Sustainability ESG Bulletin, 6 June 2025

In this week’s Sustainability/ESG Bulletin read about Ireland’s first National Climate Change Risk Assessment, new sustainability coaching platforms and funding opportunities, Northern Ireland’s Green Skills Action Plan, secondary EU legislation for Net Zero Industry Act, a global SME Sustainability Information Survey, Central Bank warnings of GDP losses from extreme weather events, as well as the usual resources, articles, podcasts and upcoming events.  

Chartered Accountants Ireland

Chartered Accountants Ireland and other businesses join call to action  

Chartered Accountants Ireland took part in a call to action on Pearse Street this week, urging Dublin City Council and local stakeholders to make Pearse Street greener, more vibrant and more engaging for street users - and to take meaningful action on the climate and biodiversity crises. In support of the initiative, Lord Mayor of Dublin, Emma Blain, and Green Party leader Roderic O’Gorman TD were in attendance, underlining the importance of collaboration between civic leaders and local communities to reimagine urban space. Read more here.

⭐Last chance to enter: Chartered Star! ⭐

There are only days left to enter for your chance to become the 2025 Chartered Star! Expand your network, embrace new opportunities, be inspired and be part of a global community of change makers.  The 2025 Chartered Star competition celebrates the amazing work done by the Chartered community in support of the UN SDGs, whether that’s volunteering in your personal life, driving change in your workplace or through leveraging your ACA qualification. Along with the title of Chartered Star, the winner will attend the One Young World in Munich this November. Apply before midnight, this Sunday 8 June. 

IRELAND NEWS

The Environmental Protection Agency (EPA) has published its greenhouse gas emissions projections for the period 2024-2055, which indicate that planned climate policies and measures, if fully implemented, could deliver only up to 23 percent emissions reduction by 2030 compared to 2018. This falls short of the reduction target of 51 percent set out in Ireland’s Climate Act. The transport, industry and the buildings (residential) sectors are projected to be the furthest from their sectoral emission ceilings in 2030. Commenting, Laura Burke, Director General, EPA said that the figures highlight “the economy-wide effort needed to decarbonise our society” and the need for focus to shift from policy aspiration to practical implementation.” 

Ireland’s first National Climate Change Risk Assessment publishes

The EPA has also published the first National Climate Change Risk Assessment which assesses where, when and how climate risks are likely to impact Ireland. The risk assessment is intended to support the development of Sectoral Adaptation Plans by key government departments, and will guide the development of Local Authority Climate Adaptation Plans, and inform other national-level adaptation responses, such as that by the Central Bank of Ireland. It identifies 115 risks spanning all sectors of Ireland’s economy, environment and society, including risks to financial systems, energy, transport and communications, water security, public health, food production and supply chains, and ecosystems. Four priority risks identified are Flooding, Extreme Wind, Coastal Erosion and Flooding and Heat, all of which will require additional action in the next five years.

Bank of Ireland launches Sustainable Business Coach online platform for SMEs

Bank of Ireland has launched a new Sustainable Business Coach online platform, a free tool designed to support SME business customers with sustainability planning and identifying ESG priorities. Underpinned by a globally recognised framework based on the UN’s Sustainable Development Goals, the platform is designed as an ESG questionnaire, with businesses answering a series of multiple-choice questions and thee resulting assessment providing a summary of their current sustainability position with key action areas. Action areas include greenhouse gas (GHG) emissions, employee engagement, energy usage, procurement and water & waste management. The platform was launched following research conducted by Bank of Ireland which revealed that most SMEs are unclear on how to implement sustainable growth plans; over 70 percent were concerned about the impact ESG requirements could have on their own enterprises.

Open Call for expression of interest to deliver Series 2 of the Growth and Sustainability Loan Scheme

The SBCI has launched an Open Call for Expression of Interest to identify and select finance providers to deliver Series 2 of the Growth and Sustainability Loan Scheme (GSLS), the long-term low-cost scheme to support eligible businesses when investing in their growth and resilience or climate action and environmental sustainability. Proposals submitted to SBCI must conform to the requirements of the Call. Finance providers interested in presenting a submission must read the Guidance Document first. The closing date for receipt of Expressions of Interest is 17 June 2025.

SEAI National Energy Research Funding Call - 2025 Call Open

The Sustainable Energy Authority of Ireland (SEAI) has announced that applications are now open for the 2025 SEAI National Energy Research, Development & Demonstration (RD&D) Funding Programme. Up to €19 million is available in Government funding through the Department of Climate, Energy and the Environment and co-funders including, Met Éireann, Climate Change Advisory Council Ireland, and Department of Agriculture, Food and the Marine. The 2025 call is open for applications from all research disciplines, and from public and private sector organisations, either applying individually or as part of a consortium. The deadline for submissions is 12 noon (Irish Standard Time) 1 July, with awards notified in Q4 of 2025.

NORTHERN IRELAND/UK

Northern Ireland’s Green Skills Action Plan launches

Northern Ireland Economy Minister Dr Caoimhe Archibald has launched a Green Skills Action Plan, developed in conjunction with an industry-led expert working group. The Action Plan provides a framework to guide government, employers, educationalists and individuals on what is required to deliver the skills and green jobs for the future. Commenting, Gordon Parkes, Executive Director People and Culture for NIE Networks and Chair of the Green Skills Delivery Group, said that the plan “presents a once in a generation opportunity to create an integrated green skills system that works effectively for individuals, business and the economy.”

How to support SMEs to cut carbon and costs

The UK’s Federation of Small Businesses has published a policy report  New Growth - how to support small businesses to cut carbon and costs on the road to net zero. The report, which was supported by Zurich UK, highlights the pivotal role small businesses play in driving the transition to a sustainable economy and emphasises the need for tailored support to help SMEs decarbonize, especially those eager to embrace sustainability, but facing challenges such as limited knowledge, financial constraints, and regulatory complexity. Together, FSB and Zurich call for collaborative efforts to unlock the green economy’s potential and ensure small businesses are equipped to lead the charge toward net zero.

EUROPE

European Commission launches secondary legislation for Net Zero Industry Act

The European Commission has issued four new pieces of secondary legislation and a communication relating to the Net-Zero Industry Act (NZIA) which it states will help the EU's industry to become more resilient and competitive and will reduce its carbon footprint. The rules clarify which manufacturing projects can benefit from specific provisions in the Act, such as on permitting, strategic project status and on non-price criteria. They will help scale up the manufacturing of net-zero technologies that reduce greenhouse gas emissions and leverage the competitive advantage of the EU's clean tech industry.

EU Parliament supports proposals to simplify EU carbon leakage instrument

The EU Parliament has endorsed the Commission’s proposal to simplify the EU carbon border adjustment mechanism (CBAM). The proposed changes are part of simplification efforts to reduce the administrative burden for SMEs and occasional importers. The proposal would exempt the vast majority (90 percent) of importers − mainly small and medium-sized enterprises and individuals − who import only small quantities of CBAM goods. The CBAM environmental objectives remain achievable, as 99 percent of total CO2 emissions from imports of iron, steel, aluminium, cement and fertilisers would still be covered by the rules. Parliament is now ready to start negotiations with Council on the final shape of the legislation.

European Commission endorses assessment of Ireland’s €115.5 million payment request

The European Commission endorsed a positive preliminary assessment of Ireland's second payment request for €115.5 million under the Recovery and Resilience Facility, the centrepiece of NextGenerationEU. The payment request supports six reforms and five investments that will benefit citizens and businesses in Ireland, focusing on enterprise emissions reduction, sustainable transport, carbon taxation, digitalisation in schools, businesses, and public administration, as well as ICT skills, healthcare, pensions, and housing. Flagship measures in this payment request include an investment to support the electrification of Cork rail, and an investment to support industry decarbonisation. The Commission has sent its preliminary assessment to the Economic and Financial Committee (EFC), which has four weeks to deliver its opinion, on receipt of which - and the adoption of a payment decision by the Commission - the payment to Ireland can take place.

Businesses call on EU to set 90 percent 2040 emissions-reduction target

Over 150 businesses and investors have signed a joint letter calling on the EU to set a greenhouse gas emissions reduction target of at least 90 percent by 2040. The letter, which was coordinated by the Cambridge Institute for Sustainability Leadership’s Corporate Leaders Group Europe, states that “Businesses are ready to play a key role in translating climate targets into concrete action with the support of enabling measures and policies” . The science-based target reflects the urgency and benefits of near-term action, one that will bring economic opportunities and competitiveness benefits while increasing energy security for citizens and businesses, and improving the EU’s resilience to shocks. The signatories further argue that the target - and climate more broadly – should be considered as a central element of the EU’s overall strategy to achieve these objectives, thereby allowing the EU to lead the global race of development of sustainable industrial ecosystems and industries. 

EU on track to meet 2030 emissions goal thanks to strong progress on renewables

A European Commission assessment of member states’ updated National Climate and Energy Plans (NECPs) reportedly said the EU is “well on track” to reduce emissions by 54 percent by 2030, just one percent shy of its legally binding 55 percent target. Civil society groups, however, point to shortcomings in the NCPDs, saying that many lack the necessary ambition and policies to deliver the emissions reductions required, particularly in the field of energy efficiency. Ireland is among a coalition of NGOs from countries including France, Germany, Italy, Sweden, Bulgaria, Cyprus, and Malta which is reportedly calling on the European Commission to launch legal action against their governments for the shortcomings in their climate plans, which they consider to be not just policy failures but breaches of EU law.

WORLD

Central Banks warn of GDP losses from extreme weather events

The group of Central Banks and Supervisors that comprise the Network for Greening the Financial System (NGFS) has warned that extreme weather events could cause severe regional GDP losses, with effects on the global economy, and that delaying efforts to transition to a low-carbon economy could generate a global net economic loss. The warning was issued as NGFS unveiled its new short-term scenarios tool to assess the impact of climate shocks and policy shifts in the near term, adding to its established long-term models. The scenarios, released on 7 May, are the first publicly available tool offering a dedicated framework to analyse the potential near-term impacts of climate policies and climate change on financial stability and economic resilience.

Institutional investors leading the way in ESG

Private capital managers have emerged as some of the strongest advocates of ESG, according to latest biennial ESG study carried out by BNP Paribas. The study sought the views of 420 institutional investors, including asset owners, asset managers and private capital firms, across 29 countries. The findings show that institutional investors remain committed to sustainable investing, with growing recognition of holistic approaches and links between climate, biodiversity and social impact being approach is key to their investment strategies.

International Standard on Sustainability Assurance (UK) 5000

The Financial Reporting Council (FRC) has issued a consultation on a proposed UK version of the International Standard on Sustainability Assurance (ISSA) 5000, “General Requirements for Sustainability Assurance Engagements”. Read more from Chartered Accountants Ireland.

IFAC and Edinburgh Group Global SME Sustainability Information Survey

IFAC & Edinburgh Group Global are inviting you to complete a short survey (10-15 minute) of small- and medium-sized entities (SMEs) about sustainability information. Your response will contribute to global insights that help us to better understand the extent to which sustainability-related information is being prepared by SMEs, used by SMEs in internal decision-making, or provided to supply chains, lenders, or other stakeholders. With the data we gather, we’ll be able to better support SMEs with best practices and advocate for appropriate SME sustainability-related reporting and assurance rules and regulations. This will advance the accountancy profession’s pursuit of high-quality disclosure and assurance of sustainability-related information. The survey is open until June 30, 2025 and please see this short video for more information.

Resources

Business Briefing on Anti-Greenwashing Regulation & Mitigation Risk

This playback of a special online business briefing from Ibec on complying with anti-greenwashing regulation and mitigating risk with subject matter experts from A&L Goodbody covers different types of greenwashing, the existing legislative and regulatory framework for green claims, and incoming legislation on the topic.

Open call for participants in ‘The Business of Nature Positive’ at Trinity Business School

Articles

Irish businesses still see benefit in sustainability initiatives, survey says (Irish Times)

TNFD guide affirms nature as a director’s duty (ICEAW Insights)

How your business interfaces with nature - Data and language of the double materiality assessment (Business for Biodiversity Ireland)

New Leaving Cert course aims to encourage climate activism (RTÉ News)

Bank Watchdogs Flag Near-Term Risks of Delaying Climate Efforts (Bloomberg)

Sustainability-focused funds surpass €6 trillion (Law Society Gazette)

The business case for a 90% 2040 emissions reduction target (Sustainable Views – Subscription)

Class is the missing link in employers’ diversity drives (The Financial Times - Subscription)

Podcast

Events

Chartered Accountants Ireland, Why Nature Matters to Accountants
Join Rosie Duncombe FCA, Dr Catherine Farrell, and Institute team members Dee Moran and Susan Rossney as they discuss nature in decision-making to build business resilience and competitive advantage. This free webinar will also cover the Global Accounting Alliance’s starter guide, Why nature matters to accountants.
Virtual, Zoom, Tuesday 17 June, 12:00pm–12:45pm

Dublin Chamber, Business Energy Upgrades: Drivers, Funding & other Tools for SMEs
Reducing energy use and energy-related costs makes perfect sense: it saves money, protects against energy costs volatility and enhances businesses' reputations. It also improves building occupants' comfort and helps everyone in the fight against climate change. Join us at this event to discover the range of funding supports and practical resources available to help businesses implement energy upgrades. As part of the event there will be a suite of resources launched including Energy Upgrade: Decision Making Toolkit, Case Studies for different building typologies, Technical Advice Report Guide for SMEs, and a Financial Handbook.
In person, Venue: Dublin Chamber, 7 Clare Street, Dublin 2, Wednesday 18 June 2025, Time: 9.30am – 11.00am.

UN Sustainable Development Solutions Network (SDSN), Sustainable Development Report (SDR) 2025 launch
The UN SDSN will launch its report which this year has a unique focus on reforming the Global Financial Architecture (GFA) and scaling up global financing flows to support the SDGs through 2030 and beyond. The launch event will present key findings from the SDR 2025, including the updated SDG Index and Dashboards, and will feature insights from high-level leaders and experts on transforming the GFA to better serve sustainable development.
Virtual, Tuesday, 24 June, 2024, 8:00 AM to 9:45 AM EST.  

SEAI, Introduction to Energy Management Training for SMEs
The SEAI is running an Introduction to Energy Management Training for SMEs workshop 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 which supports SMEs in creating an Energy Action Plan.
Virtual, Thursday 12 june 14.00-16.00.

Business Post, Sustainability in the Built Environment - Scaling the Decarbonisation of our Built Environment
One-day summit bringing together leading researchers, practitioners and policymakers to explore innovative strategies for reducing the carbon footprint of our built environment. Featuring strategies and solutions for scaling up building decarbonisation, our agenda will explore innovation, policy, technology, best practices and the challenges and opportunities ahead to drive meaningful progress.
In person, 17 June 2025, Croke Park.

Enterprise Northern Ireland, Funding for Growth: Transitioning Your Business to Net Zero
The third session in a three-part in-person series for Micro and Small Businesses, which also includes events on Accessing Debt Finance and Grant & Equity Finance, this session will cover the importance of net-zero in future-proofing your business, support available to help finance your transition to net-zero, and how small businesses are leading the charge to net-zero
In person, Thursday 26 June 2025, 9:30am to 1:30pm, Venue: Craigavon Industrial Development Organisation, Portadown, Cost: Free

Grant Thornton: CSRD – Where are we and what comes next?
Our expert panel will explore the implications of these changes on the Corporate Sustainability Reporting Directive (CSRD), how companies are adapting, and the evolving political landscape influencing ongoing negotiations.
In person, Grant Thornton, 13-18 City Quay, Thursday, 3 July, 9:30 - 11:30am

Dublin Chamber, International Roundtable on Circular Economy with ECOPath
The ECOPath Project supports SMEs in adopting Circular Economy practices to strengthen and implement their ESG performance. It equips SME staff with the knowledge and skills needed to reduce their company’s environmental impact through circular approaches. Join EcoPath Project and SMEs from Sweden, Germany, Spain, and Croatia to discuss these approaches, and the curriculum developed so far and have your say. The curriculum will look at: Applicable regulatory frameworks in relation to ESG and SMEs; Identify key principles of the ESG framework; Distinguish between the environmental, social and governance dimension of sustainable reporting; Compare the most common sustainability frameworks (incl. CE, ESRS, CSRD, SDG, CSR, ESG, GRI)
Virtual, Webinar, Wednesday 9 July, 10.00-11.30.

SEAI, Decarbonising Transport Conference and Exhibition
SEAI will hold their third annual Decarbonising Transport Conference and Exhibition on the 9th of September at Johnstown Estate, Enfield, County Meath.  If you work in, or are interested in transport, come along to find out the latest happening in this space and how leaders in the sector are tackling the challenge. Keep an eye on SEAI’s communication platforms as our speakers are introduced over the coming months
In person, Tuesday, 9 September, 2025

Sustainability Centre

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