In this week’s bulletin, read about the passage of Ireland’s Critical Infrastructure Bill, strong growth in renewable electricity—particularly solar—and the Central Bank’s assessment of domestic resilience amid rising inflation. Updates from Northern Ireland cover business growth, labour market trends, renewable energy growth, new air‑quality tools and progress in climate reporting. At EU level, new InvestEU financing and plans for a European Competitiveness Fund feature, alongside global investor calls to protect the EU ETS and major changes at CDP, as well as the usual resources, articles and events.
Ireland
Critical Infrastructure Bill passes both Houses of the Oireachtas
The Critical Infrastructure Bill 2026 has passed both Houses of the Oireachtas, moving from the Seanad this week to be signed into law by the President. You can find out more about infrastructure and Ireland’s economy, and the role of Chartered Accountants Ireland, here.
‘Remarkable progress on renewable electricity’ highlighted by Minister O’Brien
The country's solar capacity has reportedly increased by almost 300 percent since 2023, according to a report published by Solar Ireland. Commenting at Solar Ireland’s annual conference, Minister for Climate, Energy, and the Environment Darragh O’Brien, described the sector’s contribution to a secure, sustainable, and affordable energy future for generations to come, saying “Ireland is making remarkable progress in our renewable electricity acceleration. Across the country we are seeing renewable projects being delivered at scale, and communities participating in our energy transition. A rooftop revolution is underway, as households take up Government grant supports to install rooftop solar.”
Measures introduced by the Government to support solar deployment include the Microgeneration Support Scheme (MSS), the Small-Scale Renewable Electricity Support Scheme (SRESS), and the Renewable Electricity Support Scheme (RESS) which aim to help households, businesses, farms, and communities to participate in Ireland’s renewable electricity transition. Minister O’Brien has pledged that the grant for households installing rooftop solar panels, introduced in 2021 to encourage homes to install solar panels, will remain in place for the lifetime of the current government.
Central Bank’s bulletin notes ‘domestic resilience’ despite rising inflation
The Central Bank has published its second Quarterly Bulletin of 2026. Inflation forecasts have been revised upwards notably, to 3.5 per cent this year and 2.9 per cent in 2027, and weaker consumer spending is expected in 2026. Read more.
UK/Northern Ireland
Increase in number of businesses operating in Northern Ireland
The number of businesses operating in Northern Ireland increased by 1.9 percent over the year to March 2026, marking the twelfth consecutive year of increase following a period of decline from 2008 to 2014. This is according to the latest Northern Ireland Inter-Departmental Business Register (IDBR) statistics, which were released this week by the Northern Ireland Statistics & Research Agency (NISRA). Read more.
Wind remains dominant source of renewable electricity generation in Northern Ireland
The Energy in Northern Ireland 2026 report has been published, showing that renewable sources accounted for nearly half (47 percent) of total electricity consumption and half (50 percent) of all electricity generation. Wind remains the dominant source of renewable generation of electricity the region, accounting for 72 percent of total renewable generation volumes in 2025. Published biennially, the Energy in Northern Ireland report aims to provide a comprehensive and accessible overview of key statistics and information relating to energy in Northern Ireland.
DAERA launches pilot air pollution assessment tool
A free air pollution assessment tool, the UK Air Pollution Assessment Service (UK APAS), has been launched as a pilot in Northern Ireland. The tool aims to help the environment, save time, money and help reduce planning backlogs. Commenting, DAERA Minister Andrew Muir said: “Good air quality is vital for both our health and our environment hence the importance of finding and implementing new techniques or approaches to improve air quality”. The Minister went on to announce that the tool will provide robust scientific evidence for NIEA and the planning authorities to assess when considering new planning applications such as large strategic road networks. It can also be used as a design tool and to assess the benefits of any measures they are implementing to reduce emissions such as ammonia and nitrogen oxides.
Milestone achievement in Climate Change Reporting
The Department of Agriculture, Environment and Rural Affairs (DAERA) has marked the successful completion of the first reporting cycles under the Climate Change (Reporting Bodies) Regulations (Northern Ireland) 2024. Under the Regulations, specified public bodies are required to submit climate change reports to DAERA outlining their greenhouse gas emissions, mitigation actions they are taking to reduce their emissions, their climate risks and what they are doing to adapt to the impacts of climate change. These first reporting cycles have generated a comprehensive evidence base on emissions data, climate risks, and actions across the wider public sector in Northern Ireland creating a clear baseline for ongoing improvement. Commenting, DAERA Minister, Andrew Muir said: “The public sector has a crucial leadership role in responding to climate change, both within its own operations and in supporting the wider transition to a net zero, climate‑resilient Northern Ireland. The work undertaken through these reporting cycles has created a strong foundation for future progress and is already helping to embed climate considerations into organisational decision‑making and planning.”
Europe
Agreement to see at €22 billion in strategic financing under InvestEU
The European Commission and the European Investment Bank (EIB) Group have signed an agreement that adds €22 billion in strategic financing under the InvestEU programme, the EU’s flagship investment initiative.
The newly allocated funds will accelerate transformative investments in critical areas, including in clean and biotechnology innovations, driving sustainable growth and green transition, digital advancement, fostering competitiveness and technological sovereignty and high-potential start-ups and scale-ups, empowering the next generation of European entrepreneurs.
The expansion of the InvestEU programme aims to deliver benefits for SMEs, providing them with enhanced access to financing. In alignment with the Commission’s commitment to reducing administrative burden, all SMEs supported under InvestEU will also benefit from streamlined processes thereby ensuring faster, easier access to funding, along with reduced reporting requirements. These improvements aim to make InvestEU more efficient, accessible and responsive to evolving market needs and policy priorities.
Council of the EU agrees position on new and innovative fund to boost EU’s competitiveness
The Council of the European Union has adopted its partial negotiating position on the regulation establishing the new European Competitiveness Fund (ECF). The Fund, which is a central pillar of the next EU multi-annual budget (MFF), is designed to help address the EU’s innovation gap with its main global competitors. It aims to reduce dependencies and increase the overall competitiveness of the European economy. Under a single rulebook and a single application gateway, the Fund will channel EU investment to the strategic technologies and industries necessary for Europe to strengthen its global position, as well as drawing on private investment alongside public funding to maximise the impact of every euro. The Council’s position clarifies synergies with other EU funds such as Horizon Europe, with specific measures included for SMEs. It also introduces improvements to the original Commission proposal to strengthen the role of member states in the governance of the fund.
World
Investor coalition calls on EU leaders to maintain a ‘robust and predictable’ EU Emissions Trading Scheme
A coalition of 50 investors, collectively representing €13.4 trillion in assets, have called on EU leaders to support a ‘robust and predictable’ EU Emissions Trading System. In a letter written to EU leaders, the group of investors (the Institutional Investors Group on Climate Change) stated that “competitiveness, energy security, resilience and climate neutrality [are] mutually reinforcing goals for a strong European economy.” Read more.
CDP announces transformation into two separate organisations
CDP (formerly the Carbon Disclosure Project), the global environmental disclosure system, has announced that it will be transforming into two separate organizations: CDP, a commercial entity backed by global investment firm Permira, which will continue to provide environmental data and disclosure services to companies worldwide; and CDP Foundation, a charitable organisation that will drive the strategic principles for disclosure based on the latest environmental science.
For disclosers and data users, CDP insists that this means a more focused CDP with greater capacity to invest in the tools, data services and insights they rely on to assess risk, build resilience and inform sustainability strategy. The CDP Foundation will lead on “translating frontier science into action-ready disclosure methods”, informing the evolution of CDP’s question bank.
Resources
Reflecting climate risks in IFRS 9 disclosures
Senior finance professionals from the banking sector came together at an ICAEW event to discuss how climate risks are reflected in their expected credit loss reporting under IFRS 9. Find key takeaways here.
Climate, nature and markets
A Q&A with David Carlin and Naoko Ishii on aligning climate, nature and markets: why disclosure alone isn't enough and what needs to change to drive real business action on sustainability.
Report finds four in five UK businesses hit by climate disruption
A new report, From Risk to Reward: How UK Businesses are Building Resilience to Deliver Long-Term Value, on how UK businesses are responding to escalating climate risks and clean tech opportunities has found that the vast majority of businesses in the UK have experienced climate-related disruption over the past two years, with many reporting climate risks have negatively affected their commercial performance through higher costs across their operations and supply chains. Based on a survey conducted by research firm OnePoll between April and May this year, the report explores three key themes. Under the theme of Risk it finds that climate impacts are landing on balance sheets across every sector and every size of business. Under Resilience it reveals that a ‘dangerous nature blind spot’ is widening, with too many businesses failing to recognise that their operations depend on healthy natural systems to function. Finally, under the theme Reward is notes how sustainability is paying off, with businesses reducing emissions reporting measurable uplifts in revenue, brand image and operational efficiency.
Nature is our best air conditioning
Interview with Aleksandra Kazmierczak, EEA expert on Climate Change and Human Health on nature-based solutions help economies adapt to extreme heat and/or flooding events.
Articles
- Why is Scope 3 so complicated for financial services? (ICEAW Insights)
- Inside a push to build cleaner data centres without draining the grid (Business Post)
- Your AI habit is wasting precious resources. Here’s how to use it responsibly (The Conversation)
Events
Irish Green Building Council, Designing for Decarbonisation: Supporting High-Performance Project Delivery with EXEED
Explore how to close the “performance gap” that many projects face between their ambitious energy and carbon targets at design stage and the reality once buildings are operational. In this practical session, you will learn how the EXEED programme supports verified energy performance, why early-stage design decisions are critical to long-term outcomes, how a structured, data-driven approach reduces risk and improves delivery and lessons from Roadstone’s real-world experience
Virtual, 25 June 2026, 1:00 – 2:00 PM
UN Global Compact Network, Blended Finance as a Business Tool: What It Is, Why It Works and How to Start
Blended finance is emerging as an increasingly important tool for mobilising investment and scaling impact. This session, based on insights from the UN Global Compact CFO Coalition for the SDGs’ new Business-Led Blended Finance Playbook, explores how companies can move beyond being passive recipients of blended finance to becoming active participants in designing and leading transactions. Through expert guidance and real-world case studies from CFO Coalition participants, attendees will gain practical insight into how blended finance works, why it matters for business, and how companies can begin exploring opportunities within their own organisations.
30 June 2026 | 14:00 | 60 minutes
UN Global Compact Network, Women’s Empowerment Principles 101
Hosted by the UN Global Compact in collaboration with UN Women, this introductory session provides an overview of the Women’s Empowerment Principles (WEPs) and how they offer a practical framework for companies to advance gender equality in the workplace, marketplace, and community. Speakers will provide practical guidance on implementation and share insights into the business benefits of advancing gender equality. Participants will have the opportunity to engage with experts and learn best practices for supporting women’s empowerment within their organisations. Live translation available in Spanish, French and Portuguese.
2 July 2026 | 14:30 | 60 minutes
UN Global Compact Network, The New Net Zero Standard: What It Is, What’s Changed and What It Means for Companies
The Science Based Targets initiative (SBTi) has released its updated draft of Corporate Net-Zero Standard Version 2, changing how companies worldwide will set and manage climate targets. This first session in a two-part series, delivered by the UN Global Compact Academy in partnership with SBTi, equips companies with everything they need to understand the new standard.
7 July 2026 | 14:00 IST / 9:00 ET | 60 minutes
UN Global Compact Network, Adjusting to Version 2 in Practice: What Implementation Actually Looks Like
Building on the first session, this second instalment provides a step-by-step walkthrough of what adopting and implementing Net-Zero Standard Version 2 actually looks like in practice — including critical dates and deadlines, and how to plan your transition before Version 1 is phased out.
9 July 2026 | 14:00 IST / 9:00 ET | 60 minutes
Sustainability Centre
You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.
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