustainability reporting to the capital markets. Importance of Diversity and Inclusion Having an active diversity and inclusion strategy and disclosing these metrics included in the financial report also builds the business case to attract an increasing number of investors looking for this additional data disclosure