Sustainability/ESG Bulletin, 6 February 2026

In this week’s Sustainability/ESG Bulletin read about supports for businesses affected by flooding and findings from the Central Bank of Ireland of the emerging economic and financial costs of climate change. New guidance was issued in the UK for businesses making environmental claims, and a record amount of new offshore wind capacity was announced for new clean power projects. In the EU a public consultation on future EU climate resilience is now live, and the EU Council greenlighted a ban on Russian gas imports. The global insurance industry reported ‘growing ambition and leadership’ and AI is ‘a magic wand’ for helping organisations realize their sustainability goals. This, plus the latest articles, resources and upcoming events.

IRELAND

Central Bank data finds economic and financial costs of climate change already emerging
The economic and financial costs of climate change are already emerging, according to data published by Central Bank of Ireland in its annual Climate Observatory Report. These reports aim to equip stakeholders with the metrics needed to understand climate related risks by integrating Central Bank analytics with third party data sources. The January 2026 update reports that roughly 6 percent of domestic business loans lie in flood risk areas, rising to 12–16 percent under future scenarios, and around half of corporate lending is to economic sectors with elevated transition risk. While the uptake of retrofits, electric vehicles and renewables is increasing in Ireland – and globally clean energy investment surpassed fossil fuel investment in 2025 – atmospheric CO2 and global temperatures have reached unprecedented levels, raising the risk of triggering several climate tipping points.  

Supports for businesses affected by flooding

The Government has published updates to the Emergency Humanitarian Flooding Scheme for small businesses and community, voluntary and sports organisations affected by flooding. The Scheme is aimed at businesses and organisations unable to secure flood insurance and provides a contribution towards the costs of returning a business premises to its pre-flood condition. This can include replacing flooring, fixtures and fittings, and damaged stock if relevant. Eligibility for the Scheme has also been extended to organisations of up to 50 employees and the upper limit for payments has been increased from €20,000 to €100,000 for the most impacted premises. Deadline for applications to the scheme, which is administered by the Irish Red Cross on behalf of the Department of Enterprise, Tourism and Employment, is 20 February 2026. Full details and application forms are available here.

Northern Ireland/UK

Updated guidance for business making environmental claims

The UK Competition and Markets Authority (CMA) has released updated guidance for brands on making environmental claims. Making green claims: Getting it right, across the supply chain clarifies where responsibility sits across the supply chain. It was produced in response to requests from stakeholders in a variety of sectors seeking further clarity to supplement the Green Claims Code; this was issued for the fashion industry in September 2024 on supply chain liability in relation to environmental claims and what this means in practice for different businesses. It also comes after the Digital Markets, Competition and Consumers Act took effect in April 2025, giving the CMA new powers to impose financial penalties on companies that mislead consumers.

Record amount of offshore wind capacity secured in UK

A record amount of new offshore wind capacity has been announced for new clean power projects in UK following its latest renewables auction. With enough capacity to power 12 million homes, new offshore wind farms aim to strengthen Britain’s energy security, reduce electricity bills and create a clean electricity system by 2030. The auction hopes to unlock around £22 billion in private investment, supporting up to 7,000 jobs, bringing growth and employment to all regions of the country.  Offshore renewable energy generation and strong inter connections were highlighted in the Hamburg Declaration signed in January 2026, as essential to the long-term competitiveness of industries on the global stage.

EUROPE

Public consultation on future EU climate resilience by European Commission

The European Commission is inviting citizens, businesses, regional authorities, and all stakeholders to take part in a new public consultation on climate resilience. The consultation aims to fill knowledge and evidence gaps in areas such as climate risk assessments and disclosure, regulatory frameworks and standards, governance and oversight, incentives and enforcement, financial frameworks, cross-border cooperation and consistency, sector policy commitments and contributions, stakeholder engagement and participation, emerging socio-economic trends, and technological innovation. The public consultation is open until 23 February.

EU Council gives final green light to a stepwise ban on Russian gas imports

The 27 EU member states have formally adopted the regulation on phasing out Russian imports of both pipeline gas and liquified natural gas (LNG) into the EU. The new rules – described as “a key milestone in delivering the REPowerEU objective of ending the EU’s reliance on Russian energy” – also include measures on effective monitoring and diversification of energy supply. Non-compliance may result in maximum penalties of at least €2.5 million for individuals and at least €40 million for companies, at least 3.5 percent the company’s total worldwide annual turnover, or 300 percent of the estimated transaction turnover.  The ban will start to apply six weeks after the regulation enters into force, with existing contracts will have a transition period, a so-called ‘stepwise’ approach which aims limit the impact on prices and markets. A full ban will take effect for LNG imports from the beginning of 2027 and for pipeline gas imports from autumn 2027.

WORLD

Report finds growing ambition and leadership across the insurance industry

A report published by the University of Cambridge’s Institute for Sustainability Leadership has shown a growth in ambition and leadership across the insurance industry. The 2025 ClimateWise Principles Independent Review,  which has provided a framework for the insurance industry to disclose climate-related risks and opportunities since 2007, claims increasing capability in the industry to build resilience, support the transition and drive meaningful action on climate change. Areas where there were notable improvements in 2025 included strategic integration and a growing focus on double materiality, with 58 percent of members having conducted, or plan to conduct, double materiality assessments. The review also points to improved governance of nature-related risks and opportunities, with nature considerations becoming more firmly embedded (39 percent of members are now integrating nature-related risks into board-level governance processes).

‘Like a magic wand” – report finds AI helping organisations realize their sustainability goals

A report published by Reuters in collaboration with Siemens has found that AI-driven sustainability is no longer ‘emerging’ but is delivering measurable results and benefits. The report, From Pilots to Performance, drew on contributions from over 260 senior executives, and found that 65 percent of organisations report energy savings from using ‘industrial AI’, with 59 percent achieving CO2 reductions averaging 24 percent. According to the findings, 81 percent of manufacturers believe future sustainability innovation will be AI-driven. They also expect it to drive sustainability gains across multiple operational areas, from improving energy efficiency across operations, to optimizing supply chains and logistics for lower emissions, to enabling predictive maintenance and reducing equipment downtime. Commenting, Dr. Eva Riesenhuber Global Head of Sustainability Siemens AG said: “AI is like a magic wand—it opens up possibilities we’ve never had before... enables us to orchestrate complexity across entire value chains—transforming energy systems, supply chains, and infrastructure from fragmented parts into intelligent, sustainable ecosystems”. The research also found that organisations lack internal expertise to implement cutting-edge industrial AI and explores how successful organizations are navigating the talent and change management challenges that technology alone can't solve.

RESOURCES

Energy Upgrades for your Business - New module for SMEs from SEAI

Energy Upgrades for your Business, the latest module in SEAI’s Energy Academy free, online learning resource for Irish businesses is now available. The 20-minute free module

• gives a short overview of what energy upgrades are
• explains why you need to start thinking about them for your business (i.e. business and compliance benefits)
• simplifies ‘business decarbonisation’
• gets you up to speed with how energy upgrades can make your business cheaper to run
• helps you figure out what energy upgrades your business needs
• explains the grant supports available through SEAI.

   

David Carlin's Digest: Your Guide to a Changing World

This update from global sustainability authority David Carlin has good pieces on:

• the EU’s taxonomy simplifications signal for companies and financial institutions
• new research showing climate transition and physical risks are now affecting borrowing costs in the European repo market
• the UNEP’s latest State of Finance for Nature report showing that the world’s capital flows are still overwhelmingly aligned with nature destruction, not restoration with a ratio of 30:1 between harmful and helpful investments, and
• new evidence showing that politicians consistently underestimate public support for climate policy.

PODCAST

RTÉ, Can nature stop flooding?
Professor of Geography at TCD, Mary Bourke explains how nature could help prevent some of the worst flooding RTÉ Behind the Scenes  (25 mins) - worth your time

ARTICLES

• UK voluntary sustainability assurance oversight regime announced (ICAEW Insights)
• Fossil fuel firms may have to pay for climate damage under proposed UN tax (The Guardian)
• Dutch government discriminated against Bonaire islanders over climate adaptation, court rules (The Guardian)
• Trump administration unlawfully suspended EV charger infrastructure program, US judge rules (Reuters)
• Climate tipping point will be reached by the end of this decade, Copernicus institute warns (The Journal)
• Most companies are staying the course on ESG — just talking about it less (ESG Dive)
• European EV sales overtake petrol for first time in December (Financial Times)

EVENTS

Pentland Centre for Sustainability in Business - Lancaster University, Starting Your Journey with Tools and Frameworks
Second in the series, this webinar explores tools and frameworks that support decision-making for nature and biodiversity, including the Natural Capital Protocol and TNFD. Learn how these approaches help businesses identify relevant priorities and communicate outcomes effectively.
Virtual, Thursday 12 February, 8:00am – 9: 00am | 4.00pm – 5.00pm

SEAI, Introduction to Energy Management Training for SMEs
This workshop is aimed at the owners, senior managers and facilities managers of small and medium enterprises who have recently started out on their energy saving journey. This is a free 2-hour online workshop, delivered by an energy consultant, which supports SMEs in creating an energy action plan.
Virtual, Thursday 12 February from 2–4pm, Free

ICAEW, Putting nature on the balance sheet — Troubleshooting session
Troubleshooting session to tackle common challenges on how to embed nature into the activities and processes of the finance function.
Virtual, Wednesday, 18 February, 4 - 5pm CET

Reuters Events, Practical Implications of the Omnibus
A webinar hosted by Reuters Events in partnership with Professor Andreas Rasche, Associate Dean, Copenhagen Business School. The session will explore the practical implications of the EU Omnibus package and what these changes mean for organisations preparing their 2026 sustainability reporting strategy.
Virtual | Thursday, 19 February 2026 | 10:00 am–11:00 am GMT / 11:00 am–12:00 pm CET

UN Global Compact Network UK Webinar Series, The Business Role in Systems Change, Feb/Mar 2026
Businesses are facing escalating risks as the world approaches critical tipping points. Corporate resilience now depends on the transformation of markets, supply chains, and business models needed to steer the system towards stability. There is also potential for positive tipping points - moments when small, well-directed actions accelerate large-scale transitions towards sustainability. Businesses hold a unique capacity to create and amplify these dynamics of change. In these webinars, leading scholars and experts will discuss tipping points, climate risk, and systems change, how to respond to emerging climate realities and apply breakthrough frameworks such as the Positive Tipping Points Toolkit and Doughnut Economics to unlock change at multiple scales.  

Webinar sessions:
Understanding Tipping Points Risks, Feb 26  | 14:00
Systems Thinking in Business and Climate, Mar 5  | 14:00
Triggering Positive Tipping Points, Mar 12 | 14:00

Shift, EU Omnibus Webinar - Briefing for business on the revised CSDDD and performing due diligence
This webinar will feature insights from the Shift team and leading businesses on practical, real‑world approaches to implementing due diligence aligned with good practice. The session will explore how due diligence requirements under the CSDDD and reporting obligations under the CSRD can be addressed in an integrated way, rather than treated as separate exercises. Companies in scope of the CSDDD or operating within their value chains are encouraged to attend.
Virtual, Thursday, 26 February 2026 | 09:00

SEAI, EXEED Energy Efficient Design Training
Join our exclusive free half-day training and become a leader in energy-efficient design. The SEAI EXEED team invites you to a dynamic training session designed to upskill professionals and stakeholders in the Excellence in Energy Efficient Design (EXEED) process. This training is ideal for those aiming to become an Energy Efficient Design (EED) Expert.
Virtual, Friday 27 February, 9am - 1pm

Shift, EU Omnibus Webinar - Briefing for business on the revised CSRD and reporting on sustainability issues
The session will examine what recent changes to the CSRD and the ESRS mean in practice for how companies report on sustainability issues.  The webinar will feature insights from the Shift team, alongside leading businesses, on implementation approaches that reflect good practice, support companies in identifying and addressing key risks, and remain practical and workable in real-world contexts. The discussion will also explore how reporting obligations under the CSRD and due diligence requirements under the CSDDD should be considered together, rather than in isolation.  If your company is in scope of the CSRD, or part of the value chain of a company that is, we encourage you to join us.
Virtual, 3 March 2026 | 15:00

Sustainability Centre

You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.