Sustainability/ESG Bulletin, Friday 14 November 2025

In this week’s Sustainability/ESG Bulletin, read about COP30, the Eco-Management and Audit Scheme, Bank of Ireland’s green bond sale, the continued rise in global demand for green skills, calls for faster action as Ireland overshoots its first carbon budget targets and proposals for the future of environmental governance in Northern Ireland. Also covered is the adoption by the European Parliament of its negotiating position on sustainability reporting and due diligence duties for businesses and on the EU Climate Law, as well as calls for an ambitious gender equality strategy, and the OECD’s reports on effective carbon rates and global corporate sustainability. We also bring you the latest articles, jobs and upcoming events.

IRELAND

COP30  – a focus on implementation

COP30 – the 2025 global climate summit – is underway this week. Running until 21 November, with world leaders, policy-makers, diplomats and activists converging on Belém, Brazil, the summit will discuss the world’s action on tackling climate change.

The most significant event on the global climate calendar, the summit’s focus this year is on implementation. The summit’s theme of “readiness and resilience” will emphasise adaptation, infrastructure, local governments, circular economy, and water/waste systems. Nature-based solutions and forests will also feature prominently, particularly as Belém is located at the mouth of the Amazon rainforest,. The topic of mobilising finance will be key part of the summit also

Minister Darragh O’Brien TD will lead Ireland’s National Climate Delegation for the political negotiations. The Delegation is made up of officials from across Government and a number of agencies.  At next year’s COP31, Ireland will lead the EU's negotiations as it will hold the EU presidency. 

You can check Chartered Accountants Ireland COP30 coverage and resources on its Sustainability Centre.

NDP Sectoral Capital Plan for 2026-2030 publishes

The Sectoral Capital Plan for 2026-2030 for the Department of Climate, Energy and the Environment has been published, aligned with the goals, objectives and actions of the Department of Climate, Energy and the Environment's new Statement of Strategy, Le Chéile 28 (published in September). The plan will support investment of over €5.6 billion by the department in key government priorities, such as in the energy, climate and circular economy sectors over the next five years. Key priorities include meeting the commitments in the Programme for Government to allocate a share of annual carbon tax proceeds for investment in energy efficiency programmes, continuing sustained action to tackle the climate crisis and to decarbonise the economy, delivering the energy infrastructure required to sustain a growing economy, improving our competitiveness and promoting a circular economy.

Eco-Management and Audit Scheme (EMAS)

The Department of Climate, Energy and the Environment has published information on the Eco-Management and Audit Scheme (EMAS), an environmental management tool from the European Union granted to organisations that have made efforts in enhancing their environmental performance.  Recognised internationally as a certification in the world of sustainability, transparent public reporting and legal compliance, EMAS certification requires an organisation to examine the impact it has on the environment, to plan on how to improve in the future and to then check the progress and publish a statement on its green performance after externally verifying it by an accredited auditor.

Strong investor demand as Bank of Ireland raises €750 million from green bond sale

Bank of Ireland has raised €750 million from its second green bond issuance of the year to finance more climate action projects in renewable energy and green buildings. Orders exceeded €2.6 billion with participation from over 140 investors globally. This year, Bank of Ireland completed its largest green energy investment to date, financed its first solar power project, and expanded its Enviroflex sustainability-linked loans – originally available to the dairy sector – to include tillage farmers.  Bank of Ireland’s sustainability-related lending grew to €16.5 billion at the end of September 2025, achieving and exceeding its end-2025 target of €15 billion ahead of schedule. The Bank is targeting €30 billion in sustainability-related lending to households and businesses by 2030.

Report finds that global demand for green skills exceeds supply

A Labour Market Pulse Report from Microsoft, LinkedIn and Ireland's Industrial Development Agency (IDA) has found that demand for green skills in Ireland has grown at twice the global rate between 2021–2024, and that, globally, demand currently exceeds supply. The report also suggests that green jobs will outnumber qualified workers two to one by 2050.  In addition to workers with technical skills (e.g. engineers with expertise in battery storage, grid integration and offshore wind), managers with knowledge of carbon accounting, environmental compliance, and sustainable supply chains are also highly sought after across sectors.

EU awards €3.5 million to two projects to accelerate Ireland’s clean energy transition

The European Commission has granted almost €3.5 million to two Irish projects, HERO and BUSUnited, under the 2024 EU LIFE Programme to accelerate Ireland’s clean energy transition. The projects will focus on expanding home energy renovation services and tackling skills shortages in the construction sector. The LIFE Programme is the EU’s funding instrument for the environment, climate action and clean energy. For the 2021–2027 period it has a budget of approximately €5.432 billion. Most projects receive between €1 million and €5 million in co-financing, with higher amounts available for larger integrated projects.

Climate Change Advisory Council calls for faster action

The Climate Change Advisory Council (CCAC) has reported that Ireland has failed to achieve the targeted emission reductions during the first Carbon Budget period (2021-2025), with an overshoot of approximately 10 Mt CO2eq. This overshoot, the CCAC warns, will need to be paid back in the next Carbon Budget period (2026-2030) making it increasingly difficult to achieve. Transport was singled out as a particularly emissions-intensive sector. The Council emphasised the critical role that Local Authorities play in driving climate action at community level, as well as the significant opportunity that Ireland has to invest in households, communities and businesses, rather than paying punitive compliance costs estimated to be up to €26bn for failing to meet EU targets. Ahead of Ireland’s Presidency of the European Union, the Council has urged the Government to fully integrate all climate and energy-related EU directives into Irish law within the legally binding time limit.

NORTHERN IRELAND/UK

Proposals set out for future of environmental governance in Northern Ireland

Department of Agriculture, Environment and Rural Affairs (DAERA) Minister Andrew Muir is seeking agreement for the establishment of an independent Environmental Protection Agency in Northern Ireland following publication of an expert independent panel report. The body, which would be overseen by an independent board led by a non-executive chair, would have full operational independence and would allow for better and more accountable environmental protection and regulation. Commenting Minister Muir said, “The costs of inaction are simply too great, we should look no further than Lough Neagh or the illegal dump at Mobuoy which, as you will know, could cost hundreds of millions of pounds to resolve. Restoring trust and confidence in environmental protection is crucial for the economy and for our communities. Better and more accountable regulation will create a fair and level playing field for all.”

EUROPE

European Parliament adopts negotiating position on simplified sustainability reporting and due diligence duties for businesses

The European Parliament has adopted its negotiating position on simplified sustainability reporting and due diligence duties for businesses. The MEPs voted that only businesses employing on average over 1,750 employees and with a net annual turnover of over €450 million should have to carry out reporting under the CSRD. Only businesses within this scope would also be required to provide sustainability reporting under taxonomy rules (i.e. a classification of sustainable investments).

Reporting standards would be further simplified and reduced, requiring fewer qualitative details, and sector-specific reporting would become voluntary. Smaller companies would be protected from the reporting requirements arising from relationships with their larger business partners, which would not be allowed to request more information than what is set out in the voluntary standards.

MEPs also voted for due diligence requirements to apply only to large corporations with more than 5,000 employees and a net annual turnover of over €1.5 billion. MEPs want these businesses “to adopt a risk-based approach to monitoring and identifying their negative impact on people and the planet.” These companies would no longer need to prepare a transition plan to make their business model compatible with the Paris Agreement and could face fines for not complying with due diligence requirements, the guidance on which will be provided by the Commission and Member States. Offending firms would be liable at the national rather than EU level and would have to fully compensate their victims for damages.

Negotiations with EU governments, which have already adopted their position on the file, will start on 18 November, with the aim of finalising the legislation by the end of 2025.

European Parliament calls for ambitious gender equality strategy

The European Parliament has called on the European Commission to present an ambitious 2026–2030 gender equality strategy, with concrete legislative and non-legislative measures in key areas.  MEPs are calling, among other things, for gender-based violence to be an EU crime, for EU equality legislation to be implemented in full, for safe and legal abortion care to be a fundamental right, and for a consent-based definition of rape in EU legislation.

MEPs adopts position on EU Climate Law

The European Parliament has adopted its position on the Commission’s proposal for an amendment to the EU Climate Law, setting a new, intermediate and binding 2040 EU climate target of reducing net greenhouse gas (GHG) emissions by 90 percent compared to 1990 levels.  The Parliament will now start negotiations with Member States on the final shape of the law.

Agreement reached on single EU methodology for calculating transport emissions

EU Parliament and Council negotiators have agreed on a single EU methodology for calculating greenhouse gas (GHG) emissions from transport services. Under the preliminary agreement, the new rules will make it easier to compare the environmental performance of different transport modes across the EU, helping consumers and businesses make informed choices and reducing the risk of greenwashing. While the new rules will not oblige transport companies to calculate their GHG emissions, if they choose to do so (for instance for reporting, contractual or marketing purposes), or when required by other EU rules, they will be obliged to apply the common EU methodology.

Accountancy Europe responds to EFRAG’S VSME market acceptance survey

Accountancy Europe has responded to the VSME market acceptance survey, launched on 2 October by EFRAG, the group that advises the European Commission on financial and sustainability reporting. The survey aimed to assess the current level of awareness, use and acceptance of the VSME standard. In its response, Accountancy Europe identified free-to-use full reporting software at a national level as being helpful for SMEs, and recommended that more awareness raising/promotional activities at the national level directed at both preparers and users could help foster the market acceptance of the VSME.

Public hearing on "Clean industrial deal and Energy Taxation Directive"

The Subcommittee on Tax Matters (FISC) will hold a public hearing entitled “Tax aspects of the clean industrial deal and the revision of the energy taxation directive” on 20 November 2025. The aim of the hearing is to understand how the taxation measures taken to support the EU’s decarbonisation goals in the Clean Industry Deal can affect the taxation of energy and the current negotiations on the revised Energy Taxation Directive. In particular, the implementation of energy taxes that support electrification and avoid incentivising the use of fossil fuels will be under the spotlight.

WORLD

OECD reports on effective carbon rates and global corporate sustainability

The OECD has published a report Effective Carbon Rates 2025: Recent Trends in Taxes on Energy Use and Carbon Pricing as part of its series on Carbon Pricing and Energy Taxation. The report presents 2023 data on how countries are using carbon taxes, emissions trading systems and fuel excise taxes, with selected updates through 2025. Covering 79 countries that together account for 82 percent of global greenhouse gas emissions, the report places particular emphasis on emissions trading systems, and takes stock of recent policy developments, offering policymakers, stakeholders and analysts a reliable point of reference and a basis for policy reform enquiries.

Separately the OECD has published its Global Corporate Sustainability Report 2025, providing insights on how companies are implementing the sustainability-related recommendations of the G20/OECD Principles of Corporate Governance. These recommendations cover disclosure, shareholder-company dialogue, board responsibilities, and stakeholder engagement. This edition features an in-depth analysis of the energy sector, assessing emission reduction targets, executive compensation, and capital expenditures and investments in green research and development.

IFAC seeks volunteer members

The Nominating Committee of the International Federation of Accountants (IFAC) has launched a global search for volunteer members to serve on the International Public Sector Accounting Standards Board (IPSASB), an independent standard-setting body that develops and maintains accrual-based International Public Sector Accounting Standards (IPSAS), IPSASB Sustainability Reporting Standards (IPSASB SRS), and other high-quality reporting guidance for use by governments and public sector entities worldwide. The Nominating Committee is seeking nominations from a wide range of relevant backgrounds and experience, such as strong knowledge of financial or sustainability reporting issues. The deadline for submitting applications is January 31, 2026 and the Call for Nominations has more details and information on how to submit an application.

Nature Action 100 releases its first status report showcasing initiative progress and investor insights

Articles

• ISSB to Develop Standards for Nature-Related Reporting (ESG Today)
• TNFD to Pause New Work After ISSB Takes Over Nature Reporting Standard Setting (ESG Today)
• No, Bill Gates, we don’t have to choose between people & planet (commentary) (Mongabay)
• What the booming net zero sector means for accountants (ICAEW Insights)
• Young female workers paid 31% less than male counterparts (Irish Examiner)
• Hybrid working could help get more disabled people into work, peers say (The Guardian)
• EU to hit Chinese retailers like Shein and Temu with customs duties (The Journal)
• Fossil fuel dependence ‘is Ireland’s biggest block’ to achieving carbon emissions cuts - ‘Expensive’ fossil fuels subsidised by €4.7bn of taxpayers’ money as Climate Change Advisory Council warns over ‘harmful use’ (Irish Times)
• Limits of heavy-load transport will hit electricity supplies, hauliers warn (Irish Times)

Jobs

Technical Roundup

(From our colleagues in Professional Accounting)

• Following on from its “VSME in Action” event held on 6 October, EFRAG have released a summary of the event containing an event report, recordings and slides.
• Following its recent response to EFRAG’s Exposure Draft on the amended European Sustainability Reporting Standards, Accountancy Europe has shared some of its thoughts and key suggestions in relation to the proposed amendments.
• The International Sustainability Standards Board (ISSB) has issued its October 2025 update.
• Following the rejection of the simplified rules for sustainability reporting and due diligence obligations in the EU Parliament on 22 October, MEP’s will again vote on amendments at the upcoming Plenary Session on 13 November.

Events

Department of Enterprise, Trade and Employment, Responsible Business Compass
This kick-off event, developed with the OECD and funded by the European Commission, will explore the evolving responsible business regulatory landscape and introduce the Responsible Business Compass — a tool designed to help businesses, especially SMEs, better understand their obligations and reduce administrative burden.
In-person, 19 November 2025, 9:30am–5:00pm (registration and networking from 9:00am), 15 George’s Quay, Dublin 2

iQuest / Business Post Live, ESG Summit Autumn 2025
This ESG Summit will explore how sustainability is becoming central to business strategy. With a focus on regulatory shifts, climate transition planning, ESG data governance, and nature-positive outcomes, the event brings together business leaders, policymakers, and sustainability professionals to share insights and practical strategies.
In-person, 20 November 2025, 8:45am–5:00pm, Croke Park, Dublin

Business in the Community Ireland, Launch of Ireland’s First Climate Transition Plan Scorecard
BITCI, in partnership with DCU Institute for Climate and Society, will launch Ireland’s first Climate Transition Plan Scorecard. The Scorecard assesses corporate climate plans across nine key areas and is part of BITCI’s Accelerate campaign.
In-person, 20 November 2025, 3:00pm–4:00pm (wine reception until 5:00pm), Sky Suite, Radisson Blu, Golden Lane, Dublin 8

Chartered Accountants Ireland, Network for Chartered Accountants working in ESG
This informal network offers Chartered Accountants working in ESG/Sustainability a space to connect, share insights, and discuss challenges and opportunities in the field. Members working on ESG-related projects are encouraged to join and contribute to the conversation.
Online, 19 November 2025, 2:00pm–3:00pm, Email sustainability@charteredaccountants.ie to join

IBEC, Preparing for Severe Weather Events
Severe weather conditions can cause major disruption to roads, bus or train infrastructure and therefore, the operation of your business. In this webinar, Dr. Michael Gillen, Head of OSH Policy will review the key points to consider, practical steps and control measures you can put in place.
Virtual, 26 November 11:00 - 11:45

InterTradeIreland, Trade Series: Understanding ESG & Sustainability
This free webinar will help businesses understand ESG principles, sustainability strategies, and practical steps for compliance and growth. It will cover reporting requirements, risk management, and opportunities for SMEs. Gain practical insights into how ESG and sustainability practices can help your business remain competitive, compliant, and future-ready, as well as an overview of emerging ESG and Sustainability reporting requirements.
Online, Wednesday 26 November 2025, 11:00am–12:30pm

EY, Four Futures: Exploring Climate Scenarios
This immersive workshop invites people to step into the year 2055 and explore four distinct climate scenarios—Business As Usual, Transform, Constrain, and Collapse. Enhanced by the CCaSS team, this updated iteration incorporates the latest insights on climate impacts in Ireland. Participants will dive deeper into key drivers of climate change and examine how Business As Usual and Transform scenarios affect society, business, and the economy.
EY Offices, Harcourt Street, Dublin, , D02 YA40, Friday 28 November – Friday 5 December 2025

Pentland Centre for Sustainability in Business - Lancaster University,  SMEs - Learning about Nature and Biodiversity
This is the first in a series of three free webinars from the Pentland Centre for Sustainability in Business aimed at SMEs curious about nature and biodiversity links to business activity. This session provides a natural science introduction to ecosystems and explains how these aspects impact business operations, with examples from different sectors.
Virtual, Thursday 15 January 2026, 8:00am – 9:00am | 4.00pm – 5.00pm

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 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.