Rachael Singh, Accountancy Age, Thursday 8 July 2010 at 16:37:00

A new IT standard proposed to help businesses account for sustainabilityissues is to be launched by the Business Application Software DevelopersAssociation

An environmental reporting standard has been developed to make it easier forbusinesses to compile sustainability information through their finance ITsystems.

The standard, launched by BASDA for software developers, is intended to helpfinance functions compile carbon and other environmental information throughtheir accounting systems, into a more manageable format to allow easierenvironmental reporting - which is likely to become mandatory in the next fewyears.

The Green XML standard is a guide for technology developers to createproducts which make accounting and reporting on environmental issues moreaccessible and will be launched by the Business Application Software DevelopersAssociation.

BASDA are due to launch the "Green XML" standard which outlines ways softwaredevelopers can build into their products ways to automatically collectenvironmental information such as carbon footprints and water usage data.

Jairo Rojas, BASDA's director general, said: ?This is a great example ofwhere BASDA has taken the lead and undertaken an important development on behalfof all its members - saving the duplicated effort from each member and ensuringan industry-wide standard approach to collecting carbon tracking and relatedenvironmental data."

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

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

Further reading:

Accountantsnot ready for iXBRL says CCH survey

BASDAlaunches cloud group

UKsoftware industry secures green boost