UN Climate Change Conference – COP25. Madrid 2-13 December 2019

Goal: Create a comprehensive reporting framework (COP25) for financial and non-financial entities on climate change footprint suitable to be used in whatever Jurisdiction. COP25 will be metrics-agnostic, for structured data, advantaging from the lessons learnt in Banking and Insurance reporting, supported by Data Pointy Model methodology and XBRL syntax.

 Challenge: The existence of several metrics and models about sustainability and climate reporting. The European Commission “Consultation document on the update of the non-binding guidelines on non-financial reporting” requires very different disclosures, specially to Banking and Insurance  entities, with not a closed reference of metrics. The CDP, Spanish Association of Accountants (ACEA) and many other institutions, has also its own operational sustainability reporting But a commonly accepted taxonomy is still missing.

Strategy: Take advantage of the lessons learnt in the development of European Banking and Insurance reporting, with a very large model linking a lot of different metrics, breakdowns and disaggregations. The Data Point Model (DPM) methodology was created precisely to deal with this kind of complex reporting. DPM has currently a CEN CWA status and it has been presented to ISO.

Proposal: Initiate an effort, based in volunteers, for a DPM framework integrating all the existing models for climate reporting. Our role is put together all the reference models in a workable reporting solution. This kick-off exercise would have as perfect natural hosting space the UN Climate Change Conference. Tentative kick-off meeting/Webinar: December 5th

Key success factors:

  1. Contribute to the UN Climate Change Challenge
  2. Contribute to the European Climate efforts
  3. Visualize the DPM advantages when dealing with complex reporting challenge
  4. Deal with a complex model in which Eurofiling practitioners have a lot of expertise
  5. Build a sustainable volunteer team, under the umbrella of Eurofiling Foundation.

Opportunity window: UN Climate Change Conference COP25 is to be held 2-13 December 2019 in Madrid (under the Presidency of Chile) The New European Commission, just starting on duty, has the climate change in the top priority. The kick-off meeting for the flagship Banking Taxonomy COREP (birth place of DPM methodology) took place in Madrid 15 years ago.

Convenors: Eurofiling Foundation and XBRL Spain proudly convene the initiative. XBRL Spain is looking for hosting space in the (or near to) UN Climate Change Conference

Team and resources: Volunteers and companies ready to work in a zero-budget approach, according to the Bylaws of the Eurofiling Foundation.

Governance: Self organized working team. In the rare case of disputes, the President of the Eurofiling Foundation has the ultimate word.

How to enrole?: Simply express ASAP your interest to info@eurofiling.info   

About COP25: The Conference of the Parties (COP) is the supreme decision-making body of the United Nations Framework Convention on Climate Change (UNFCCC).
At this 25th edition organized and presided by Chile, to be held December 2-13 in Madrid, Spain, the 197 Parties that make up the treaty – 196 nations plus the European Union – will seek to move towards the implementation of the agreements that have been reached under the Convention that lays down specific obligations for all Parties to fight climate change.

GREEN ZONE: This is the space for social participation that will be available to all civil society for them to be a fundamental part of COP25 and to directly participate in it, and which will moreover be complemented by the organisation of different events aimed at the general public and civil society throughout the whole city of Madrid.

Events

XBRL Spain: ESEF. Standard format for financial statements in Europe. Madrid, 25 November 2019

UN Climate Change Conference – COP25. Call for volunteers for a Climate Change multimetric taxonomy. Madrid 2-13 December 2019.

Conference XBRL France. Paris, 17 December 2019

48th WCARS – Continuous Auditing and Reporting. Madrid, 23-24 April 2020

27th Eurofiling Conference. June 2020

ESMA’s video tutorial on the ESEF, 2019-09-11

Log ESMAThis is the third video of a set of tutorials which ESMA is preparing to inform all relevant market participants of the new requirements set out by the ESEF regulation starting in 2020 and will impact all issuers within the Transparency Directive.

ESEF in the Official Journal. 29 May 2019


Q&A on the RTS on European Single Electronic Format (ESEF)
Transparency requirements for listed companies in the EU

EBF recommendations for a stable and efficient regulatory framework

The European Banking Federation has published a visionary manifest which addresses topics of interest for the Eurofiling Community. Click into the image to download BOOSTING EUROPE as pdf.

Eurofiling Conference, Frankfurt 2019

Eurofiling Conference
June 17-18-19, 2019
Hosted by the ECB, Frankfurt

Register at http://2019.eurofiling.info/register

Programme

MONDAY JUNE 17, 2019

ESMA Meet-the-Market session on the ESEF format and iXBRL
Tutorials on Supervisory Reporting, Data Point Modeling, …

TUESDAY JUNE 18, 2019

Main stage day focusing on the present

Topics: Supervisory Reporting, Statistical Reporting, CRDIV, Solvency II, AnaCredit, MIFIDII, standards (XBRL, SDMX, ISO20022, LEI, IFRS, etc)

Opening keynote speech by François Laurent, European Central Bank

  • keynote speech by Jo Swyngedouw, interim Chair at EBA
  • keynotes from ECB, EIOPA, ESMA, SRB about the current state of play with supervisory and statistical reporting, strategies about data collection and the fitness of existing regulation.
  • executive updates about this year’s XBRL Taxonomy roadmaps and expected timelines for reporting by the industry to their National Competent Authorities.
  • parallel track sessions from academic and innovative speakers about novelties and analyses and technical updates from “the ones who know”

WEDNESDAY JUNE 19, 2019

Main stage day focusing on the future

Topics: future of Supervisory Reporting in the digital age, Sustainability, IReF, SDD/BIRD, Blockchain, EC Quantum Flagship, eIDAS, AML, SBR, etc..

Opening keynote speech by Werner Bier, Deputy Director DG Statistics, European Central Bank

  • key note speeches from various specialists on various topics
  • more on the IReF initiative from the ECB
  • BIRD and the Single Data Dictionary
  • Harmonisation initiatives around the Anti-Money-Laundry theme
  • Machine Learning initiatives at the regulatory side
  • panels on Blockchain, digital age and quantum tech

More information and more details soon on http://2019.eurofiling.info/

The Organizing Committee

ESEF: green light on RTS endorsement

European Commission has given its green light on endorsement of the RTS on ESEF. The final text of the Commission’s legislative proposal (delegated act) sent to the Council and to the European Parliament can be accessed at this link in all official languages of the EU. Please note that this delegated act is still subject to the right of the European Parliament and of the Council to express objections, in accordance with Article 290 (2) of the Treaty on the Functioning of the European Union. It is expected that the objection period will be 3 months renewable once. If no objections are raised at the expiry of this period, the text will enter into force upon Publication in the Official Journal.

ESMA’s video tutorial on the ESEF, 2018-11

ESMA has published in November 2018 a tutorial on the upcoming ESEF format, which will be used as from January 2021 by Europe’s stock-listed companies.

The text is available via this link

Eurofiling Foundation invites all software vendors providing iXBRL solutions for the ESEF to list their solutions

The Eurofiling Foundation invites all software vendors providing iXBRL solutions in the European Market, in particular for the purpose of the European Single Electronic Format Reporting (ESEF) reporting set out by ESMA’s draft Regulatory Technical Standards on ESEF, to list their solutions and contact details at the following page: iXBRL solutions in the European Market

This list will serve the purpose of providing issuers and other interested stakeholders with the relevant contacts and possible solutions to support their implementation of the ESEF requirements.

Write to info@eurofiling.info (including details on your company, base country, website, products and frameworks) to include your solution among the listings for free.

Eurofiling Foundation is offering since since 2016-05-07 the page XBRL solutions in the European Market to share the existence of market-proof XBRL solutions which have an active customer base in Europe, particularly in EBA and EIOPA frameworks.

EC report on the Call for Evidence

EC-reportIn relation to the FDS Project and the Fitness Check at DG FISMA, as explained several times during Eurofiling workshops by Peter van den Hul: the EC has published a progress report on the follow-up to the Call for evidence on the EU regulatory framework for financial services, launched in 2015 by the European Commission.

Text of the report

More info at https://ec.europa.eu/info/publications/171201-report-call-for-evidence_en

 

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