Business View Magazine l October 2022

15 BUSINESS VIEW MAGAZINE VOLUME 9, ISSUE 10 market needs and connecting it through a shared technical infrastructure (i.e., we ensure interoperability at the technical level, not the policy level). To illustrate, the DSD-Lab leverages global leaders such as XBRL International to develop best practices in taxonomy development with all the major accounting and sustainability standard setters around the world, and with EDM Council to leverage its industry leading Data Management Capability Assessment Model (DCAM) model for data management best practices and its Open Knowledge Graph Lab for collaborative data model ontology development. Earlier in 2022, the team collaborated on an initiative to highlight the importance of thinking about information flows from both data management and value chain perspectives. The Use Case aim was to show how a shared smart dictionary that links the concepts, terms, works, metrics, etc. of sustainability standards, regulations, and frameworks could help mitigate taxonomy user risks associated with both divergent standards and divergent taxonomies. One of the assets developed from this initiative was a proposed methodology for taxonomy development (figure 2) – it is the iterative nature of the activities, data insights and the feedback loops that produce high quality data outcomes. Who founded the DSD-Lab? The DSD-Lab was founded by XBRL International, EDM Council, IceBreaker One, OS-Climate and Liv Watson, Senior Digitization Advisor at Capitals Coalition and David Wray, President of DFCG International Group. The larger collaborative group includes several of the Big 4 Accounting firms, International Accounting Association bodies, Software developers, NGOs, Intergovernmental organizations, Regulators, Sustainability experts, Technical standard setters, Preparers, and Investor groups amongst others. Remain informed about the digitization of sustainability information flow work by signing up here . Join us on this exciting journey and get involved, however it makes the most sense for you! About EDM Council EDM Council is the global association created to elevate the practice of data management and analytics as a business and operational priority. The Council is the leading global advocate for the development and implementation of data standards, best practices, and comprehensive training and certification programs. With more than 300 member organizations globally from the Americas, EMEA, and Asia, and more than 20,000 data management professionals as members, EDM