The Group, first in the world, has translated its Csr Report 2007 in XBRL language.
XBRL (eXtensible Business Reporting Language) is a new code that will facilitate communication between companies and their stakeholders, particularly with regard to financial analysts and investors. It allows, in fact, to have large amounts of information in easily accessible formats.
The areas of potential application of the XBRL language are several and economic and financial experts appear to have already grasped the potential for innovative, because it is considered as the optimal solution to reconcile different accounting and financial reporting which companies must abide by standards (IAS / IFRS, Sarbanes-Oxley Act, Basel 2, ... U.S. GAAP).
It seems promising even the possibility of applying the XBRL language in the management of non-financial information, that is related to different areas of Social Responsibility, increasingly integrated into the assessment of analysts and investors.
In this direction moves the Project of the Global Reporting Initiative (GRI), the International Network, which issued in 2002 the first standard for reporting on corporate sustainability.
The GRI, in partnership with leading companies in ethical analysis and investment, proposes a specific XBRL Taxonomy making companies aware to use it to encode their non-financial reports.
The Group was the first to join the project, making available the 2007 Csr Report in XBRL format, as a case study for the development of taxonomy.
This confirms the opening of the Group with respect to technological innovation and the issue of disclosure in financial markets, already demonstrated three years ago with the first application, in Italy, of the XBRL language to financial report.
For more information on the project:
http://www.globalreporting.org/ReportingFramework/G3Guidelines/XBRL/
