Martina Goss, FCA, continues to broaden her skill set to support sustainable entrepreneurship and ESG progress in Ireland and beyond Martina Goss, FCA, is leveraging her financial knowledge and expertise in business strategy and lean methodologies to help start-ups and SMEs succeed, innovate and build sustainable strategies aligned with Ireland’s climate goals. Here, she tells Accountancy Ireland about the career path that has seen her pivot from finance to supporting Ireland’s entrepreneurial community and more besides.  Q. What first sparked your interest in sustainability and the whole area of environmental, social and governance?  I have always had a love of nature. I grew up in rural Ireland and, today, I live in the countryside in Co. Louth surrounded by mountains, nature and wildlife.  A few years ago, I pivoted my career away from pure finance to what I do now, offering training and business coaching to start-ups and small and medium-sized enterprises (SMEs). That shift brought me into contact with the United Nations’ Sustainable Development Goals and the entrepreneurs doing amazing things on the ground to progress these goals. I look at environmental, social and governance (ESG) principles in a holistic way. I’m not just interested in nature and climate change, but also in the human aspect—the ‘S’ in ‘ESG’ and, in particular, the focus of the fourth UN SDG on ensuring inclusive, equitable and quality education and promoting lifelong learning opportunities for all. To this end, I began working in 2023 as a facilitator with Global Youth Forum, a non-profit in Kenya that offers life-skills coaching, mentoring and sports programmes to young people with the aim of equipping them with the skills to improve their lives by securing a job or starting a business. Q. Tell us about that career pivot: what prompted it?  I started my career in practice before transitioning into industry where I held financial roles in many different organisations.  Then, in 2015, I did Chartered Accountants Ireland’s first ever Diploma in Strategic Finance and Business Analytics. That was the turning point for me.  By complete chance, while I was looking for a project for the course, I met an entrepreneur who was taking part in New Frontiers, Enterprise Ireland’s national entrepreneur development programme. He had a sustainable business idea for flood defence and wanted support from someone with a business background. I needed an idea for my diploma, so we did this match transaction.  At that stage, I knew I wanted to move beyond focusing solely on the numbers of a business. Fast forward a few years and I became the programme manager of New Frontiers at both Dundalk Institute of Technology and Invent, DCU’s commercialisation and technology transfer unit. Whilst managing that programme, I was introduced, not just to the world of start-ups and innovation but also entrepreneurs building sustainable businesses in alignment with the UN’s SDGs. Later, I reskilled as a Lean Start Up Coach, training with Ash Maurya, the founder of Leanstack in the US. He is the author and creator of the Lean Canvas, a business modelling tool used by businesses worldwide. Q. Can you describe the work you do today and the services you offer?  I work predominantly with start-ups and SMEs, helping them with their business strategy, reimagining their business models and innovating in a sustainable manner, so they can successfully launch or reinvent products and services. My work combines my expertise as a Chartered Accountant and Lean Start-up Coach and increasingly incorporates ESG. Last year, I completed my second course with Chartered Accountants Ireland, this time a certificate in sustainability strategy, risk and reporting. Innovation is a big focus for many of my clients. They understand the world is rapidly changing and they know they need to reassess their business model, but they may feel a little stuck or challenged as to where to start.  They may have new products or services they want to launch, or they might want to adapt what they are already doing to changing customer needs and market trends.  At the forefront of my work is the idea that you must always listen to the market—to what your customers want and the problem you solve for them.   We do a deep dive into their business model. We look at why the company exists—what problem does it solve for customers? What is its vision? What are its goals and strategy to compete?  We look at trends in the marketplace, we talk to the company’s customers and stakeholders. We use that information, both qualitative and quantitative, to reimagine the company’s business model and its products and services. The aim is to create a business model that is financially viable, desirable for its customers and sustainable for the planet.  Q. Where does ESG come into the work you do with these companies?  It comes back to that critical piece in any business strategy—listening to the market trends and responding to customer needs. Developing new products and services is the perfect opportunity to blend sustainability and innovation together into one. More people today are thinking about sustainable products and sustainable business practices because they are concerned about the climate crisis and the need to decarbonise our economies. This is a market trend, so, by embedding sustainable practices into their strategy and operations, start-ups and SMEs can help to ensure long term viability. There is a cost involved at the outset, but it is worth mentioning that, by incorporating Lean practices into their business model, businesses can eliminate costly waste. There is often so much waste in organisations. Lean start-up principles, when applied to new product development, can have a considerable ESG impact on a business because they fundamentally seek to minimise waste.  Q. What would you like to see happen now to support the advancement of ESG in Ireland and beyond?  From my perspective working with businesses, I think what is required to galvanise the ESG movement is a change in mindset. Businesses are run by people, so the shift in mindset is down to the individual—to each and every one of us.  This starts with small changes in our personal lives where we can embrace a more minimalist way of living, consume less and cut down on the excess in our lives. We buy too much. We have too much waste.  The Sustainable Progress Index 2025, published in February by Social Justice Ireland, ranked Ireland ninth out of 14 comparable EU countries overall, but placed us in the bottom five for nine SDGs, including responsible consumption and production (SDG 12). According to Social Justice Ireland, we continue to generate a significant amount of municipal waste per capita, while the recycling rate of our municipal waste and circular material use is low. So, I think we all need to think about our own consumption, and about what we can do to cut down on the waste we generate.  I believe that, if each one of us was just one percent better, the collective impact would be massive. These changes at an individual level can then feed into new businesses and start-ups launched by people with ESG principles at their core, in terms of what they are bringing to market or how their businesses operate with sustainability, minimal waste and other societal benefits at their core.  Critically, as Chartered Accountants, we have quite a vast skill set we can apply to helping businesses delivering ESG benefits. For younger generations, ESG is already instilled in their mindset. They care about the future of the planet, about climate change and a fair and just society.  Businesses today can’t afford to overlook this fundamental shift in what people and the market wants.  Real change comes when you believe in it and work towards it. 

Kate van der Merwe, FCA, has carved out an impressive career in sustainability driven by her passion to effect positive societal and climate change  An abiding sense of adventure and curiosity has guided Kate van der Merwe’s career from accounting to sustainability, and from the corporate realm to the world of nonprofits, as she continues to pursue her passion to effect positive societal and climate change. Originally from KwaZulu-Natal in South Africa’s east coast, van der Merwe studied social science at the University of Cape Town before qualifying in Ireland as a Chartered Accountant and forging a successful career as a sustainability consultant. Driven to explore “I think it’s my background in social science that has made me so curious and driven to explore,” van der Merwe says. “The social sciences have a good dose of curiosity and exploration, but in the early stages of my career, I found myself struggling a bit to find roles in the messy ‘real world’.  “I lived in the UK on a working visa for two years after college and, being a South African, my mobility was restricted. I decided to go into Chartered Accountancy to open doors and cross borders. “At the time, I told my humanities-driven self that finance was the linchpin of economic systems, and it might one day allow me to effect some positive societal change.”  Van der Merwe relocated to Ireland in 2006 to train as a Chartered Accountant with a firm in Dublin. Her qualification in 2009 coincided with the onslaught of the global financial crisis, however, prompting her to return to Southern Africa, where she spent five months travelling around the region. “It really was a case of ‘when life gives you lemons’, because that trip was pivotal for me,” she says.  “It brought me back to my childhood surrounded by so much biodiversity. I was fortunate growing up that, during the holidays, we were able to go to the beach, to the mountains and, every now and again, to the bush.”  “Years later, my childhood experience would also become the driving force behind my interest in the social aspect of environmental, social and governance (ESG) principles. “The apartheid system was still in place when I was at primary school and then Nelson Mandela was released, and we had our first democratic elections in 1994. Those experiences instilled in me an awareness of the importance of social justice and equality.”  Early career Van der Merwe returned to Ireland in 2011 to take up finance roles, first in the pharmaceutical industry and then in the technology sector. “I joined Google and I was immersed in this environment in which values, such as sustainability, were on the agenda. Google was doing interesting work in renewable energy innovation at the time. “Then I received my naturalisation to become an Irish citizen, and that stability compelled me to think about what I could do to become an active participant in bringing about positive change. I started to find my voice.” At the time, van der Merwe says she felt an “urgent sense of responsibility” in the face of the burgeoning climate crisis and global biodiversity loss. She decided to embark on a master’s in renewable energy and environmental finance at UCD Michael Smurfit Graduate Business School, dropping to part-time hours with Google to facilitate her studies. “My master’s marked a sea change for me—a deliberate journey of exploration. The key was finding the strength to speak up about the things that are important to me, and that’s not necessarily easy to do,” says van der Merwe. Once her master’s was complete, she joined Trócaire, where she became Financial Planning and Analysis Manager, supporting the NGO’s carbon measurement and reporting processes, and developing organisational carbon budgets.  “I wanted to return to working with an NGO, on a short-term contract. I was looking for a total contrast to the powerful, cash-rich corporate world—a grounding experience, working in a much more resource-constrained environment. “Fortunately, thanks to my network, a nine-month role came through with Trócaire and I stayed with them for a year-and-a-half. “I really grew with Trócaire. It is an amazing organisation with many passionate, committed people who are so bold in how they approach the change they want to make. That perspective was invaluable.” Transformational projects In the years since—and now on the cusp of taking up a new role with Hometree, the nature restoration charity—van der Merwe has worked as a sustainability consultant, lending her considerable expertise to the advancement of transformational projects at the intersection of finance, social and environmental sustainability. Her advocacy efforts extend beyond this work, however, to a range of voluntary roles, including board member with the Irish Social Enterprise Network and advisory committee member with Friends of the Earth Ireland. Van der Merwe is also a member of Chartered Accountants Ireland Sustainability Working Group. “My approach is to use systems thinking to look at sustainability in a holistic way across a multitude of spaces, and to introduce this concept wherever I have a platform,” she says. “People often think of ESG solely from an environmental perspective, forgetting about the social piece. In actuality, both are highly interdependent and very much impact each other.  “Then, you have to look at the problem of who has a voice and who doesn’t? I am fortunate to have a voice, but others don’t. Often, decisions are made that impact them and they have no influence.” Van der Merwe has just completed a postgraduate certificate in climate entrepreneurship at Trinity College Dublin. “In everything I do today, I think back to that time just before I started my master’s in renewable energy and environmental finance when I felt like I was waiting for other people to come and save us all,” van der Merwe says. “I found my voice and now I want to continue to build my network, experience as much as I can and do as much as I can to change society for the better and support the fight against the climate crisis.  “I think a lot of people are nervous about taking action, or feel, like I did, that others will do it better on their behalf—but, right now, we are at an absolutely pivotal stage.  “The existing system—the old way of doing things—is dying. It is going to change and what we do now will determine the new system that emerges.  “We really need the silent majority to speak up to support ESG. We are the cavalry, and I don’t think we can afford to be complacent, particularly in the face of current developments, such as the backtracking we are currently seeing in the US under Donal Trump’s presidency.” Interview by Elaine O’Regan

NTR’s Marie Joyce, FCA, tells Accountancy Ireland about her career path to  sustainability and hopes and expectations for Ireland’s renewable energy future Marie Joyce, FCA, is Chief Operating Officer and Chief Financial Officer with NTR. Joyce joined the Irish infrastructure investment company in 2004 and was appointed to the role of Deputy Group Chief Financial Officer in 2010, followed by Group Commercial Director two years later. She assumed her current dual role in 2013 and is also an Independent Non-Executive Director to both daa plc and Staycity Group. QTell us a bit about yourself and why you decided to become a Chartered Accountant. Growing up on a working farm in rural Ireland in a family with six children, hard work and commitment were ingrained in us from an early age.  I’ve always been passionate about finance and nature, and I feel fortunate that my career allows me to combine both. That said, my career path wasn’t always clear-cut. I knew I wanted to be challenged every day and work towards something meaningful.  At that time, in 1990s Ireland, the jobs market looked very different to today. Career opportunities were thin on the ground.  I was fortunate to be selected by Arthur Andersen to train with the firm as a Chartered Accountant, and that training would ultimately become the foundation for my entire career. Since then, I’ve had the privilege of working across multiple sectors, from biotech to infrastructure and now clean energy transition.  What excites me most is navigating fast-paced change—whether it’s driving rapid growth, executing mergers and acquisitions or steering high-pressure restructurings.  The common thread in my career has been the ability to adapt, innovate and lead through transformation. Q. What does your work as Chief Operating Officer and Chief Financial Officer with NTR involve?  I have been with the NTR group for over 20 years working across Ireland, the UK and the US. Over the past decade, in particular, I have been instrumental in driving our growth and evolution. My role today with NTR encompasses three main strands of activity: Fundraising and acquisitions: product design (investment propositions), supporting fund launches and fundraising (in particular fund structuring, marketing and legal documents, negotiations and investor due diligence), approval of investment bids and acquisitions. Financial: managing our funds, including governance and risk, and their underlying investments, as well as investor reporting and investor relations.  Operations: managing risk, human resources, public relations, legal, information security and digital transformation. Q. What does NTR do? Tell us about the organisation.  NTR is a specialist renewable energy asset manager with close to five decades’ experience in infrastructure investment and management.  We specialise in acquiring, developing and operating sustainable infrastructure projects, focusing on wind, solar and energy storage across Europe.  We are based in Dublin and currently manage 1.4 gigawatts of energy across 66 locations in seven European countries. We have an additional 500 megawatts in development, totalling €2 billion in invested capital.  Q. What does it mean to you to be part of an organisation with this renewable energy legacy? NTR’s first investment in renewable energy dates back to 1999, so renewables are truly in our DNA.  I’ve always loved the idea of generating power from natural resources—wind, sun and water—without harming the environment.  Growing up in the countryside in Ballymoe, Co. Galway, we lived off the land, growing our own vegetables and raising our own meat, without fully realising the value of this organic, self-sufficient way of life.  As a society, this is what we need to return to—working with nature rather than against it—and I am proud to be part of NTR, an organisation with a longstanding commitment to clean power. Q. How important is Ireland’s renewable energy sector to the future of our economy?  I believe Ireland’s renewable energy sector can be instrumental to the future of our economy and climate goals. The Government’s Climate Action Plan has set targets to reduce Ireland’s greenhouse gas emissions by 51 percent by 2030 and reach climate neutrality by 2050.  These goals are ambitious and the ongoing shift to renewable energy will be crucial in allowing us to achieve them. Russia’s invasion of Ukraine has brought the issue of energy security to the fore for governments across Europe and Ireland is no different. Greater capacity to generate renewable energy ourselves here in Ireland would reduce our reliance on fossil fuel imports, thereby bolstering our energy security. Energy demand is rising, driven by the increasing electrification of an expanding economy and rising population. Renewables are the cheapest form of power available to meet this growing demand. Developing and constructing renewable energy infrastructure also creates direct employment.  Ireland has the potential to become a leader in renewable technologies and energy exports, particularly in offshore wind where we have a seabed 10 times the size of our landmass. Q. What do we need to do now to support the future of Ireland’s renewable energy sector?  At a national level, faster planning and permitting policies are needed for renewable energy infrastructure.  This is a major hurdle today. If our Climate Action Plan targets are to be met, reform of the planning system is urgently needed.  I would like to see national climate targets embedded in local planning policy. If the development of our renewable energy infrastructure were to be viewed as an overriding public interest, the true potential of renewable deployment in Ireland could be unlocked. Our grid needs continuous modernisation to meet the growing demands of the economy and accommodate a growing share of intermittent renewable energy sources, such as wind and solar.  The grid must become more flexible, with greater storage capacity and enhanced interconnectivity with other countries, such as the introduction of new interconnectors like our planned Celtic Interconnector with France.  Q. Who do you most admire in public life today in Ireland or globally?  Pascal Donohoe is a longstanding and skilled politician whose career trajectory I find particularly resonant as we are contemporaries.  His stewardship of Ireland’s economy through multiple crises stands out—from Brexit uncertainties to the COVID-19 pandemic and now, today, we could not be in better hands as he navigates Ireland through US President Donald Trump’s tariff war. His competence combined with measured, thoughtful communication are qualities that have become increasingly valuable in our current era of political polarisation.  Unusually for a politician, he also generally directly answers the questions that are put to him. Q. What are the three most important lessons you have learned in your own career?  The three most important lessons I’ve learned are: You are yourself and that is good enough—embrace your unique strengths, perspectives and style. A smile never goes astray—a positive attitude and a warm approach goes a long way. Enjoy the journey—life is short, celebrate the wins, get enough sunshine. Q. What advice do you have for Chartered Accountants starting out in their career today? Qualifying as a Chartered Accountant provides invaluable professional training that will set you up for life.  When I started my own career, I thought I was simply going to become “an accountant”.  However, what my training actually gave me were the skills to become a rounded business professional. As my career has progressed, I have been able to extend those skills into shaping, running and advising businesses.  The biggest surprise for me, looking back, is the realisation that my greatest career progress has often come about when things haven’t gone to plan.  Those challenging situations that pushed me outside my comfort zone—forcing me to grow, adapt and develop new skills—were pivotal in taking me to new levels, especially as a woman in finance and infrastructure—which, 30 years ago, was very much a man’s world.  So, my advice to those starting out today is to do your very best, enjoy the experience—and don’t be afraid to ask questions or put your hand up if you think something is not right.  

Supporting the diverse and intersectional experiences of individuals within the LGBTQIA+ and Ability communities is a must for employers in today’s workplace Making it in today’s professional world isn’t always easy, but some people have extra obstacles to overcome.  Mark Scully, FCA, founder of Braver Coaching & Consulting said that, as a neurodivergent person who was undiagnosed for some time, he had faced significant challenges at work as he “attributed all the fault” to himself for tasks he felt he could not do to the same level as his colleagues.  “That seriously impacted my mental health—I was kicking myself for not being able to do these tasks like everyone else,” Scully explained.  “I was continuously working harder or longer, trying to compensate, until I burnt out—and because I didn’t know I was neurodivergent, I was engaging in a lot of masking and compensation strategies in order to make the workplace more tolerable.  “Once I did find out that I am autistic, I was afraid to let people know because I didn’t know how they would take it or thought they would not believe me and would question my credibility.” A state of isolation With little to no talk of neurodiversity in the workplace at the time, Scully found himself feeling isolated and fearing what people may say if they found out. “I couldn’t see anyone there whom I could relate to as being neurodivergent. Of course, there are lots of famous, high-profile people who are neurodivergent— but I couldn’t relate to them. So, I felt very alone and didn’t feel like there was anyone I could turn to for help,” Scully said. Sensory differences also made work difficult for Scully, as he has hypersensitive hearing and found himself straining to understand what was being said at times.  “I was genuinely in fear of going to client lunches due to the noise levels in some places. I would struggle to hear anything at the table,” he said.  “Other issues included not understanding workplace norms or ‘unwritten rules’ and trying to understand what people were looking for or what their expectations of me might be, so I just assumed I had to be perfect. This all had a big impact on me, and I found it very challenging.” Despite these challenges, Scully followed an impressive career path as a qualified barrister, Chartered Accountant and Chartered Tax Advisor, who had ascended to director level in a Big Four practice by the time he was diagnosed with autism. “It was a big relief being diagnosed,” he said, “finally, I could have some compassion for myself and know that there are areas I’m not going to be as good as everyone else in. However, there are other areas I’m incredibly good at. It is just about focusing on the strengths and asking for help in other areas. I’m in a really good place now.” Removing fear from the conversation Feeling safe enough to ask for help or understanding from colleagues and managers is crucial, said Scully, as “fear needs to be removed from the conversation”.  “I was afraid to let anyone know I was neurodivergent, because I didn’t know how it would be accepted and, in that vacuum, I had built it up so much in my head,” he said.  “But when I did let people know, there was no bad reaction, and it was actually received well, but I didn’t know this in advance, and it makes you start fearing the worst. We need to talk about it so neurodivergent people know that they have support in the workplace and feel safe to ask for help.  “Managers may be terrified of saying the wrong thing, so while training on language is useful, it’s also important for them to know that it’s okay to make mistakes in one-on-one conversations as long as they have the right intention. It’s much better to talk about this and make mistakes than not talk about it all.  “Talk, engage and be curious. Nobody is expected to be an expert in somebody else’s neurodivergence, it’s totally unique to them. So, managers and HR people should learn about what neurodivergence means for that particular person by talking to them.  “They should look past the label and get to understand the person, their particular needs and their strengths as everyone is unique. It’s all about starting the conversation.  Following his own diagnosis, Scully went on to found Braver Coaching and Consulting (gobraver.com) to promote neurodiversity in Irish workplaces and provide executive coaching to young professionals, both neurotypical and neurodivergent. Organisation-wide benefits of neuro-inclusion Scully said that, by providing training and making the necessary accommodations, employers could help to improve mental health for neurodivergent people, delivering organisation-wide benefits.  “If people feel like they’re working in a place that accepts them, and they don’t have to engage in masking or compensation strategies each day, it will have such a benefit for their mental health, in my opinion,” he said.  “If an organisation is not talking about neuro-inclusion, then it is not serious about mental health.   “By taking steps to be more inclusive, companies should see increased employee retention and productivity, and there is substantial funding available to support employees with disabilities.” From a bottom-line return-on-investment perspective, it makes sense to have a culture of neuro-inclusion, Scully said.  “Learning how to be a neuro-inclusive manager just results in better managers for everyone, full stop. It’s also the right thing to do, from a reputational perspective, because graduates are looking at employers that they may potentially work for and they are very well-informed about diversity.  “In the battle for talent, neuro-inclusive workplaces will entice the exceptionally bright and wonderful graduates who can offer a diverse range of thought, creativity and strength.”   Celebrating love, acceptance and diversity Jaimie Dower, Executive Director, Audit Quality Programme at EY, agrees with Scully that employer support for all employees with diverse experiences, is crucial. As a transgender woman who has struggled with identity, Dower acknowledged the important role EY, her employer, had played in being “vocally and visibly an ally and advocate for LGBTQ+ inclusion for a long time”. “As an employee with 30 years’ experience with the firm, this was a source of immense pride for me,” Dower said.  “To work for a firm that acknowledges and celebrates love, acceptance and diversity really makes a difference.  “Work isn’t and shouldn’t be the most important part of our lives, but it is a place where we spend a huge amount of time, so the relationships and experiences we have there are key to our emotional and physical wellbeing.  “The knowledge that I work somewhere that people are free to be, and to bring their authentic selves to work, really matters.” Dower, who initially tried to keep her “authentic self a secret from all but closest family” decided to come out during the COVID-19 lockdown.  She received immediate support from work colleagues, but the process was not without challenge.  “As I started to navigate conversations with HR, our DE&I team and my friends and colleagues, I started to realise that the firm’s commitment to LGBTQ+ inclusion was not just lip service or pinkwashing, it was a genuine part of the culture of the firm and its people,” she said.  “Despite this, there are very distinct challenges I faced, which employers need to be conscious of.  “The first one was how to tell people. It’s important to allow people the space to work this out and to acknowledge that there is no ‘right’ way; no one-size-fits-all answer. I had support in planning those conversations. Clear boundaries and guidelines  “It is really important that there are clear boundaries with regard to what any individual wants to share. I didn’t want to be—and, emotionally, couldn’t have coped with being—a walking ‘Transgender 101’ class for everyone.  “It was important for that to be acknowledged. Another challenge was that I never anticipated the number of times I would need to update my name, gender marker and picture. What seems like a simple ask can sometimes become mired in a morass of procedure. There has to be a way to make this simpler. “The issue most people will be aware of is around bathrooms and it’s hard to explain how much mental and emotional space such a small thing now occupies in my life. It’s a consideration every time I go outside the door and the important thing is that employers are very clear in their policies and transparent on this.” The EY Executive Director said that there had been tough days but also “so much joy and positivity, including being able to assist in the refresh of EY Ireland’s Gender Identity, Expression and Transition Guidelines”.  And while her personal journey is not complete, Dower said she feels privileged to work for a firm where she is free to be herself—something which should be the norm. “We all have to work together to combat homophobia, biphobia and transphobia and to actively ensure acceptance and understanding in everything we do,” she said.  “Employers should consider ensuring that there are guidelines to cover discrimination of all sorts, and everyone should respect the pronouns of transgender or non-binary colleagues or friends. That’s just one conscious mindful step that can make someone feel respected, included and valued. “Any organisation that flies a flag that says ‘you can be yourself here’ is going to attract the best candidates and get the most from them.” This article has been produced in collaboration with BALANCE, Chartered Accountants Ireland’s LGBTQIA+ networking group, and the Institute’s Diversity and Inclusion Committee. To find out more about their work or how to get involved, contact Karin Lanigan, Head of Members Experience, tel: +353 1 637 7331, email: Karin.Lanigan@charteredaccountants.ie.

Stephen Prendiville explains how smart and responsible investment in infrastructure can have a transformative effect on societies With Ireland’s population set to swell to 5.7 million by 2040, we have a once-in-a-generation opportunity to use infrastructural planning to support a better future for all. So says Stephen Prendiville, FCA, Infrastructure and Real Estate Advisory Partner and Sustainable Infrastructure Leader at Deloitte Ireland. “New homes, jobs and amenities will be needed to meet both basic needs and deliver a good quality of life for all, and infrastructure is critical,” Prendiville says.  “We have a once-in-a-generation infrastructure investment requirement, and we need to deliver it in a manner aligned with criteria that will make it good for all.” As Prendiville sees it, smart and responsible investment in infrastructure can have a transformative effect on societies. “It’s about looking at infrastructural spend from the perspective of wider potential benefits, rather than just the ‘money lens’, and encouraging governments to improve how they prioritise infrastructure and support dialogue between key stakeholders to create a more sustainable economy and society,” he says. Sustainable infrastructure: early start In his work today with public and private sector clients, Prendiville’s focus is on ensuring we deliver our collective infrastructure requirements to reach climate neutrality by 2050 and improve society for future generations. His own interest in infrastructural planning emerged early in his career when he was training as a Chartered Accountant with KPMG in Dublin. “I owe my start to Michele Connolly at KPMG who gave me my first taste of infrastructure back in the 2000s,” Prendiville says. “I worked on some of the biggest projects in the country at the time, including our road network and the first iteration of Metro North. Then, like many towards the end of the noughties, we left Ireland after the financial crash and moved to Canada. It was there I got my first real experience of sustainable development in a live environment.”  Prendiville would remain in Canada for close to a decade, working with big cities, including Toronto, Vancouver, Edmonton and Montreal, to deliver sustainability and resilient infrastructure goals.  “I was working with cities and municipalities utilising public transport to improve citizens’ lives and livelihoods by creating opportunities to bolster economic development and tackle social deprivation,” he says. “A lot of professionals working in infrastructure are driven by the tangible impact they can have, whether that relates to hospitals, schools, renewable energy or transport, but it wasn’t until the introduction of the UN’s Sustainable Development Goals (SDGs) in 2016 that I really had a solid framework for understanding sustainability in the context of infrastructure.”  The United Nations’ 17 SDGs (see panel on pg. 43) form the framework for achieving a better and more sustainable future for all by 2030. The 17 goals are interconnected—one cannot be achieved at the expense of another. “Looked at in totality, the SDGs are about advancing a wider sustainable outcome from a societal perspective,” Prendiville says. “If we’re going to challenge ourselves to deliver sustainable infrastructure, we have to always ask ourselves, ‘what am I not thinking about here in the context of what this project is?’ “It’s very easy to look at a wind farm solely as a clean energy project, for example. More than likely, it could offer other opportunities linked to the SDGs in the context of jobs, skills, biodiversity and habitat. That’s really where the concept of ‘infrastructure for good’ comes in.”  Infrastructure for good The Infrastructure for Good report was published in 2023 by Economist Impact with support from Deloitte and Duke University’s Nicholas Institute for Energy, Environment and Sustainability in the US. The barometer benchmarked the capacity of 30 countries to sustainably deliver infrastructure addressing social, economic and environmental needs, across five pillars: Governance and planning. Sustainable financing and investment. Social and community impact. Economic benefits and empowerment. Environmental sustainability and resilience.  Among the 30 countries analysed, Canada and the UK performed best. The barometer revealed, however, that—while most countries prioritise governance and planning—the financing and execution of infrastructure projects is often insufficient to deliver positive social outcomes.  “Ireland placed sixth in the barometer, which is a good result, but we fell down in the area of community engagement and benefit realisation at a localised level,” Prendiville says. “This is really about the idea that a project is narrowly defined relatively early and, while the community is allowed to contribute to the public consultation, it is not necessarily involved in co-creating the solution, nor is the solution delivering additional community benefits.   “An example might be a new bypass delivered by a department: the benefits case for the bypass will be that it’s going to remove a certain number of vehicles from a town centre, improving quality of life for the community. “The flipside is that there will be no money for the town to actually grab the opportunity the new bypass presents and realise potential benefits. They will get the road, but their local authority will have to come up with the rest themselves. “That won’t necessarily happen though, because the local authority might have several other priorities they need to deliver. So, doing what’s needed to unlock those benefits might fall by the wayside.  “Put simply, when we define a project’s goals too early, and to the delivery agent’s mandate, we miss out on the opportunity to realise the full breadth of benefits that might exist. “The opportunity for Ireland is to be the standout country in getting this right and doing this better in the context of an infrastructure for good framework.” Once-in-a-generation opportunity The roll-out of Project Ireland 2040, the Government’s national planning and capital expenditure strategy, marked an important milestone in Ireland’s sustainable planning policy, Prendiville says.  Launched in 2018, Project Ireland committed €165 billion in capital investment to fund vital infrastructure in areas such as housing, transport, education, enterprise and climate action at a time of significant population growth. More recently, The Programme for Government 2025, published in January, recommitted to the Climate Action Plan goal of achieving net-zero greenhouse gas emissions by 2050, as well as fast-tracking planning for offshore wind development and increasing home retrofitting targets in the years ahead. “I take a lot of heart from the Programme for Government,” Prendiville says. “I think we have transitioned in terms of our thinking. We’re no longer asking, ‘what do we need to do?’ We know we need to act. “We know that, in the world around us, we have a fundamentally changing economy and disrupted economic model.  “As a country, we need to strengthen our infrastructure to support changes on the global stage and we have a social requirement to build sustainable infrastructure for a growing population. “We need to think in terms of proactive decarbonisation, housing and new communities, the new economic models, sectors and industries we need for our workforce, and our participation in Europe and on the global stage from the perspective of foreign direct investment. “We already know probably 90 percent of what we need to do, and now it’s about moving forward bravely with our execution–and the social license to undertake this generational build programme shouldn’t be taken for granted.   “We owe it to the future generations to get it done as fast as possible, but, ultimately, to get it done well so that it lasts the test of time.” Interview by Elaine O’Regan  

The Financial Reporting Council’s updated guidance on going concern reporting offers a more comprehensive framework for assessing risk in an era of heightened uncertainty, writes Aisling Treacy In today’s dynamic business environment, economic volatility and market disruptions have heightened the focus on “going concern” in financial reporting.  In the UK, the Financial Reporting Council (FRC) plays a key role in setting standards and regulations. The FRC has updated its guidance on the Going Concern Basis of Accounting and Related Reporting (including Solvency and Liquidity Risks) (the Guidance), replacing the 2016 edition with immediate effect.  This update reflects the evolving business environment and provides a more focused framework for UK companies, building upon the 2016 edition used by directors across many jurisdictions, including Ireland.  The Guidance calls for greater transparency and more detailed risk disclosures, especially around solvency and liquidity challenges.  Directors should adopt a forward-looking approach, assessing current and future risks to ensure companies are prepared for uncertainties, while maintaining trust with investors and stakeholders. Guidance overview The Guidance builds upon the previous 2016 edition, expanding its scope to provide a more comprehensive framework for directors.  It is intended for all UK companies, excluding small and micro-entities, and includes companies adhering to the UK Corporate Governance Code. The Guidance consolidates various UK company law requirements, accounting and auditing standards, listing rules, the UK Corporate Governance Code and other relevant regulations.  It aims to help directors assess their company’s ability to continue as a going concern and ensure that any material uncertainties are appropriately disclosed. Disclosures should be proportional to the company’s risk profile, helping maintain transparency and supporting investor confidence. The following section outlines the key updates to the Guidance.  Key Guidance updates Focus on material uncertainties  The Guidance places greater emphasis on identifying and disclosing material uncertainties that could affect a company’s ability to continue as a going concern.  Directors should assess both immediate and emerging risks and outline strategies to mitigate them.  The Guidance integrates solvency and liquidity risks into material uncertainty disclosures for the first time, reflecting their importance to a company’s viability.  If doubt arises about the going concern assumption, directors must disclose related risks in line with the “true and fair view” requirement. For the first time, the FRC recognises four potential scenarios regarding the going concern basis of accounting. Previously, the Guidance outlined three:  No material uncertainty. Material uncertainty with appropriate disclosure. The going concern basis of accounting is not appropriate.  The updated Guidance introduces a fourth scenario where the going concern assumption is appropriate and there are no material uncertainties, but significant judgement was required to reach this conclusion.  Graphic 2 below outlines the decision-making process, highlighting the fourth scenario.  Broader view on solvency and liquidity  The Guidance broadens the focus on solvency and liquidity risks. Solvency refers to the company’s ability to meet its long-term obligations, focusing on business sustainability and capital maintenance.  In contrast, liquidity concerns the availability of cash and other resources needed to fund day-to-day operations.  Directors are encouraged to assess both aspects to identify potential risks and aim to manage cash flow effectively.  Forward-looking approach A more forward-looking approach is encouraged in assessing a company’s going concern status. This involves developing detailed financial forecasts and testing a range of scenarios, from normal to extreme worst-case conditions.  Techniques such as stress testing, sensitivity analysis and reverse stress testing can help evaluate potential adverse conditions such as economic downturns, inflation, interest rates and geopolitical events.  For example, management may simulate the impact of an economic recession, sudden regulatory change or a disruption to the supply chain, to assess how these events could affect the company’s ability to continue operating.  This proactive approach may help companies prepare for potential challenges and better position themselves to navigate uncertainty.  Revised approaches to materiality and disclosure placement   The Guidance introduces detailed changes to materiality and disclosure placement. Directors are encouraged to clearly explain the assumptions, methodologies and significant judgements in their going concern assessment.  For example, if uncertainty exists over meeting debt obligations due to fluctuating interest rates, directors should outline assumptions about future cash flow projections, liquidity risk assessments and judgements regarding financing.  Disclosures should be proportionate to material uncertainties, particularly those related to financial and liquidity positions. This means focusing on significant uncertainties, such as refinancing debt or sales downturn, while avoiding over-disclosure of less significant risk.  Directors should consider the placement of disclosures to facilitate effective communication. Grouping similar disclosures reduces duplication and highlights linkages. Cross-referencing ensures key information is accessible and demonstrates consistency throughout the annual report.  Broader applicability and group considerations  The Guidance applies to a wider range of companies, including those adhering to the UK Corporate Governance Code.  Directors of subsidiary companies should assess the ability of parent companies or fellow subsidiaries to provide support for the going concern basis, considering group arrangements such as cross-guarantees or cash pooling, which can expose subsidiaries to additional risks.  Subsidiaries should disclose significant judgements about the support they receive from parent companies or fellow subsidiaries and the risks associated with group-wide going concern assessments. Auditors’ responsibilities  The Guidance affects auditors by defining their role in evaluating the going concern assumption.  Auditors must assess whether the directors’ assumptions align with accounting standards and are adequately supported by disclosures.  If material uncertainties are not sufficiently addressed, they should challenge the directors’ judgements and ensure that material uncertainties are disclosed. What these changes mean for management 1. Strategic decision-making  The Guidance calls for a more strategic approach to going concern assessments. Management should integrate short-term liquidity and long-term sustainability assessments into strategic and risk management processes. Directors should consider future risks, including planned investments, economic changes and market conditions. 2. Communication and reporting Clear and transparent communication is a key focus. Companies should now disclose material uncertainties regarding going concern in a more detailed and accessible way. The company’s narrative regarding its financial health and strategic direction should align with the going concern assessment to ensure that investors and other stakeholders have confidence in the company’s prospects. 3. Risk management and scenario planning The Guidance emphasises scenario analysis and stress testing, requiring management to develop flexible risk management strategies. Simulating extreme events, such as recessions or supply chain disruptions, helps companies understand vulnerabilities.  Questions directors may ask of management  The following questions may help guide the navigation of the Guidance. While directors may have asked some of these questions in the past, the expanded Guidance encourages them to consider a wider range of factors.  Is the standard 12-month assessment period appropriate, or do we need a longer assessment period? Have we considered all material risks, including market volatility, regulatory changes and reputational risks? What significant judgements were applied in determining the going concern basis, and how are these disclosed? Have we assessed the impact of potential future disruptions, such as geopolitical risks and supply chain challenges, and incorporated forward-looking scenarios and stress tests to evaluate their effect on viability? Are financial forecasts and plans sufficiently robust to withstand adverse scenarios? Do we have access to sufficient liquidity and financing options in a crisis or downturn? Is the board engaged in the going concern process and actively reviewing the assumptions and conclusions? Have we documented the going concern process in a manner that is transparent? Is the audit committee involved in reviewing the going concern conclusion, ensuring that all material risks have been adequately assessed and disclosed? Are we effectively communicating our going concern assessment and related risks to stakeholders?  A more robust and transparent future The updates signal a shift towards more transparent, forward-looking financial reporting, responding to the changing risk landscape, including geopolitical and economic factors.  With the transition from the 2016 Guidance to the 2025 framework, directors are encouraged to apply this modernised and robust approach to going concern reporting.  The updated Guidance offers a clearer and more comprehensive framework for assessing risk in an era of heightened uncertainty.  Directors are encouraged to take this opportunity to strengthen their strategic approach, ensuring their companies are better prepared to face future challenges and adapt to an evolving risk environment.  Aisling Treacy is a Director with KPMG Ireland 

Fastcom Managing Director Lorraine Gribbons, FCA, reflects on her journey from auditing to leading a regional business, championing gender equity in leadership and the challenge of achieving work-life balance in the fast-moving telecoms industry I became Managing Director of Fastcom over eight years ago, bringing with me my background in Chartered Accountancy and a deep-rooted passion for driving business growth.  My foundation as a Chartered Accountant, with its emphasis on strategic thinking, attention to detail and problem-solving, proved instrumental as I transitioned into the telecoms sector.  Although I hadn’t initially envisioned a future in this industry, I found myself increasingly drawn to the challenge of scaling a regional business on a national level.  This challenge became my mission: how to expand Fastcom’s footprint across Ireland while remaining true to our Sligo roots.  I am very proud of the company’s achievements. Under my leadership, Fastcom has grown into one of Ireland’s most flexible telecoms providers, built on a foundation of innovation, regional pride and dedicated commitment to customer care.  My focus is on positioning the company as one of Ireland’s top technology leaders—not just in terms of the services we offer, but also in how we lead, innovate and support our people.  This includes continuing to break barriers—for women in leadership, regional businesses and anyone who dares to grow beyond what’s expected.  Robust career pathway As far back as I can remember, accountancy was what I wanted to do. I’m not sure where that came from, but it was always on my radar as the route I wanted to take and the qualification I would ultimately achieve.  I attended school in Sligo and then went on to study Business, Economics and Social Studies at Trinity College Dublin.  I had worked in an accountancy practice in Sligo in the summer following my first year at college and then went on to complete a summer work placement organised by Trinity after my third year, in the audit department of KPMG in Dublin.  This experience gave me great insight into what the trainee programme would be like and I started my training contract with KPMG after completing my degree the following year.  Qualifying as a Chartered Accountant gave me excellent education and training, providing valuable insight into business operations and a robust pathway for career progression and opportunities.  Once my training contract was completed, I decided to move back west to Sligo, where I worked as an Audit Manager with Gilroy Gannon for over 10 years before transitioning into industry with Fastcom. I became the company’s Managing Director soon after the move.  Women in leadership: moving beyond the exception Moving from the world of finance and accounting into telecoms, I’ve worked in two industries where women in leadership were once the exception, not the norm.  I’ve seen some progress in gender equity over the years, but it is slow, and there is definitely room for improvement.  I recall my accountancy training days, when many of the more junior staff members were female, but the senior roles were nearly always male-dominated. There are certainly more women at the top table now, and the conversations are evolving, but there’s still work to be done.  I would love to see more women in senior roles across all industries, as well as increased support at key transition points in a woman’s career, such as returning from maternity leave or aspiring to leadership.  Family responsibilities also play a part in the progress of gender equity, as balancing these with an evolving career can be a challenge.  Helping others reach their potential Mentoring and networking have played a huge role in my career, even if not always in formal ways.  I have been fortunate to have had people whom I could look to for mentorship; they have given me honest feedback and encouragement when I’ve needed it most at all stages of my career. Just as importantly, I’ve always believed in helping others reach their full potential in their own careers, wherever and whenever I can.  Networking, too, has opened unexpected doors, whether through industry events, local business groups, education sessions or informal chats over coffee.  The moving target of work-life balance Work-life balance is a bit of a moving target, isn’t it?  For me, it’s not about getting it right every day as I don’t think that’s possible. Some weeks are more work-intensive, while others allow for space to recharge.  My biggest challenge is switching off, as I find this very difficult to navigate.  When running your own business, you’re fully invested, and this sometimes spills over into downtime. For me, it does depend on what’s happening at work and how pressing any issues might be.  It’s something I know I always have to keep working on and be very conscious of.  As great as technology is, especially when working in a technical industry, the ability to disconnect from your phone and emails is vital during personal time.  I have learned over the years that rest is just as important as work for long-term success. You need to be able to refuel yourself to keep going and bring your best to the business.  With three children, my own “rest time” is still busy, but it’s  great for distracting me from the office and what’s going on at work.  Learning from your own team Over the years, I have found real value in professional development programmes, leadership courses and peer learning. Sometimes, though, the most impactful learning comes from within your own team.  Listening, collaborating and remaining open to diverse perspectives has enabled me to grow and develop personally.  I am always reading a wide variety of business materials and books to gather ideas for Fastcom and for myself personally, so that I can continue to thrive. Interview by Liz Riley  

Is the environmental, social and governance movement in decline? We ask three of our Chartered Stars, each recognised for their outstanding work in support of the United Nations’ Sustainable Development Goals, for their take on the future of ESG Evan O’Donnell Chartered Star 2024 Accountant with Avery Dennison   As a Chartered Accountant, I view the future of sustainability through both a financial and ethical lens.  Sustainability is increasingly becoming a key pillar of business strategies, and I believe that over the next decade, it will shift even more from a niche concern to a mainstream priority.  Companies and governments will need to integrate sustainability into their financial reporting, with transparent disclosures on environmental, social and governance (ESG) metrics becoming standard practice.  The rise of green bonds, sustainable investing and carbon accounting will drive capital towards businesses that align with sustainability goals, creating a clear incentive for corporations to adopt responsible practices. Looking ahead, I hope to see a world in which sustainability is embedded in every financial decision.  Businesses should not only focus on reducing their environmental footprint but also consider the social equity and long-term resilience of their operations.  This shift will require a redefinition of value, where profit is measured alongside positive social and environmental impact, creating a more balanced approach to growth. The current transitional period in geopolitics presents challenges, however. With some countries backtracking on sustainability efforts, there is a risk of fragmentation in global initiatives.  While international collaboration is essential, the rise of protectionist policies and divergent priorities may hinder the overall progress of global sustainability targets.  As a result, I expect businesses to face increasing pressure to navigate this geopolitical uncertainty, balancing national interests with global sustainability standards. In the future, we will likely see greater local innovation in sustainability, with businesses and governments in different regions leading by example.  While there are challenges ahead, however, the growing recognition of the financial value of sustainable practices gives me hope that we will continue to move towards a more sustainable and inclusive future. Peter Gillen Chartered Star 2023 Sustainability Reporting Manager with AIB   In the future, I hope to see further consolidation of global sustainability reporting standards to simplify implementation for companies. While progress is being made, however, challenges remain. Existing EU legislation, such as the Corporate Sustainability Reporting Directive (CSRD), Corporate Sustainability Due Diligence Directive (CSDDD) and EU taxonomy for sustainable activities, continue to evolve. At the same time, new measures are emerging, such as China’s recently introduced corporate sustainability reporting standards.  Continued global engagement on consolidating these is critical to encourage more companies to report against these standards. Given recent geopolitical shifts and the decision by some nations to scale back their sustainability efforts, I was initially concerned all the progress made would be undone.  However, European companies increasingly recognise the “business” rationale for sustainability, no longer viewing it simply as altruism.  Even companies outside the CSRD’s scope should still see the benefits of managing climate risks, such as rising temperatures and sea levels.  This isn’t about pandering to a “woke” environmental, social and governance (ESG) agenda, it is about ensuring the long-term viability of one’s business. Despite the recent wave of anti-ESG sentiment, there are some who are refusing to accept calls for ESG to be omitted from investment decision-making.  In the UK, for example, the People’s Pension (one of the UK’s largest pension funds) recently moved £28 billion in assets from the US asset manager, State Street, noting that it wished to prioritise sustainability, active stewardship and long-term value creation for its near seven million members.  It remains to be seen whether other funds will follow suit.  I hope funding for pro-ESG funds continues to grow; not for political reasons, but to protect the financial futures of those whose pensions and savings are managed through funds.  It will also be interesting to observe whether asset managers continue to support ESG publicly or remain silent to avoid criticism (i.e. greenhushing). Fiona Hanafin Chartered Star 2022 Associate Director, Sustainability Advisory, Grant Thornton Sustainability is evolving from being viewed merely as a compliance requirement or ‘tick box’ exercise to a strategic driver of long-term business success.  I believe businesses that are proactive in addressing sustainability-related risks will gain a competitive advantage and thrive in an uncertain world.  Climate change continues to intensify at home and abroad, and businesses need to identify and address their individual physical and transition risks.  We’ve seen how extreme weather and floods can damage infrastructure and disrupt supply chains while shifting regulations create uncertainty.  To address these risks and build resilience, companies should adopt sustainable practices within their operations and integrate sustainability into their core values and decision-making processes.  Future-focused businesses that adopt sustainability, including social considerations within their strategy, will benefit from greater appeal among talented employees and environmentally conscious consumers. I hope business leaders across Ireland and Europe continue to embrace sustainability as a driver of growth and innovation. There are opportunities to be seized by reducing carbon footprints, adopting green technologies, diversifying supply chains and prioritising responsible stewardship.  Despite all the noise (regulatory and political), the fundamentals of sustainability have not changed. We are living beyond our means; our society needs to change.  Although the sustainability agenda has faced setbacks in some regions due to regulatory and political backlash, the global trend towards adopting sustainability initiatives and reporting continues to progress.  Investment in the energy transition remains strong, cand despite the proposed delay to the introduction of the Corporate Sustainability Reporting Directive in the European Union, many companies are collecting data to ensure the availability of decision-making information.  Those aiming for long-term success will recognise that the broader global momentum driving sustainability is fuelled by market demand and risk mitigation.  With a well-informed sustainability strategy, businesses can protect their bottom line while making a positive global impact.

The Trump-Putin relationship is forcing NATO and the EU to shift from a competitive relationship to a strategic, collaborative mindset, writes Judy Dempsey In the wake of Russia’s 2022 invasions of Ukraine, the North Atlantic Treaty Organisation (NATO) and the European Union have both been forced to reassess their fundamental strategic roles as guardians of Europe as they explore collaborative responses to the crisis.  The real catalyst for this strategic shift is the actions of US President Donald Trump, rather than those of Russian President Vladimir Putin.  Trump has shaken Europe, challenging its long-held belief that the US would always provide a protective umbrella. During his first term as US President, Trump criticised NATO’s European allies for underspending on defence, underscoring a perceived inequity in burden-sharing within the alliance.  Now, he has signalled his willingness to consider withdrawing the US from NATO altogether, questioning the reliability of Article 5, which commits the military alliance to defending any member country under attack.  Not anymore, Trump says—if they have not spent enough on their security. Weakened US support for NATO, or a complete exit from the alliance, would leave the EU vulnerable.   The decades-long transatlantic relationship would be dangerously undermined—a goal of successive Russian leaders.  Trump is doing Putin’s bidding by putting Ukraine’s sovereignty, independence and territorial integrity on the negotiating table. In doing so, the US President has ignored how Russia has repeatedly broken the ceasefire Ukraine’s President Volodymyr Zelensky agreed to in March.  With this major shift in American foreign policy, NATO and the EU, including neutral countries such as Austria and Ireland, must move fast in several ways.  First, the Europeans cannot wait for Trump to weaken his commitment to the alliance. Major NATO and EU countries—Britain, France, Germany and Poland—need to form coalitions of the willing to prepare for an eventual withdrawal of the US from NATO.  NATO’s European ‘caucus’ needs to be strengthened, military capabilities assessed and the expenditure required to compensate for a potential US exit assessed. That won’t be easy, and it will be costly. Second, the EU Commission wants member states to embrace serious defence ambitions, another costly task, requiring time and clear communication with voters.  In the meantime, there is no reason the EU and NATO cannot share capabilities under the special “Berlin Plus” arrangements, giving the EU access to NATO assets and planning capabilities if the alliance is not militarily involved. Such a partnership could serve as a foundation for an EU-led coalition of the willing for Ukraine. Third, in light of the ongoing conflict, it’s crucial for the EU and NATO to increase their military, economic and political support for Ukraine.  NATO’s European members could take over from the US leadership of the Ramstein forum, known as the Ukraine Defence Contact Group. Established in 2022 after Russia invaded Ukraine, its 50 countries provide military support to Ukraine.  Finally, Germany and other countries are discussing Europe’s nuclear powers with France and the UK. This would have been unthinkable a few months ago, demonstrating just how much Trump’s relationship with Putin is upending the transatlantic relationship. Judy Dempsey is Nonresident Senior Fellow at Carnegie Europe *Disclaimer: The views expressed in this column published in the April/May 2025 issue of Accountancy Ireland are the author’s own. The views of contributors to Accountancy Ireland may differ from official Institute policies and do not reflect the views of Chartered Accountants Ireland, its Council, its committees or the editor. 

Key market indicators are flashing warning signs and investors should brace for turbulence, warns Cormac Lucey Timing global equity markets is not an easy task. But when several separate indicators signal caution, it may be time for alarm.  This is currently the situation regarding US equity markets as President Donald Trump launches his much-anticipated tariff wars on America’s allies.  Signal 1: US unemployment rate In the past, when the unemployment rate in the US started to rise after many years of steady falls, it has signalled a shift in the economic cycle, often presaging recession.  The US unemployment rate hit 4.1 percent in February, up considerably from its April 2023 low of 3.4 percent.  According to BCA Research, the investment research company, there has never been a situation in which the three-month moving average unemployment rate has risen by more than a third of a percent—as is now the case—without a recession following. Signal 2: The US yield curve The yield curve depicts the differing interest rates that apply to government debt of varying maturities.  When shorter-term debt yields higher returns than longer-term debt, it is usually the result of central banks raising short-term interest rates too high.  Recession generally follows shortly after the normal state of affairs, where longer-term interest rates exceed short-term rate returns. This normal state of affairs returned last December.  Signal 3: US price/earnings ratio  Right now, the Standard and Poor’s (S&P) forward price/earnings ratio (which compares today’s price to predicted—or forward—earnings) comfortably exceeds 20. That is one of the highest S&P ratios observed in a half-century.  In the past, higher prices have tended to anticipate lower investor returns. Signal 4: US cyclically adjusted price-to-earnings ratio A significant drawback of the conventional price/earnings ratio is that when we compare a highly inflated share price to cyclically inflated earnings, the situation can appear okay.  The cyclically adjusted price-to-earnings (CAPE) ratio seeks to correct this defect by dividing equity prices by their average earnings over the previous decade.  This way, the CAPE avoids the risk that cyclically elevated earnings may make cyclically elevated share prices look normal.  The CAPE ratio currently stands at 36.34 times cyclically adjusted earnings. This puts current equity values among the highest ever recorded.  If return patterns observed in the past are replicated, we might expect real equity returns (after inflation) to come in just slightly above zero over the next 15 years. Signal 5: US price/book ratio  The price/book ratio compares the market price of the equity market to the book value of the net assets on the balance sheets of those companies on the market.  The US market’s price/book ratio is currently higher than it has ever been, even at the peak of the tech bubble in 2000. When we examine our five bear market indicators, we can see that they are each signalling caution, suggesting extreme prudence regarding equity returns in the near future.  This caution is only increasing in response to the trade tensions US President Donald Trump continues to unleash.  Signal 6: US trade tariffs I expect continued turbulence as Donal Trump continues to push the trade tariff agenda he unveiled to the world on 2 April.  We might hope for signs of compromise to lead a relief rally, but the upshot in the first instance has been upheaval in the markets.  While the tariffs may be the catalyst that has unleashed this upheaval, however, it is my view that they are not the ultimate cause of the recessionary/bear market conditions we are seeing emerge in the US.  I don’t expect to see equity markets bottom out until some time later this year or early next. Investor caution Equity markets do not follow a neat pattern. They often overshoot in one direction only to then overshoot in another. Just because six key signals are all neatly pointing in one direction doesn’t mean equities will immediately fall in value. In the medium term, however, it does suggest that future returns will be weak and that investors should be cautious. Cormac Lucey is an economic commentator and lecturer at Chartered Accountants Ireland *Disclaimer: The views expressed in this column published in the April/May 2025 issue of Accountancy Ireland are the author’s own. The views of contributors to Accountancy Ireland may differ from official Institute policies and do not reflect the views of Chartered Accountants Ireland, its Council, its committees or the editor. 

Julia Rowan answers your management, leadership and team development questions I am highly qualified with both general and specialist accountancy qualifications. I work hard to high standards and meet my deadlines. I get on well with colleagues and other stakeholders. Over the past 18 months, I’ve applied for promotion twice, but I have not been successful. Candidates I consider less qualified and experienced than me have instead secured both roles. What can I do to increase my chances of success? You feel you are being overlooked and there are several reasons why this might be happening.  One thing is for sure, however: if you want people to see you in a different light, you need to do something different.  My guess is that people expect high performance from you, so when you deliver, you may be “simply” meeting expectations.  You sound like quite a task-focused person—nothing wrong with that. Any thoughts below are intended to complement, not replace, your task focus. Your question reminds me of an executive I worked with: he shared the same high standards yet also found himself overlooked.  He always downplayed his achievements. For example, at progress meetings, he would simply say “done” in the catch-up as a way to express that he had completed a task. In today’s busy (and often hybrid) workplace, we need to be a little more intentional about how we communicate. “Done” does not cut it.  Marketing people talk about “selling the sizzle, not the sausage” and this may be something you need to focus on. It goes without saying that long stories are not needed, but something like “I sent that out on X date. Three people replied, I’ve followed up with two more and I discovered that…” gives people a little more insight into you.  Task-focused people can come across as impatient, which can be daunting. Moving up in an organisation involves winning hearts as well as minds. Here are a few thoughts about what you can do: Focus on building relationships. This could simply mean taking a bit more time for daily interactions, or it could involve strategically building relationships to increase your visibility. Find reasons to meet with colleagues in person. Share interesting materials when you can. Work on your interview skills. In particular, you may need to build up your achievements (Google ‘competency STARS’), not just in interviews but also during performance reviews. If you haven’t already done so, get feedback on recent interviews.  Ask your manager or others knowledgeable about your field to support you in expanding your skill set. For example, ask them to organise a mentor for you, bring you to higher-level meetings or place you on a project team. You can also attend to this yourself through reading, attending courses, etc. Reflect on how you talk about yourself. There seems to be a perception that, despite your high standards, you are not ready for promotion. Perceptions can take a while to change. Honest feedback from people who have your back may be the most useful input of all. Julia Rowan is Principal Consultant with Performance Matters Ltd, a leadership and team development consultancy. To send a question to Julia, email julia@performancematters.ie

The safe stewardship of the accountancy profession means tackling the challenge of career burnout and prioritising work-life balance for the next generation, writes Dr. Caroline McGroary, FCA Like many professions globally, accountancy strives to be a beacon of excellence, with our members balancing multi-faceted roles as trusted business leaders and gatekeepers of the public interest.  Bestowed by decades of attracting and retaining the world’s brightest minds, this status ensures the safe stewardship of our profession from one generation to the next.  As we sit at this critical juncture in the history of our profession and contemplate our future, we are propelled to consider some of the greatest opportunities and challenges facing our profession and the next generation of business leaders.  In this article, we delve deeper into one such area of interest—namely the attractiveness of the profession to the next generation and the importance they are placing on well-being and work-life balance (or work-life harmony, as it is now commonly referred to). To focus this debate, we explore the concept of burnout, a topic of major concern for those at any stage of their career and one that is firmly on the agenda of well-being teams across professions, particularly in April, during Stress Awareness Month.   Burnout and the next generation The International Federation of Accountants (IFAC) describes accountancy as “the language of business”. While this adage has been true for more than a century, our roles have changed drastically. In addition to providing robust financial information, accountants now assume the role of business leaders, responsible for actively leading and transforming organisations across industries and regions. Despite these changing roles, it has for many years been widely documented that working long hours, enduring stressful working environments and sacrificing personal time for work demands, is an “accepted culture” in the accountancy profession.  This was further reiterated in a recent study by the Association of Chartered Certified Accountants, which asked young accounting professionals about their experiences. Recurring themes in the ACCA’s Global Talent Trend 2023 report included dissatisfaction with pay, a lack of interest in their work, burnout and concerns about work-life balance and flexibility. This work further highlighted that long working hours—previously considered a badge of honour—now act as a deterrent for younger people wanting to join the industry. These views align with Deloitte’s 2024 Gen Z and Millennial Survey which found that work-life balance was the top priority among respondents who believe long working hours drive stress. Based on these insights, we must challenge whether long hours, stress and burnout is an “accepted culture” in our profession and if so, properly consider the long-term effects on ourselves, our colleagues, our profession and the next generation.  We have learned that burnout can prompt early-career accountants to leave their jobs, and even the profession.  Recognising the potential cost of this, we need to gain better insights into the experiences of this group of professionals.  The value of such research was evident in a study of close to 400 junior accountants published in Australia. Researchers Vincent K. Chong and Gary S. Monroe found that role ambiguity and role conflict led to job-related tension for these professionals, which in turn contributed to burnout. This subsequently led to reduced job satisfaction and organisational commitment, with the final stage being intention to leave the profession. The practical implications of this research were the insights it offered into the drivers and outcomes of burnout, and thus the potential means to better support employees and reduce turnover.  Learning experiences of trainee accountants Reflecting on our role as educators of the next generation of our profession, we also need to consider the impact of burnout on the learning experience of trainee accountants. In research conducted at Dublin City University by Professor Barbara Flood (a Chartered Accountant), organisational psychologist Professor Yseult Freeney and I, we uncovered some useful insights.  In our study of approximately 1,200 trainee accountants in Ireland, we found that these younger members of the profession reported feeling “exhaustion” on a regular basis.  This had a negative effect on their ability to attend lectures, and their interest in and enthusiasm for their studies.  Despite feelings of exhaustion, they were committed to cognitively engaging in their studies, however, as they recognised the importance of passing their exams for career progression.  The main concerns emerging from this research included the type of learning taking place at the trainee stage and how these experiences were shaping their view of the profession—some referred to “feelings of resentment”, “anxiety” and “mental drain”.  For Sinead Donovan, past President of Chartered Accountants Ireland, supporting and advocating for the next generation of accountants is a priority. During her term as President, Donovan had as her theme the “next generation” (#nextgen).  She stresses the ongoing need to understand more about the challenges facing younger accountants and their more experienced counterparts, who act as crucial role models. Donovan also expressed concerns about the findings of a recent study commissioned by the Irish Centre for Business Excellence (ICBE) Skillnet on future leaders’ perceptions, motivations, skills and needs. The study revealed that future business leaders are “stepping out of leadership ambition...to avoid burnout at the top”.  “I would challenge the view that leadership roles needed to be overtly busy and always ‘on the edge’ of stress,” Donovan says.  “While I acknowledge that people still need to be pushed and challenged, the key is knowing when this becomes too much.”  The former Chair of Grant Thornton Ireland sees an important step in addressing this problem as “assigning responsibility back to the employer to help understand the challenges facing these future leaders, provide adequate support, and in turn, showcase how leaders can exist, and indeed thrive, without burnout.” Tackling the ill effects of burnout on younger accountants will be “integral to the future of the profession,” Donovan says. Tackling burnout: the employer’s role Donovan’s view is supported by Gillian Bane, a fellow Chartered Accountant and founder of Well Work 360. Bane established the workplace health and wellbeing consultancy in 2023 having herself experienced burnout in her career post-qualification.  “I wasn’t aware at the time that I was experiencing burnout and, in hindsight, had actually suffered multiple bouts before it stopped me in my tracks,” Bane says.  She highlights the importance of employer support and understanding to help tackle the causes and effects of work-related burnout, as well as the stigma that continues to surround mental health in the workplace. “Employee support needs to be much more than offering employees coping mechanisms, such as mindfulness classes,” Bane says.  “It needs to be a combination of supporting the individual with ways of coping, monitoring work design and workload, improving team dynamics and leadership setting the culture at an organisational level.” Supporting resilience in the profession Chartered Accountants Worldwide (CAW) recently launched its inaugural global report into the resilience of the Chartered Accountancy profession—a groundbreaking study conducted by the CAW Wellbeing Taskforce in collaboration with The Resilience Institute.. This report examines the state of resilience and well-being within the profession, drawing on insights from a global survey of 697 Chartered Accountants.  While Chartered Accountants play a critical role in safeguarding financial integrity, the report found that their work often entails significant stress and complexity. “This research highlighted some of the key strengths of the accountancy profession, such as curiosity, adaptability, creativity and a strong commitment to serving clients and colleagues,” says Dee France, Wellbeing and Support Lead at Chartered Accountants Ireland and Chair of the CAW Wellbeing Taskforce. “That said, these strengths lie alongside challenges such as multitasking, avoidance, worry and sleep deprivation, which over time can reduce resilience, lead to burnout, fatigue and impact negatively on mental health.” The profession now has a unique opportunity to lead by example, cultivating workplace cultures in which well-being is not an afterthought but an integral part of daily practice, France says.  Taking action to reduce burnout There is acceptance that burnout is something that can be experienced by anyone, at any stage of their career, in any profession.  It is a multidimensional concept embedded in an ongoing complex psychological process, and associated with a range of consequences that—if not understood and addressed—will negatively impact our profession in the long run.  As accountants, we can clearly make the business case for why this topic is important and needs further attention. Equally, as members of a profession built on a bedrock of trust, integrity, competence and respect for others, we recognise our moral obligation to take action and encourage our many stakeholders to engage in this important debate.    To this end, we seek the support of the accounting profession and other professions, academics, training firms, well-being teams and senior leadership teams to work together to:   Better understand the concept of burnout; Explore the prevalence of burnout across organisations and professions; Seek to understand its root causes and effects; Provide tailored support and resources for those who may be suffering from burnout or “on the edge”; and Challenge the stigma that still exists around mental health and burnout, as well as acknowledging that it can affect anyone. Collectively, we as Chartered Accountants are in a unique position to change the trajectory of our profession when it comes to tackling concerns like burnout.  In doing so, we will continue to attract the brightest minds and empower the next generation of accountants to go forward to lead our profession in the future.  Dr. Caroline McGroary, FCA, is a Lecturer at Dublin City University and a Council Member and Education and Lifelong Learning Board Member at Chartered Accountants Ireland

Pinergy founder Enda Gunnell, FCA, set up his renewable energy start-up in 2012, playing a crucial role in laying solid foundations for Ireland’s sustainable future Groundbreaking energy transition company Pinergy has grown to generate revenues of more than €250 million in little more than a decade by doing things differently, and founder Enda Gunnell sees more room for growth.  “That’s one of the reasons I want to stay in this industry,” he says. “The Irish energy sector is going through a once-in-a-century change and, with this level of change, there is always opportunity.” Embracing change is nothing new for Gunnell, who left behind a highly successful career in practice to set up Pinergy in 2012.  He had initially come to accountancy “through the usual route”, he says. “I qualified with a B.Comm from University College Dublin (UCD) in 1989 and did the recruitment milk round, before being taken on by Mazars.  “That was the last year the B.Comm exams were held in the autumn, and I had had enough of university by that time.” Gunnell didn’t yet know what lay in store, however. “I started my training contract with Mazars and within a fortnight I was back at UCD working on their audit,” he says.  “I spent 23 years with Mazars and was involved with UCD in one way or another for quite a bit of that time. The university then became my landlord when I founded Pinergy.” Gunnell had played a role in helping UCD acquire a building adjacent to the Beech Hill Office Park and helped to develop a strategy to host partnership ventures with industry. “They had some spare space and that was our first office,” he says. Having started his career with Mazars, Gunnell later moved into consulting.  “I thoroughly enjoyed my time with Mazars. I got great exposure to a wide range of clients across different sectors, including large corporates, institutional clients and a lot of owner managed SMEs.  “I was partnering with owner managers who had 50 or 60 people working for them but had no one to talk to. I was that person.” Having been a Partner with Mazars for close to 10 years, Gunnell decided the time was right to try something new.  “I was probably looking for opportunities for a few years by that stage,” he says. “I had got a bit disillusioned with professional services and the timesheets, chargeable hours and so on. Some of the projects I found interesting were not the type of things to earn high fee income in the short term.” At the same time, Gunnell was working with owner managers, helping them to build their businesses. They were, he says, “good people”. “I found myself thinking I would love a chance to do that myself. I hadn’t really thought about what type of business I wanted to go into, I just wanted to get out there and do it.” Entrepreneurial start: the early days The year was 2012, Gunnell was 43 years of age and a Partner with Mazars.  “I figured someone would give me a job if it didn’t work out. I was open to that risk,” he says. Ireland was in deep recession at the time in the aftermath of the financial crash and Gunnell spotted an opportunity in the fledgling pay-as-you-go electricity market.  “The energy regulator was putting pressure on the electricity suppliers not to cut people off, if at all possible,” he explains.  “One of the solutions chosen was to install pay-as-you-go meters in debtors’ homes and collect the arrears through the homeowners’ electricity credit purchases.” Gunnell’s approach was somewhat different. “We used the same technology, but differently. We went into the ‘lifestyle choice’ end of the market,” he explains. “Our market was people who wanted help budgeting. We used the technology to bring the same customer experience people had become used to with pay-as-you-go mobile phone accounts.  “Ireland didn’t have a pay-as-you-go electricity market up until then.  “In the UK, 15 percent of the market was designated as pay-as-you-go and, in Northern Ireland, it was much higher than that.” Although Ireland’s electricity market had been deregulated since the late 1990s, getting a licence to supply power was not easy.  “They said they welcomed competition, but I wasn’t sure if they were really interested in small start-up players like Pinergy,” Gunnell says.  “We partnered with an existing licencee initially and got our own licence from within the industry after that. We are now one of about seven national players in the market.” The licence was just the start. Power supply is a highly capital-intensive business.  “I was very fortunate to have the support of a high net worth individual in the early years of the business. I didn’t have the financial wherewithal to do it myself,” Gunnell says. “At that time and for a long number of years, half my time was spent growing the business and the other half was spent raising the money to fund the growth.” Raising money in Ireland post-crash was no easy task.  “The banks became too conservative. No doubt they gave out money too easily to property developers, but they went to the other extreme after that.  “We did everything to raise finance, from placing ads in newspapers to issuing our own loan notes. It was real shoe leather capital.” Pinergy has evolved considerably in the years since. “The industry is very old-fashioned. Customer loyalty is not rewarded,” Gunnell says.  “The incumbents sign people up for 12 to 24 months at a discount and then jack up the prices. That encouraged people to switch to get a discount somewhere else. We decided to do things differently and run the business from the customer perspective.  “We embraced technology. We were the first electricity company to embrace smart meters.  “Customers didn’t have to go to a shop; they could buy credit online or on their phone and it would go straight onto the meter, while being able to see their consumption on an app.” Paris Climate Accord  The Paris Climate Accord in 2015 gave added impetus to the firm’s growth. “A smart meter is an energy efficiency device. The average home wastes 20 percent of its energy. Smarter users use less,” Gunnell says. “We were a challenger brand and wanted to sell less electricity to customers. The incumbents were in the business of selling kilowatts, but how can they help save energy when their business models are built on selling as much of it as possible?” Pinergy then broadened its offering by going into business with other energy technology providers in areas like micro wind, solar, LED lighting and data services.  Two of those partnerships in the solar PV and data areas are now Pinergy subsidiaries. Energy efficiency and ESG reporting  The next pivot came with the company’s move into the commercial market. “There is only so much you can do in a domestic household. We used our capability in smart metering to bring a new offer to the commercial market,” Gunnell says. “We were able to supply data on consumption along with green, renewable power.  “We help our customers understand their power consumption and why they are using more than you should at different times.  “Our business is about energy efficiency. We are supporting customers through the energy transition and providing them with the data they require for emissions and environmental, social and governance (ESG) reporting.” Commercial business now accounts for 90 percent of the Pinergy portfolio.  “We pulled back a little bit from the domestic market. The State was rolling out smart meters anyway. There was no point in us duplicating that effort,” Gunnell says. Next phase of growth: energy generation Pinergy is about to embark on the next phase of its growth journey following the acquisition of a majority stake in the business by Sojitz group, the Tokyo-based multinational.  Sojitz has acquired the holding of long-term shareholders, the Coates family. “We wouldn’t have been able to achieve our growth ambitions without our previous majority shareholder,” Gunnell says. “The Coates family have been phenomenally supportive of the company and the management team over the years.  “Without their support, we might not have been able to keep going during the energy crisis and we are eternally grateful for that.  “But, to keep going and moving forward in a capital-intensive industry like ours, we need access to funds that can’t be provided by a family office.  “The Sojitz group is a huge company with 25,000 employees and is listed on the Tokyo stock exchange.” Gunnell’s ambition now is to see Pinergy evolve into a vertically integrated company with capacity to generate its own renewable energy.  “To get involved in that in any meaningful way you need hundreds of millions of euros,” he says.  “Sojitz has been in Ireland for 10 years and already has a generating capacity of of almost 250 megawatts. “They are on the same wavelength as us and share our philosophy about partnering with customers in ways that make everyone more sustainable.  “We will now be able to start building our own generating assets.  “We will also broaden out to a dual fuel offering as well as broaden the energy services capability within the business.  “When we have our generating asset base in place, we want to move back into the domestic market.” The future of sustainable energy As Gunnell sees it, the future of energy is all about sustainability. “Energy providers have a key role to play in our sustainable future,” he says. “In the past, it was about supplying power generated by burning dirty fuel. In the future, it will be about minimising consumption of clean, green, renewable power.  “We have been embracing the sustainability agenda at Pinergy for the past 10 years. We will continue to support our customers through the energy transition and help them meet their sustainability and ESG reporting obligations.” Interview by Barry McCall

John O'Loughlin examines the global trade crisis sparked by Trump’s “Liberation Day” tariffs and their sweeping impact on EU exports and businesses US President Donald Trump’s “Liberation Day” announcement marked a significant and historic escalation of the US approach to international trade and tariffs. Exports from the European Union (EU) to the US are now in scope of Trump’s tariffs and some businesses will be significantly impacted by this latest round of measures. Immediate changes and impact  On Wednesday 2 April, the Trump Administration announced wide-ranging “reciprocal” tariff measures. President Trump invoked his authority under the International Emergency Economic Powers Act of 1977 (IEEPA) to address the “national emergency” posed by the large and persistent trade deficit. These measures, imposed on all global trading nations, apply a blanket additional tariff rate on all products imported into the US. As expected, the measures were applied on a country-by-country basis with the following key markets impacted by the following additional tariffs: European Union: 20% United Kingdom: 10% China: 34% Japan: 24% Switzerland: 31% Brazil: 10% Australia: 10% India: 26% South Korea: 25% In addition to the above, a further 60 or so countries will have reciprocal tariffs applied at half the rate they charge the US, according to the Trump administration. These measures are due to be implemented on 9 April. Further to these specific tariffs, all other countries not listed will be subject to a baseline rate of 10 percent, which will be imposed from 5 April and will be in addition to the standard rate of duty (most-favoured nation rate).  The Executive Order imposing the “reciprocal” tariff rates have specifically excluded certain product categories which will not be subject to these new measures. These products include: Steel and aluminium articles already subject to additional tariff measures;  Auto and auto parts already subject to tariff measures implemented on 3 April; Copper; Pharmaceuticals; Semiconductors; Lumber articles; and Energy and certain other minerals that are not available in the United States.  Regarding imports from Mexico and Canada, those that meet the US-Mexico-Canada Free Trade Agreement (USMCA) rules will not be subject to additional tariffs. However, goods that do not meet the rules under the USMCA will continue to be subject to the 25 percent tariffs imposed on 4 March. Trump’s tariffs have created a trade crisis on a global scale affecting companies across all sectors. These tariffs will remain in effect until he determines that the threat posed by the trade deficit— and underlying nonreciprocal treatment—is satisfied, resolved or mitigated. Other tariff measures As announced on Wednesday 26 March, 25 percent tariffs on imports of foreign-made cars came into effect on 3 April. The tariffs will impact cars from all countries with a value-based exception for the US value of cars covered by the USMCA. Additionally, on Monday 25 March, Trump also announced the possibility of a 25 percent additional tariff on countries purchasing oil or gas from Venezuela, with an implementation date of 2 April. As of yet, no tariffs under this measure have been imposed. Further to previous Executive Orders regarding tariffs on imports of Chinese goods, President Trump has signed an Executive Order removing the de minimis treatment for goods of Chinese and Hong Kong origin, effective from 2 May. This order imposes duties on goods valued at or under $800 which would otherwise have qualified for an import duty exemption. USTR Foreign Trade Barriers Report On 31 March, the United States Trade Representative (USTR) published its 2025 National Trade Estimate Report on Foreign Trade Barriers – a wide-ranging report highlighting foreign barriers to US exports, US foreign direct investment and US electronic commerce. Ireland is specifically noted within the report, but references are limited to commentary regarding alcohol labelling and reimbursements related to pharmaceutical products. European retaliatory measures On 12 March, the European Commission announced countermeasures in response to the US tariffs on steel and aluminium products, which it deems "unjustified".  Following a period of consultation, the EU has postponed the implementation of these measures until 15 April. These tariffs range from 10 percent to 75 percent with the majority of products falling within the 25 percent category. Additionally, the EU is set to announce further countermeasures on a wider range of goods. EU reaction On Tuesday 1 April, comments by European Commission President Ursula von der Leyen indicated that the EU is prepared to retaliate against the US, if necessary, in response to Trump's tariff hikes. “Europe has not started this confrontation, we do not necessarily want to retaliate but, if it is necessary, we have a strong plan to retaliate and we will use it,” von der Leyen said. She further emphasised the significance of the US-EU trading relationship, noting that their trade volume is $1.5 trillion and that one million American jobs rely on this trade. Von der Leyen reiterated that Europe is open to negotiations, stating, "We will approach these negotiations from a position of strength. Europe holds many cards, from trade to technology to the size of our market. However, this strength is also built on our readiness to take firm countermeasures if necessary. All instruments are on the table.” Actions for businesses In anticipation of these tariffs, companies have placed significant focus on analysing their own data and scenario planning for the impact of tariffs. With Trump’s announcement, businesses should shift their focus to tariff mitigation strategies and options, including customs origin, valuation and tariff classification. Duty relief programs should also be considered. It is expected that the EU will push ahead with its retaliatory measures and other countries may look to introduce similar measures. Trump’s executive orders also contain modification authority allowing him to increase the tariff if trading partners retaliate, or reduce the tariffs if trading partners take significant steps to remedy non-reciprocal trade arrangements and align with the US on economic and national security matters. John O'Loughlin, Partner, Global Trade and Customs, PwC Ireland

Organisations must reimagine their approach to data protection, mitigating risk and adapting to new regulations in a fast-changing environment. David O’Sullivan explains why As we enter the second quarter of 2025, the data privacy landscape is on the cusp of transformative change. Rather than reacting to headlines, organisations are now compelled to reimagine their approach to data protection, blending strategic foresight with a renewed commitment to ethical stewardship. Here, we outline our top 10 data privacy predictions for the remainder of the year, pinpoint in the key trends that will shape how organisations handle compliance, mitigate risks and adapt to regulatory changes. 1. Changing DPO role in AI governance As artificial intelligence (AI) relies heavily on quality data, data protection officers (DPOs) are crucial in helping organisations understand and use their data effectively. Given the overlap between data protection and AI governance, DPOs are increasingly managing AI compliance and governance. Both roles require the ability to coordinate cross-functional teams and adapt to evolving challenges. 2. Privacy by design and privacy-enhancing technologies  With the growing need for data in AI, protecting that data and transforming it into privacy-enhancing or anonymised formats is becoming ever more essential. These tools enable organisations to benefit from their data while maintaining privacy. Privacy by design is a principle-based approach that is set to become increasingly popular, prompting organisations to review their processing activities in depth, reducing risk and improving compliance management. 3. GDPR compliance frameworks Europe's digital regulations are complex and extensive. Privacy frameworks derived from the General Data Protection Regulation (GDPR) provide a solid foundation for building comprehensive compliance frameworks. These frameworks will be updated to accommodate new compliance requirements. 4. Shifting attitudes toward compliance We saw numerous headlines about data-related fines cropping up in 2024. Regulatory bodies, such as the Data Protection Commission, have intensified their efforts to manage complaints and breaches, putting more pressure on organisations. As consumer awareness grows, driven by global discussions on data privacy, we can expect to see more attention to data protection compliance. 5. International transfers under scrutiny International discussions will lead to greater scrutiny of data transfers. Recent findings by the Court of Justice of the European Union could significantly impact international data transfers, prompting organisations to reassess their practices. 6. Consumer awareness of data subject rights In Ireland, damages have already been awarded for GDPR non-compliance. While this hasn't yet led to a surge in claims, increased awareness will empower data subjects to hold controllers accountable. Organisations may shift their focus from regulators to data subjects. 7. Increase in cookie consent enforcement Cookies, often invasive and disruptive, are under scrutiny. The Data Protection Commission’s review of cookie compliance five years ago highlighted widespread non-compliance. Combined with the European Data Protection Board’s (EDPB) Cookie Banner Task Force and increased action by groups such as the European Centre for Digital Rights, we can expect enforcement actions to ramp up as organisations have now had time to implement recommendations.  8. Proactive approach to processor compliance As privacy programmes mature, organisations will focus on the entire data lifecycle, including third-party processors. The EDPB's opinion on data processors and sub-processors highlights the importance of controllers to ensure compliance throughout the data value chain. This will likely lead to more queries and demands from controllers to processors. 9. Board assurance on data protection With GDPR in effect for seven years, boards are increasingly concerned about data protection risks that extend beyond compliance, driving demand for assurance through audits and certifications, which are rapidly maturing.  10. Greater focus on transparency To empower data subjects, organisations must provide clear and practical transparency notices. Moving away from legalistic, lengthy and obscure notices to more informative ones will enhance transparency and build trust with data subjects. David O’Sullivan is Director of Privacy, Digital Trust and Artificial Intelligence Governance at Forvis Mazars

BlackRock’s 2025 Ireland Read on Retirement survey reveals Irish workers’ retirement anxieties. With auto-enrolment imminent, increased pension awareness is crucial, writes Tim Hodgson BlackRock’s 2025 Ireland Read on Retirement survey offers a revealing snapshot of the retirement landscape for Irish workers. The research exposes significant gaps between the recognized importance of pensions and the actual confidence workers have in achieving a comfortable retirement. Despite 81 percent of respondents acknowledging that pensions are the most effective means of securing a reasonable standard of living, just 41 percent feel they are on track to achieve this goal. The disconnect highlights the urgent need for enhanced financial planning and greater awareness of retirement savings. The survey identified a palpable sense of uncertainty among pre-retirees, aged 60–69, with more than a third uncertain whether their current trajectory will be sufficient to secure a comfortable retirement. This reality reflects broader anxieties within the workforce. It is evident that, while pensions are universally accepted as crucial, tangible readiness varies dramatically among workers, particularly between those with and without Defined Contribution (DC) workplace pensions. Workers lacking a DC pension express significantly less confidence in their retirement preparedness—just 26 percent of those without one feel on track, compared to 59 percent of their counterparts who enjoy the benefits of such schemes. Jumpstarting retirement savings As Ireland prepares for the introduction of the Auto-Enrolment Retirement Savings Scheme, called My Future Fund, the survey’s findings assume even greater significance. Scheduled to roll out in September 2025, this initiative aims to integrate as many as 800,000 Irish workers into an occupational pension scheme, jumpstarting retirement savings for many who have been without work or a private pension. The upcoming scheme is viewed as a watershed moment, a once-in-a-generation opportunity to redefine how retirement savings are approached. More than two-thirds of survey participants indicated a willingness to opt into the scheme during its inaugural year, reflecting optimism about the potential of auto-enrolment to reverse current trends. However, the survey also revealed that only half of workers believe that an employee contribution rate of 4.5 percent is affordable, highlighting significant challenges that remain in the broader context of financial readiness. Generational divide Generational differences further complicate the picture. The survey found that saving for retirement ranks among the top three financial priorities for Pre-Retirees and Gen Xers. In contrast, Millennials treat it as the least pressing concern, placing it last among six financial priorities. This divergence suggests that while older generations are grappling with the immediate need to shore up retirement funds, younger workers may be postponing or deprioritising savings amid other financial demands. Additionally, 43 percent of overall respondents admitted that they should be saving more, and 32 percent felt they had started too late. A similar proportion expressed concern that state pension provisions might fall short once they retire. The research highlights that nearly nine in ten pre-retirees and Gen Xers lack a clear strategy to manage their pension pots upon retirement. A striking majority believe that pension schemes should prioritise guidance to help savers manage the transition from accumulation to decumulation. In essence, while saving for retirement remains a top priority for many, there is an urgent need for enhanced financial education and personalised solutions designed to ease the transition from saving during working years to drawing down those funds in later life. Retirement unease Overall, the insights provided by the Ireland Read on Retirement survey reflect a broader international trend of retirement unease. With initiatives such as auto-enrolment on the horizon, it is imperative that policymakers, employers, and financial advisors work together to bridge the gaps in awareness and affordability. Only then can the promise of a secure and comfortable retirement become a reality for all Irish workers. Exploring these themes further reveals the critical importance of informed financial planning, and it invites renewed discussion on how best to support diverse generations in their unique retirement journeys. Tim Hodgson is Head of UK and Ireland Defined Contribution Platforms and Retirement Solutions at BlackRock

With major tax deadlines ahead, strategic planning is crucial. Suzanne Mcilwaine outlines the changes on the way from 5 April and how to manage them wisely Announcements regarding Inheritance Tax (IHT) in the 2024 Autumn Budget have had a big impact on the business and farming sectors. Similarly, changes affecting individuals who benefit from the UK domicile and residence rules will significantly alter their tax landscape. While these topics warrant separate discussion, it's essential not to overlook several other changes that affect a broader range of taxpayers, as well as the usual considerations for tax year-end planning. To start, maximising annual tax-free reliefs and allowances before the 5 April 2025 deadline is crucial. Individuals have a personal savings allowance of £1,000 or £500, depending on whether they are basic or higher-rate taxpayers (this allowance is not available for additional-rate taxpayers). For those exceeding these thresholds or looking for a tax-efficient approach, the annual individual savings account investment allowance stands at £20,000. Additionally, contributing to retirement savings can yield significant benefits, with effective tax relief of 20, 40 or even 60 percent available on qualifying contributions, depending on individual circumstances. It’s important to review personal allowances and thresholds relevant to pension contributions before taking action. Those uncertain about their state pension position should apply for a state pension forecast and check their National Insurance (NIC) record for any gaps as soon as possible. This is particularly important, as the opportunity to pay voluntary NICs to bridge gaps from April 2006 to April 2016 will expire after 5 April 2025. Key changes to inheritance tax and capital gains tax There are several exemptions to IHT worth noting. An annual gift exemption allows individuals to give away £3,000 per donor, which can be carried forward for one year to a total of £6,000 if not utilised. Additionally, a small gifts exemption of £250 per beneficiary per tax year is also available. Be cautious with gifts of assets, however, as they may have other tax implications, including potential liability for capital gains tax (CGT). As of 30 October 2024, CGT rates rose from 10 to 18 percent for basic rate taxpayers and from 20 to 24 percent for higher rate taxpayers. The annual exemption for taxable gains is £3,000, so it’s important to use it, or you will lose it. Business owners eligible for Business Asset Disposal Relief will also see changes. The CGT rate on the first £1 million of eligible gains will increase from 10 to 14 percent, starting on 6 April 2025, with a further increase to 18 percent beginning on 6 April 2026. If a sale is anticipated, it is advisable to consider timing and pre-sale planning options sooner rather than later. Implications for property owners and investors The special tax treatment provided for Furnished Holiday Lets (FHL) will be eliminated from April 2025, resulting in the loss of favourable CGT treatment, full mortgage interest relief and Capital Allowances (CAs) on qualifying capital expenditures. FHL owners should re-evaluate their rental models; if short-term holiday lets remain a preferred option, they might consider accelerating qualifying capital expenditure to benefit from CAs while they are still available. Finally, for individuals purchasing residential property, the threshold for Stamp Duty Land Tax (SDLT) will reduce from £250,000 to £125,000, effective from 1 April 2025. Additionally, the surcharge on individuals owning multiple residential properties has increased. Therefore, those looking to buy residential property should be clear about their SDLT liabilities and consider whether expediting their purchase could be advantageous. As with all tax planning, it is essential to consider both non-tax and financial implications, rather than focusing solely on the tax landscape. Suzanne Mcilwaine is a Tax Manager at Grant Thornton in Northern Ireland

As Irish businesses navigate economic uncertainty and technological disruption, Ger Twomey explores key insights from PwC and the WEF on future workforce challenges Irish organisations, like their global counterparts, are facing unprecedented transformation as they navigate technological disruption and economic uncertainty. As such, understanding the future of work has become critical.  The World Economic Forum’s (WEF) Future of Jobs Report 2025 and PwC’s 28th Annual CEO Survey offer valuable insights into the evolving labour market. Drawing on data from over 1,000 leading global employers and close to 5,000 CEOs worldwide, these reports provide a roadmap for Irish organisations and employees preparing for the changing landscape of work. If Ireland’s workforce was represented by just 100 people, 67 would require further training by 2030. To break this down further: 31 could be upskilled within their current roles; 25 could be upskilled and redeployed within their organisations; and 11 would be unlikely to receive the necessary upskilling, putting their future employment at risk. This analogy paints a stark picture of the strategic workforce challenges organisations will face in the coming years. An evolving labour market The WEF's Future of Jobs Report 2025 projects significant changes in the global labour market, with 22 percent of today’s total jobs expected to be affected worldwide. This encompasses both job creation (equivalent to 14 percent of today's employment) and displacement (equivalent to 8 percent of current roles). This dynamic shift is characterised by two key trends. First, frontline jobs in sectors such as farming, construction, food processing and sales are expected to experience the largest growth in volume. Second, technology roles are anticipated to be the fastest growing by percentage. Among the roles poised for rapid growth are big data specialists, fintech engineers, artificial intelligence (AI) and machine learning experts, software developers and professionals in green transition and renewable or environmental engineering. This evolving landscape underscores the critical need for organisations to invest in developing relevant skills. Skills demand The evolution of the job market is driving significant changes in the required skills. The “skill instability” rate of 39 percent suggests that by 2030, two in five workers will need to transform their existing skill sets or risk obsolescence. Skills gaps have emerged as the primary barrier to organisational transformation. In Ireland, 75 percent of respondents identify this as a major challenge for the next five years, compared to 63 percent globally. This concern is echoed in PwC's CEO Survey, in which 91 percent of Irish CEOs express concern over skills availability. There are several skills that appear to be in demand: Analytical thinking remains the most sought-after skill, with 70 percent of organisations deeming it essential by 2025; Resilience, flexibility, agility, leadership and social influence are also core skills; and AI and big data top the list of fastest-growing skills, followed by technology literacy and cybersecurity. Notably, Ireland ranks most of these skills higher in importance than the global average. However, despite the emphasis on AI skills, only one-third of CEOs plan to integrate AI into their workforce and skills strategy, according to the PwC CEO Survey. Navigating the future of work The World Economic Forum's Future of Jobs Report 2025 and PwC's CEO Survey offer crucial insights into the evolving landscape of work. These findings provide a roadmap for Irish businesses to build a resilient, adaptable and inclusive workforce ready for future challenges and opportunities. The global work environment is increasingly complex, influenced by factors such as: Growing geo-economic fragmentation; Rising cost of living; and Widespread adoption of AI tools. Despite these challenges, the outlook remains net-positive for employment. The rate of skills obsolescence is falling, thanks to successful reskilling, upskilling and redeployment initiatives implemented in recent years. Employers across various industries demonstrate a greater awareness and proactivity in addressing workforce challenges. However, skills gaps persist as the primary barrier to transformation. Future priorities are likely to include facilitating proactive and dynamic job transitions, as well as balancing deeper automation with broader workforce augmentation. By embracing these insights and taking decisive action, Irish businesses can position themselves at the forefront of the evolving work landscape, ensuring their workforce is well-equipped for the future. Ger Twomey is Director of Workforce Consulting at PwC

M&A activity in Ireland is growing, but post-transaction disputes continue to be a risk. Clear SPA drafting, due diligence and dispute resolution mechanisms are key to safeguarding deal value, writes Simon Rattigan Currently, there is a sense of positivity surrounding mergers and acquisitions (M&A) activity in Ireland. We saw an increase in private equity-backed transaction activity in 2024 and this is expected to continue this year. The lowering of interest rates will make financing deals more affordable, and Ireland will remain an attractive location for foreign direct investment (FDI). Increased deal activity is encouraging for the economy, but transactions are not without risk, and post-transaction disputes remain a persistent factor in the M&A landscape. Disputes Buyers and sellers generally have different financial incentives, often leading to disputes when expectations set during the deal-making process are not met in the post-closing phase. To help safeguard deal value, it is important to understand the main types of disputes that can arise, including completion account disputes, earn-out disputes and breach of warranty claims. Completion account disputes When completion accounts are used for a transaction, they are typically prepared by the buyer, incorporating adjustments to working capital and other balance sheet items, as specified in the sales and purchase agreement (SPA).  While this mechanism adds complexity, it is generally favoured by the buyer because it provides an opportunity to test the balance sheet, which is appropriate where performance and/or working capital is volatile. Working capital disputes commonly arise when there is a lack of clarity regarding the accounting hierarchy in the SPA, which typically outlines the order of precedence. Issues can arise when: The SPA prescribes a valuation approach for inventory that is not in accordance with Generally Accepted Accounting Principles (GAAP). The SPA states that bad debts should be fully provided for but does not clarify how they will be identified. The SPA requires the application of certain accounting policies but does not specify how judgment under those policies should be applied. The SPA is contradictory – for example, it requires completion accounts to be prepared consistently with historical accounts and practices, as well as in accordance with GAAP. This causes a challenge if historical accounts are not in accordance with GAAP. If the accounting hierarchy in the SPA is unclear, the scope for interpretation and, therefore, disagreement between the buyer and seller increases. Earnout disputes Earnouts are increasingly common features of purchase agreements, where part of the consideration paid to the seller is contingent on measurable, post-closing financial performance targets, such as earnings before interest, taxes, depreciation and amortisation (EBITDA). Earnouts are tailored to each deal and are generally favoured by buyers as they reduce uncertainty and offer cash flow benefits. However, disputes can arise when there is ambiguity in the SPA language regarding calculation methodology or the order of precedence of the accounting hierarchy. This can give rise to issues if there are changes in accounting polices during the earnout period or if the earnout calculation departs from specific accounting policies adopted for other reasons (i.e. preparing accounts for audit). Breach of warranty claims During a transaction, the seller will typically make representations to the buyer about the company regarding material financial, operational, legal, and compliance matters. Disputes can arise from factual misstatements made by the seller, which only come to light post-closing, caused by, for example: Material undisclosed liabilities; Status of key customer relationships and contracts; Compliance of financial statements with GAAP; Undisclosed legal or employment issues; and Fraudulent activity by management or employees. Where factual misstatements are identified post-closing, the buyer may seek to recover losses from the seller if it has suffered financial and/or reputational damage. As post-transaction disputes look to be on the rise, it is important to consider both prevention and cure. Mitigation Avoiding disputes is always preferable, and the risk of earnout disputes and completion account disputes can be mitigated with robust drafting of the SPA: that avoids flexibility/judgement in calculation methodologies; is specific in terms of accounting policies and assumptions; and establishes a clear accounting hierarchy. While misrepresentations may not be preventable, a robust due diligence process can help mitigate certain risks associated with a transaction. However, buyers often only gain full access to the financial and operational information when they take ownership. Post-closing reviews can help buyers identify issues at an early stage, minimise the disruption to the business, quantify the financial impact, and understand legal remedies available. Dispute resolution Disputes can still arise even with a well-drafted SPA, which is why dispute resolution clauses should introduce a level of certainty to the determination process. In most cases, the SPA will refer the matter for independent expert determination, but it is important that these clauses: Establish a clear expert selection mechanism; Preferably, identify the expert, not just the firm. Alternatively, they should be as specific as possible in identifying the required expertise; Clearly establish and limit which items can be disputed; Ensure the role of the expert is clearly defined, and the scope is within their area of expertise – i.e. an accounting expert cannot determine a point of law; and Clearly outline the dispute resolution procedure, including specific timelines. As deal activity in Ireland is expected to grow, post-transaction disputes remain a significant risk. To protect against these risks, businesses should prioritise the robust drafting of SPAs and ensure that clear dispute resolution mechanisms are in place to minimise business disruption. Buyers should also consider conducting post-transaction reviews at an early stage to investigate areas of risk or concern following the deal closing. Simon Rattigan is Director of Forensic and Investigation Services at RSM Ireland

Paul Guess explores how work stress can strain relationships and shares his advice on protecting your personal life from the impact of professional pressures Being on top of your tasks all the time sounds like a good thing. However, if you're glued to emails, drowning in deadlines and thinking about work 24/7, your relationship might be paying the price. In today’s fast-paced world, our careers can quickly spill over into our personal lives. In fact, 71 percent of people report that work stress has led to a relationship breakdown or divorce, demonstrating the potentially devasting consequences of demanding jobs.  Long hours, constant pressure and the mental strain of high-stress careers in professions such as accounting can push relationships to breaking point.  Recognise the warning signs We’ve all been there—juggling work deadlines, emails and endless tasks—but when that stress begins to creep into your relationships, the warning signs can be hard to ignore. You might tell yourself, “It’s fine, I’m just busy,” but this can create an emotional distance between you and your partner which can build over time.  In a recent report on burnout published by the Chartered Accountants’ Benevolent Association (CABA), more than half (54%) of respondents reported that feelings of burnout were affecting their ability to maintain a healthy work-life balance.   Burnout can make you feel more irritable, anxious or even detached, leading to more tension and miscommunication with your partner. Conversations become harder and you may just feel disconnected altogether.   For a busy accountant, there are often short periods of high stress, but when this pressure is prolonged over a period of months, the impact it can have on a relationship becomes evident. If you find your love life suffering because of work pressures, there are ways to keep things in check.    Set clear boundaries: It’s important to carve out time during your day when work can’t take over. Set boundaries at work and stick to them. Protecting your downtime is crucial for your mental health and your relationship.  Prioritise quality time with your partner:  It can be tough, but even small gestures like cooking dinner together, going for a walk or just talking about your day, can help you reconnect. It’s all about finding that balance between work and your personal life.  Practice open communication: If work is stressing you out, don’t keep it to yourself. Be open with your partner about what’s going on and how it’s affecting you. This way, they are not left in the dark, and they can offer support when you need it most.  If you are feeling overwhelmed, the first step is to acknowledge it and then talk to someone. Whether it’s talking to family and friends, or seeking professional support, relying on others can make a huge difference.   Next, see if you can implement helpful strategies, such as managing your workload or giving yourself small treats like going for a walk, or watching some football, for example. By setting boundaries, prioritising quality time with your partner and asking for help when you need it, you can make sure work stress doesn’t take over your life. Take proactive steps to protect both your career and your relationship—you’ll be better for it in the long run.  Paul Guess is a mental wellbeing expert at CABA

Russell Smyth explores KPMG’s latest research, revealing generational divides and public scepticism about Ireland’s capacity to meet our ambitious climate goals People are central to Ireland’s Climate Action Plan, yet KPMG research reveals that more than half (56 percent) continue to be concerned about climate change, down by just four percent from 60 percent in 2023. Climate concern is particularly notable among younger adults aged 18 to 34 and people aged over 65, with 62 percent in each group expressing unease.  In contrast, just 46 percent of those aged between 45 and 54 report similar levels of concern, suggesting a potential generational divide in attitudes toward climate change and Ireland’s capacity to tackle it effectively.  Twenty-six percent of the respondents we surveyed, meanwhile, do not believe efforts or plans to reduce emissions will be sufficient to meet Ireland’s Climate Action Plan goal. Fewer than one in 10 (six percent) believe Ireland will reduce emissions by 51 percent by 2030 in line with the current Government target. Thirteen percent consider this target to be completely unattainable, highlighting significant scepticism concerning Ireland’s ability to fulfil our climate commitments.  Clear and transparent communication With Ireland expected to cut total greenhouse gas emissions by up to 29 percent by 2030, the public scepticism captured in our research raises questions about the perceived effectiveness of current strategies and policies.  Our findings also underscore the urgent need to educate and engage communities on the role they can play in Ireland’s journey towards net zero. Instilling confidence in our ability to meet our decarbonisation targets requires clear and transparent communication and concrete actions that can deliver measurable progress. The power of data centres Data centres offer a promising opportunity to help transform Ireland’s energy sector. The transition towards renewable energy sources is key to reducing Ireland’s dependence on fossil fuels and achieving our net zero commitments. A prime example of this is the critical role data centres could play. Ireland’s rapidly growing data centre sector—if powered by renewable energy—could be crucial to achieving net zero emissions.  Data centres consume a lot of electricity. However, with proper investment and strategic planning, they could also help to drive demand for renewable energy, helping to balance the grid. Data centres with energy storage capabilities could store surplus renewable energy during peak generation periods, for example, and release it back to the grid during times of high demand. This would support grid stability and maximise the use of renewable energy resources.  Accelerating the transformation of the electricity sector will be crucial to supporting decarbonisation efforts across other industries. If powered by renewable energy, data centres could become a critical component of Ireland’s net zero strategy. They have the potential to meet higher demand for electricity while also providing essential services to businesses and consumers. Data centres also present a rare opportunity to attract inward investment from some of the world’s leading companies.  Stakeholder management Recognising the potential for renewable energy to drive Ireland’s decarbonisation will require significant investment in sustainable energy infrastructure, including greater wind and solar energy capacity and the development of adequate energy storage solutions. Collaboration among all stakeholders, including government, businesses and communities across the country, will be fundamental to ensuring data centres positively contribute to Ireland’s decarbonisation efforts.  Educating and empowering these groups to adopt sustainable practices will be critical. By making incremental changes—such as improving energy efficiency at home and work, supporting renewable energy initiatives and adopting low-carbon behaviours and technologies —every sector and citizen could potentially contribute to helping Ireland achieve our climate goals. Russell Smyth is Partner and Head of Sustainable Futures at KPMG