In this week’s Sustainability/ESG Bulletin read about the Central Bank of Ireland Governor’s speech about domestic economic policy priorities, ISIF’s commitment of €75m to expand battery storage supporting the electricity grid, and new studies showing Ireland’s strong hydrogen export potential and continued progress in renewable energy. Funding was awarded to circular economy projects, and research revealed Ireland’s significant gender gap in advanced digital skills. Northern Ireland advanced plans for a Just Transition Commission and launched funding for co‑operatives. Europe introduced a new carbon removal certification standard, while a global biodiversity report warned of rising risks to businesses. This, plus the latest articles, technical content, resources and upcoming events.
CHARTERED ACCOUNTANTS IRELAND
Chartered Accountants Ireland is partnering with the Institute of Chartered Accountants Scotland (ICAS) to host a webinar on Thursday 12 March: Carbon Border Adjustment Mechanism: What you need to know. Learn how CBAM currently operates and what its implementation is revealing in practice. Register here to attend.
IRELAND
‘Reinforcing Resilience, Responding to Change’: Central Bank Governor’s speech on ‘adapting to the economy of the future’
In a speech outlining priorities for 2026, Central Bank of Ireland Governor Gabriel Makhlouf has advised that domestic economic policy should focus on priorities that maintain, build and broaden the resilience of the State, its economy and its financial sector. The speech, given to the EU Heads of Missions, this week, identified priorities including growing the supply side capacity of the economy, in particular infrastructure which is a current constraint on sustainable growth; strengthening the indigenous business sector and enhancing the economy’s resilience; continuing to build fiscal buffers and greater retail participation in financial markets; and developing a new set of multilateral trading rules that deliver certainty and stability needed by economies and businesses.
Quoting Jean Monnet on Europe’s tendency to progress through times of crisis, Governor Makhlour said: “Europe will be forged in crises and will be the sum of the solutions found to those crises”, and pointed to the need for greater development and adoption of technology, as well as continuing to focus on the transition to a net zero world in order to adapt to the economy of the future.
ISIF commits up to €75m to new fund supporting Ireland’s energy grid
The Ireland Strategic Investment Fund (ISIF) has announced a commitment of up to €75m to a new Gore Street Capital (GSC) fund, an alternative asset manager in the energy storage infrastructure sector with 1.4GW of battery assets under management. The new fund will invest in battery energy storage projects aimed at supporting Ireland’s energy grid by enhancing flexibility, supporting renewable integration, and improving energy security. ISIF’s commitment, as part of its €2bn climate investment programme, will see GSC acquire primarily greenfield battery energy storage projects from developers; procure and construct the projects; and then own and operate the assets for a period in line with the GSEU fund’s ten-year life.
Irelands’ potential to export hydrogen
The Government has published Exporting Hydrogen from Ireland, a study exploring the potential to export hydrogen from Ireland. The study was commissioned in April 2025 by the Department of Climate, Energy and the Environment to assess the potential for connecting future Irish hydrogen infrastructure with continental Europe. It was commissioned under the 2023 National Hydrogen Strategy which aims to decarbonise our economy, enhance our energy security, and develop industrial opportunities. The study finds that Ireland’s hydrogen production potential is much larger than the expected domestic demand, and provides practical, technical and commercial information to assist future hydrogen policy development.
Ireland’s renewable energy “critically important to competitiveness, security and decarbonisation”
The Government has highlighted progress in Ireland renewable electricity in 2025. Progress included the Small-Scale Renewable Electricity Support Scheme (SRESS) offering communities, farmers, small businesses, and others an opportunity to generate income through solar and wind projects of up to 6MW, as well as rapid growth of Ireland’s solar energy sector. Also noted was the investment of €3.5 billion in Ireland's electricity infrastructure across, and the publication of the general scheme for Private Wires to unlock private sector investment in renewables infrastructure. Commenting, Minister for Climate, Energy and the Environment Darragh O'Brien described renewable electricity as “a critically important part of this government's commitment to competitiveness, security, decarbonisation and quality of life.”
Circular economy and industrial competitiveness
Funding of €650,000 has been announced for 14 projects across Ireland under the fourth Circular Economy Innovation Grant Scheme (CEIGS). The funding provides financial support to projects that are working on innovative and scalable solutions to advance Ireland’s transition to a circular economy – an economy where resources are reused, waste is minimised and sustainability is at the core of production and consumption. Separately, the EU is planning the Circular Economy Act (from Q3 2026) explicitly to boost competitiveness and industrial resilience, double circular material use to 24 percent by 2030 and cut import reliance. The European Commission has also just adopted new measures under the Ecodesign for Sustainable Products Regulation (ESPR). Companies will be required to disclose information on the unsold consumer products they discard as waste, and prohibited from destroying unsold apparel, clothing accessories and footwear.
Failing to utilise women’s advanced digital capability a constraint on growth
New research published by the ESRI has found that men in Ireland are over twice as likely as women to use advanced digital skills at work. The research, titled Squandered skills? Bridging the digital gender skills gap for inclusive growth in Ireland – A comparative European perspective, was published jointly with Block W – a female-led network to close the gender gap in the uptake of blockchain technologies amongst women. It found that Ireland has Europe’s largest gender gap in advanced digital skills use at work, raising concerns about the underutilisation of women’s digital skills, despite Ireland’s strong tech sector and high levels of educational attainment. Commenting, Professor Joyce O'Connor, Co-Founder and Chair of Block W, described the potential implications for Ireland: “Competitiveness, innovation and resilience depend not only on investment and infrastructure, but on what happens inside workplaces…. In an economy facing skills shortages, failing to fully utilise women’s advanced digital capability is an avoidable constraint on growth.”
Northern Ireland/UK
BITC NI opens entries for 2026 Responsible Business Awards
Business in the Community Northern Ireland (BITC NI) has opened entries for the 2026 Responsible Business Awards in Northern Ireland, celebrating organisations that lead the way in responsible and sustainable business practice. The Awards reward and recognise businesses large and small and from every sector who go beyond profit and take real action to support communities, show leadership, and tackle social and environmental challenges. More details are available on the BITC NI website, and closing date for entries is 1 May 2026.
Regulations to establish climate change Just Transition Commission progress
Minister Andrew Muir MLA has confirmed he will be bringing draft Regulations soon to establish a climate change Just Transition Commission to the Committee for Agriculture, Environment and Rural Affairs and the Assembly for scrutiny and debate. The draft regulations follow an extensive 10-week consultation, during which the Department sought views on the structure and make-up of the Commission, including whether additional sectors should be represented to those specified for representation in the Climate Change Act (NI). Section 37 of The Climate Change Act (Northern Ireland) 2022 (the Act) requires that DAERA, by regulations, establish an independent Just Transition Commission. Just Transition Commissions have been established by the Scottish and Irish Governments to oversee their administrations’ low carbon transition.
Archibald launches £30,000 funding to support growth of co-operatives
Northern Ireland Economy Minister Dr Caoimhe Archibald is inviting proposals to support the growth and development of co-operatives across the north. The £30,000 open call for proposals aims to unlock the potential of the wider social economy to deliver good jobs, strengthen regional balance, and support more resilient local communities. It invites proposals that will increase awareness and understanding of the co-operative model, provide practical support and infrastructure to help new and existing co-operatives grow and support co-operatives to develop new opportunities or enter new markets, helping them play a larger role in local economic development, decarbonisation activity, and community-led regeneration. Full details on how to apply, including eligibility criteria and supporting documents, are available at Co operative Support Open Call.
EUROPE
EU sets world’s first voluntary standard for permanent carbon removals
The European Commission has adopted the first set of methodologies under the Carbon Removals and Carbon Farming (CRCF) Regulation to certify activities that permanently remove CO2 from the atmosphere. The EU’s goal in adopting these voluntary certification methodologies is to set clear rules and create new opportunities for climate innovation, investments in carbon removal technologies and addressing greenwashing. It also intends to provide clarity for companies and investors and helps to create an emerging market for both innovative start-ups and a major EU bioeconomy. The new rules cover three types of permanent carbon removal activities, selected for their technological maturity and potential contribution to the EU’s climate objectives. These are direct air capture with carbon storage (‘DACCS’), biogenic emissions capture with carbon storage (‘BioCCS’), and biochar carbon removal (‘BCR’). The delegated Regulation will now be transmitted to the European Parliament and the Council of the EU for a two-month scrutiny period, after which, if there are no objections, it is expected to be published in the Official Journal in early April, with entry into force 20 days thereafter.
WORLD
Businesses risk extinction due to dependencies on ever-decreasing natural resources
A global report has found that businesses are central to halting and reversing biodiversity loss, but that many often lack information to address their impacts and dependencies, as well as the risks and opportunities relating to biodiversity and nature’s contributions to people. The report, which was approved by representatives of the more than 150 member Governments of the Intergovernmental Platform on Biodiversity and Ecosystem Services (IPBES) and colloquially known known as the ‘Business and Biodiversity Report’, finds that businesses often bear little or no financial cost for their negative impacts and many cannot currently generate revenue from positive impacts on biodiversity. The report stressed that collaboration, collective and individual actions are essential to create an enabling environment where businesses contribute to a just and sustainable future. It provided more than 100 specific examples of concrete actions that can be taken by businesses, governments, financial actors and civil society.
TECHNICAL ROUNDUP
(From our colleagues in Professional Accounting on 6 February)
Accountancy Europe has issued two factsheets regarding the Omnibus Directive outlining the changes occurring following the amendments of the CSRD and CSDDD.
EFRAG has launched a series of educational videos to support SMEs in complying with the VSME disclosure requirements, and continues to add new material to the VSME Ecosystem which contains useful guides, templates, videos and case studies.
EFRAG has released a report from its conference “EFRAG unveils Draft Simplified ESRS: A European Milestone for Sustainability Reporting”.
The Financial Conduct Authority has issued a consultation ‘CP26/5: Aligning listed issuers’ sustainability disclosures with international standards’.
The Department of Business and Trade (UK) (DBT) has published the outcome of its consultation on proposals for an oversight regime for assurance of sustainability-related financial disclosures.
The European Commission updated its request to CEAOB on limited assurance sustainability standards
IAASA has released a new episode of its Insights podcast on Ireland’s first year of CSRD reporting.
The Global Reporting Initiative (GRI) has released a new case study series entitled “ESG Reporting in Action”, which examines at how licensed tools and software are helping companies manage sustainability data. GRI has also issued its quarterly standards update.
The International Sustainability Standards Board (ISSB) has issued its January 2026 update and podcast.
RESOURCES
Just Transition a catalyst for growth, innovation and long-term competitiveness
UK-based global think-tank the Institute for Human Rights and Business has published a series of case studies in a report to demonstrated that the ‘just transition’ is a catalyst for growth, innovation, and long-term competitiveness. Describing the decarbonisation of the global economy as “the greatest economic shift of our age”, the report, titled Making just transitions work - lessons for business leaders, notes how the transition is already shaping business access to capital, workforce availability, policy alignment, and long-term competitiveness. In publishing the case studies, the report aims to address what it describes as one of the biggest challenges businesses face in implementing a just transition: the lack of real-world examples to guide them.
The societal impacts of AI – A business leadership perspective
Business in the Community Ireland has published insights from CEOs and thought leaders convened to examine how organisations are approaching AI’s broader implications, and whether the societal impacts of AI have entered the discussion on inclusive, responsible and sustainable business. The insights highlight both opportunity and risk, and find that companies grounded in inclusion and sustainability are best positioned to navigate challenges. A significant opportunity exists for businesses to thrive with AI; however, a clear message is that “embedding societal responsibility must be central to this competitiveness agenda”.
ARTICLES
Environmental breakdown isn’t a distant possibility – it’s a threat to world stability
The message is clear: climate change should be prioritised as a security crisis, not just an environmental one (The Irish Times)
Plan for state-backed scheme to insure businesses at risk of flooding (Business Post)
Sustainability disclosures by listed companies set to evolve (ICAEW Insights)
Suppliers are drowning in esg requests coming into 2026 (ESG News)
How AI is powering the energy transition – from smart grids to fusion (Reuters)
Time for professional services to phase out fossil fuel clients (Sustainable Works – Subscription needed)
EVENTS
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
Enterprise Ireland, Sustainability Kickstarter Workshops
A half‑day workshop series designed to support business leaders in recognising the strategic importance of sustainability and decarbonisation. The sessions provide practical skills to integrate core sustainability principles, identify competitive opportunities, and build actionable plans to meet rising customer expectations for sustainable products and services. Workshops | Dates & Times
• Friday, 27 February 2026 | Half‑day workshop
• Friday, 20 March 2026 | Half‑day workshop
• Friday, 17 April 2026 | Half‑day workshop
• Friday, 8 May 2026 | Half‑day workshop
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
Pentland Centre for Sustainability in Business - Lancaster University, What Does ‘Good’ Look Like in Corporate Reporting?
The final session in the Pentland Centre’s free webinar series for SMEs explores what effective reporting on nature and biodiversity looks like. Drawing on global examples, this webinar highlights best practices and practical approaches for integrating nature and biodiversity into corporate reporting.
Virtual, Thursday 12 March 2026, 8:00am – 9:00am | 4.00pm – 5.00pm
Sustainability Centre
You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.