Overview

The nation’s infrastructure is undergoing a seismic shift, and a collaborative approach is required from us all.

The nation’s infrastructure is decades old with processes that are also decades old that need to be modernized.

The built environment in its early years represented the greatest infrastructure the world has ever seen.

Next generation-built environment will rely on data, data interoperability and require data standards.

Next generation platforms will innovate new risk analytical tools and enable new products and services for predictive analytics that better manage risk.

Expanding the XBRL taxonomy to enable next generation infrastructure will help Make

Infrastructure Great Again. 

Our collaboration proposal is to identify data elements for incorporation into the XBRL taxonomy, and to contribute towards the ongoing development of innovative platforms by enabling the IDEA data standard with new data elements as needed.

This collaboration response is a continuation of prior and current federal initiatives like Orange Button and SolarApp and legislative acts like the 2014 DATA Act, 2023 Financial Transparency Act, 21st Century IDEA and the 2023 Infrastructure Acts (IRA & IIJA) that seek to establish digital ecosystems to innovate next generation infrastructure. 

The eXtended Business Reporting Language (XBRL) and the International Financial Reporting Standard (IFRS) are already aligned and establish the International Digital Ecosystem Architecture (IDEA) that can be expanded to reduce the estimated 40% waste in construction, align public and private data across multiple international market sectors, improve risk management and expand opportunities for small and local businesses.

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