RegulationCorporate GovernanceBASDA launch IT standard for environmental accounting

BASDA launch IT standard for environmental accounting

A new IT standard proposed to help businesses account for sustainability issues is to be launched by the Business Application Software Developers Association

An environmental reporting standard has been developed to make it easier for
businesses to compile sustainability information through their finance IT
systems.

The standard, launched by BASDA for software developers, is intended to help
finance functions compile carbon and other environmental information through
their accounting systems, into a more manageable format to allow easier
environmental reporting – which is likely to become mandatory in the next few
years.

The Green XML standard is a guide for technology developers to create
products which make accounting and reporting on environmental issues more
accessible and will be launched by the Business Application Software Developers
Association.

BASDA are due to launch the “Green XML” standard which outlines ways software
developers can build into their products ways to automatically collect
environmental information such as carbon footprints and water usage data.

Jairo Rojas, BASDA’s director general, said: “This is a great example of
where BASDA has taken the lead and undertaken an important development on behalf
of all its members – saving the duplicated effort from each member and ensuring
an industry-wide standard approach to collecting carbon tracking and related
environmental data.”

Green XML will be launched at the Global Business of Biodiversity Symposium
in London on 13 July.

Financial software suppliers UNIT 4 are expected to showcase its
environmental performance managment products at the event.

Further reading:

Accountants
not ready for iXBRL says CCH survey

BASDA
launches cloud group

UK
software industry secures green boost

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