Sustainability

In a unsettled world in which global temperatures continue to rise, accounting for sustainability has never been more important, writes Susan Rossney  On 26 February 2025, the European Commission proposed changes to the laws governing, among other things, sustainability reporting.  Regardless of any changes to sustainability reporting legislation, there will be little let-up in the momentum of the sustainability policy developments impacting those accountants working to embed sustainability in company strategies and operations. Accountants and sustainability  ‘Sustainability’ is a broad term, defined in 1987 by the United Nations (UN) as: “meeting the needs of the present without compromising the ability of future generations to meet their own needs”.  Financial professionals often describe it as ‘ESG’—i.e. measuring an organisation against specific environmental, social and governance metrics.  The need to gather the data required to measure business performance, and allow investors to compare businesses, is one of the many reasons sustainability has become increasingly important for accountants.  Even before the introduction of legislation compelling disclosure of sustainability information, however, many businesses had been working hard to integrate sustainability into their operations. This is partly because it makes good business sense—reduced energy costs being just one of them—but also because businesses are run by and for people who appreciate that businesses depend on a functioning society. And society, in turn, needs functioning ecosystems—energy, raw materials and a healthy workforce with access to clean air, clean water, food and security.  The risk of the ‘wicked problem’  Climate change and biodiversity collapse are archetypal ‘wicked problems’, a term coined in the 1970s by design theorists Horst Rittel and Melvin Webber. Wicked problems describe planning and social policy problems that seem difficult or impossible to solve. They resist resolution. Like Whac-A-Moles, you hit one part of a wicked problem on the head and another one pops up to surprise you.  Solving wicked problems requires thousands of stakeholders to do “everything, everywhere, all at once,” as UN Secretary-General António Guterres has put it.  With all indicators pointing to a relentless rise in global temperatures, both mitigation (reducing harmful emissions) and adaptation (adapting to the effects of climate change—wildfires, floods, droughts, migration, costs etc) have never been more necessary for businesses to mitigate risks.  Systemic risks Systemic risks are the widespread and interconnected threats posed by the climate and biodiversity crises to the stability of financial systems and the global economy.  These risks include the world reaching so-called ‘tipping points’—levels of global warming and rising sea levels from which there is no return, for example.   A report commissioned by the European Central Bank in 2022 found that climate risk could substantially amplify losses in an interconnected financial system of banks, investment funds and insurers.  In a report published in December 2024, the European Central Bank and the European Insurance and Occupational Pensions Authority warned that climate change is increasing the frequency of natural disasters, resulting in multibillion euro costs left uncovered by insurance.  In January 2025, global reinsurer Aon disclosed that economic losses resulting from natural disasters in 2024 totalled $368 billion, marking 2024 as the ninth consecutive year of losses exceeding $300 billion.   Physical risks The physical risks to businesses can be both acute and chronic.  An example of an acute physical risk is a wildfire, such as the Los Angeles wildfires that took place in the US in January, which are likely to be one of the costliest natural disasters in US history.  A chronic risk could be a drought, such as those that cause water shortages in regions in which semiconductors are manufactured—a core component of enabling technologies critical to economic growth, national security and global competitiveness.  Along with the loss of life and suffering of those caught up in these physical events and their immediate and long-term aftermath, there are also risks to business. These include damaged assets, raw materials shortages, environmental degradation (such as those affecting tourism industries), resource scarcity, supply chain disruptions and business interruption.  Transition risks In the context of business and climate change, transition risks are the financial and operational uncertainties businesses face in the shift towards a low-carbon economy.  These transition risks include fluctuating costs and secure energy supply as the economy and societies transition to net zero. They also include increased operating costs for waste management and insurance and exposure to carbon tax liability, which is expected to rise to €100 per tonne of CO2 emitted in Ireland by 2030.  Recent reports from the World Economic Forum warn that climate inaction could cost businesses up to seven percent of annual earnings by 2035. Other risks include reputational risk and a threat to a company’s ‘social licence to operate,’ as well as legal challenges.  In 2024, London’s Grantham Research Institute on Climate Change and the Environment reported that there are 2,666 ongoing climate litigation cases globally, noting a rise in the number of climate cases filed against companies. Another transition risk for businesses is their potential inability to secure lower-cost funding, as lenders and investors increasingly seek information on sustainability-related risks.  Equally, a company’s existing products or services could become obsolete in the transition, while competitors may gain an advantage by adopting new technologies and attracting or retaining valuable talent as more and more candidates vet companies’ ESG credentials before deciding to join or remain with a business.  This shift in preference towards more sustainably run companies extends to an organisation’s ability to tender for contracts, particularly in the public sector with the rise of green public procurement practices. In Ireland, for example, the Government published Buying Greener: Green Public Procurement Strategy and Action Plan 2024-2027 in April 2024 with the aim of driving green and circular procurement practices across the public sector. With annual public sector purchasing accounting for 10 to 12 percent of Ireland’s gross domestic product, this plan will likely influence a significant portion of economic activity and demand.  Regulations and policies Businesses must carefully consider sustainability-related regulations and policies that affect every level of the economy, from international to local. At the international level, treaties such as the Paris Agreement and the Kunming-Montreal Global Biodiversity Framework join supranational policy initiatives, such as the EU Green Deal and EU Biodiversity Strategy, to ensure specific climate action and biodiversity protection commitments cascade to the national policy level.  Sustainability is one of the core pillars of Northern Ireland’s 10X Strategy where the Climate Change Act (Northern Ireland) 2022 requires at least 80 percent of electricity consumption in the region to be from renewable sources by 2030.  The Northern Ireland Executive’s Programme for Government 2024-2027, Our Plan: Doing What Matters Most, prioritises the development of a globally competitive and sustainable economy while also focusing on protecting the environment.  The UK government recently published its National Biodiversity Strategy and Action Plan in which it commits to achieving all 23 targets of the Global Biodiversity Framework at home. More recently, the UK government published the Department of Agriculture, Environment and Rural Affairs’ Corporate Plan for 2025-2027 which sets a strategic direction for its path towards a transition to a net-zero, nature-positive future. Ireland has implemented similar policies to achieve its climate and biodiversity targets through successive Climate Action Plans and sectoral targets for emissions. Additionally, under the fourth National Biodiversity Action Plan, a key objective is to engage 900 businesses in the Business for Biodiversity Ireland initiative by the end of 2025.  Other measures will prevent companies from making misleading claims about the environmental merits of their products and services, while also helping Ireland to transition to a circular economy.  Achieving the legally binding climate targets established under the Climate Action and Low Carbon Development Act 2021, which aims to ensure Ireland meets its national emissions reduction targets, is critical from both a financial and a climate perspective.  In December 2024, the Irish Fiscal Advisory Council (IFAC) warned that the climate transition poses Ireland’s second largest budgetary challenge, second only to our ageing population.  In a 2025 joint report with the Climate Change Advisory Council, IFAC estimated that failure to meet our climate targets would incur penalties of up to €8 billion for Ireland and €26 billion for Europe. Alongside these policy developments, businesses will be required to gather more climate, nature and biodiversity information this year and beyond — and accountants in  the public and private sectors will play a critical role in managing it.  In a shock-prone world where all indicators point to a relentless rise in global temperatures, accounting for sustainability has never been more crucial.  Chartered Accountants Ireland’s Sustainability Centre offers guidance and resources for businesses. Additionally, members can subscribe to the Institute’s fortnightly Technical Round Up and weekly Sustainability/ESG Bulletins, both included in the weekly Chartered Accountants Ireland newsletter, and on LinkedIn.    Susan Rossney is Sustainability Advocacy Manager at Chartered Accountants Ireland

As the founder of Bleeper, the Dublin-based bike sharing venture, Hugh Cooney, FCA, is playing a crucial role in supporting and promoting sustainable travel in the nation’s capital A 2016 trip to China prompted a career change for Chartered Accountant Hugh Cooney who would go on to launch Bleeper, his Dublin-based dockless bike rental start-up, the following year. “It was when I was in China that I saw the world’s first standalone bike-sharing scheme,” Cooney explains.  “Up until then, it was all bikes at fixed locations. These standalone bikes each had smart locks which were opened by an app. I really liked the concept, and I spent the next four months or so looking at how to bring it to Ireland.” Path to accountancy His foray into sustainable entrepreneurship wasn’t Cooney’s first career shift. Prior to his 2016 trip to China, he had already lived in Shanghai for five years, working for property developer Treasury Holdings, before returning home to train as a Chartered Accountant. “I moved back to Ireland in 2010. The jobs market was tough at the time due to the global financial crisis. I didn’t want to stick with the property business and decided to add a qualification to my CV. I had always been interested in accountancy and had studied it at college,” he says. “I saw that Chartered Accountants Ireland had launched its Elevation Programme in 2009 to enable people to become Chartered Accountants without a training contract.  “I thought it would be perfect for me and signed up for it in 2010. I got a job in PwC’s corporate finance division, did my Final Accounting Exams in 2013 and became a qualified Chartered Accountant.” A subsequent role with KPMG saw Cooney working on aspects of the Irish Banking Resolution Corporation (IBRC) administration.  “I joined KPMG in 2014 and worked on the sale of IBRC non-performing loans in their transaction services division. We had to get the loan book into a condition where buyers were happy with the information provided,” he says. Then came that lightbulb moment in China and the launch of Cooney’s Bleeper business: “I left KPMG in April 2017 and Bleeper opened for business soon after,” he says. The birth of Bleeper The name for Bleeper came to Cooney one day as he was walking past the Luas stop on Dublin’s Harcourt Street.  “I heard the ‘ding ding’ sound of the Luas. The bikes make a bleep sound when they are unlocked, so I decided to call it Bleeper.” Start-up finance came from a mix of sources. “At the start, I had a joint venture with a Chinese company. They contributed the bikes and I raised money from friends and family as well. We started with a thousand bikes and the Chinese company also made the software we used.” Having the bikes, software and finance in place was just the beginning, however. It’s not possible to simply start a bike-sharing business in a city like Dublin without some form of permit or licence.  For Cooney, this ultimately came down to the introduction of a set of bylaws by Dublin City Council.  “Dublin city centre is so complex and there is such competition for road space, Dublin City Council needed to put some rules around it,” he explains, paying tribute to the speed with which council officials and elected members of the Strategic Policy Committee approved the bylaws.  “It usually takes a few years, but they started working on the bylaws in June 2017 and they were approved the following December.” The council then ran a competition for two licences, one of which was awarded to Bleeper. “We were allowed to put our first bike in the Dublin City Council administrative area in June 2018,” Cooney says. Regular Bleeper users can buy a pass, while less frequent users can pay as they go. The pay-as-you-go rate is €1 to unlock the bike and four cent per minute thereafter.  “Our average trip is 17 minutes, and most people pay us €1.68. Under the bylaws, the bikes have to be locked to a public bike rack,” Cooney explains. “We are fined if they’re not locked to the racks, and we pass that on to the customer concerned. There is a chain on the bike which they use to lock it to the rack. Compliance is very good—less than one percent of users don’t follow the rules.” Since its launch, Bleeper has grown to include electric bike leasing and sales divisions. “People can lease a bike just like a car,” Cooney says.  “They pay by the week and can give it back at a week’s notice. We found that some customers want to buy an electric bike, but they are not cheap. The entry level is €2,000 and they can go right up to €5,000.  “We opened a shop on Lower Bridge Street and people can come in and take a bike for a test ride before they buy. Business is good and we’ve been profitable for the last couple of years. We are growing revenue every year and hope to continue on that path.” Mobility Partnership Ireland Bleeper was one of the founding members of Mobility Partnership Ireland (MPI)—a coalition of shared transport providers launched four years ago—and Cooney was recently elected as MPI Chair for the year ahead.  “MPI started with three member firms, including ourselves, Moby and Yuko. We had realised that all commercial operators in the sustainable transport space were meeting the same State officials. It was time-consuming and inefficient. We decided to come together as a collective for lobbying purposes and to promote sustainable transport generally,” Cooney says. Definitions of sustainable transport can vary. “For me, it is anything that is not a single passenger car journey. A car with four people in it isn’t unsustainable. Anything that is not a single occupancy car journey can be sustainable. “If you read the Climate Action Plan, the goal is to enable 500,000 daily sustainable travel journeys by 2030. It’s not realistic to ask people to give up their cars. People have lots of reasons to hold onto their cars.  “But, if it’s a sunny day, we can get them to ask themselves if they need to drive to work that day. It’s not about whether people have a car or an electric vehicle. It’s about the amount of time they use it.” Promoting sustainable transport Cooney believes more should be done to promote the sustainable travel targets set out in the Climate Action Plan. “I don’t see the Government advertising their Climate Action Plan target for sustainable journeys. They need to get out there and break the target down into smaller steps,” he says. Commercially operated sustainable transport services should be supported as part of the this, Cooney adds.  “A lot of people think public transport is publicly owned and funded but there are lots of alternative commercial providers,” he says.  “It needs a bit of a shift in mindset. All of the incentives and subsidies tend to go to publicly owned services, but more consideration needs to be given to commercially operated sustainable transport services.” Since its launch four years ago, MPI has grown to eight member firms, including Aircoach and FreeNow.  “Our plan is to work closely with the Minister for Transport and the National Transport Authority as one group. We want to break down the ‘us and them’ mentality that currently exists,” Cooney says. “We can easily get to the 500,000 trips target in sustainable transport if we all work together, and I believe we can get way more than that if commercially operated sustainable transport services are supported. “We want to work with the government to get more people out of the default habit of jumping in the car for every trip.” It isn’t always easy to get these ideas across to Government, however. “The process of making pre-budget submissions is very costly and time-consuming for businesses,” Cooney points out.  “You don’t get written answers or clarity on why proposals have not been accepted. There should be a downloadable template on the Department of Finance website. That would make it easier for businesses to make submissions and easier for the department to run the process.  “It’s not unreasonable to ask that they make it easier and to give people feedback on their submissions. We have put forward ways of encouraging people to use alternatives to their cars but haven’t got any response.” On a more positive note, Cooney sees lots of potential for Bleeper to grow.  “Less than six percent of people in Dublin commute to work on a bike. In Amsterdam and Copenhagen, it’s closer to 50 percent. The government target for Ireland is 15 percent. Our goal is to play a big role in reaching that target,” he says. Interview by Barry McCall

Dee Moran, FCA, explores the potential impact of the European Commission’s much-anticipated Omnibus package on the Corporate Sustainability Reporting Directive  26 February 2025 felt like doomsday for many immersed in sustainability. After weeks of rumours, the European Commission published its first Omnibus package of simplification measures for sustainability reporting and regulation. If approved, these measures will substantially water down the Corporate Sustainability Reporting Directive (CSRD), Corporate Sustainability Due Diligence Directive, Carbon Border Adjustment Mechanism and EU taxonomy for sustainable activities.   In publishing the proposals, the European Commission noted that they would enable businesses “to grow and create quality jobs, attract investments, get the necessary funds for their transition towards a more sustainable economy and help the EU meet the Green Deal’s ambitious objectives”. Many in the profession were dismayed by the introduction of the new CSRD simplification proposals, however, particularly those that had just published their 2024 annual reports with the required environmental, social and governance (ESG) information included for the first time.  Their companies have invested heavily in sustainability reporting and, depending on their size, could now potentially fall out of scope of the CSRD under the new proposals.   Their less prepared counterparts, meanwhile, will have felt some relief that their own tardiness in starting their sustainability journey and preparing for CSRD reporting has been rewarded. So, where does the Omnibus package leave the future of CSRD reporting? Some of the proposed amendments are outlined here, with a short analysis for each. Timeline: two-year delay The Omnibus measures propose delaying the deadline for CSRD reporting by two years—to 2027 for wave two companies, and 2028 for wave three. The two-year ‘stop the clock’ proposal has generally been welcomed as it would give companies more time to prepare for CSRD reporting.  There are concerns among some, however, that the two-year delay is too long, with some maintaining that a 12-month lag would have been more effective in maintaining momentum. Budgets are already approved for next year, but securing the budget for a second year might be more challenging.   Overall, however, the proposed delay is being viewed as a welcome means to provide a much-needed breather for companies.  Threshold: employee numbers The European Commission’s Omnibus package proposes raising the threshold for numbers employed by companies in scope of the CSRD from 250 to 1,000 (and either a turnover greater than €50 million or balance sheet total exceeding €25 million). This proposal would reduce the number of companies in scope of the CSRD across Europe by about 80 percent—from 50,000 companies down to about 7,000.  The 7,000 figure is also substantially lower than the 11,000 companies obliged to report under the Non-Financial Reporting Directive.  The higher employee threshold proposal has met with varying reactions in the profession, with many expressing that 1,000 goes too far, and that 500 employees and above would be more proportionate. This will no doubt be debated at length in the months ahead.  It is worth pointing out, however, that companies that would not fall in-scope of the CSRD under the new proposed threshold may still opt to voluntarily adopt the proposed standard. Voluntary SME standard The Commission has proposed that it will adopt, by way of a delegated act, a voluntary sustainability reporting standard (VSME) to facilitate reporting of sustainability information by companies that are not in-scope for the CSRD.  This will be based on the revised voluntary sustainability reporting standard for non-listed micro, small and medium enterprises (VSME) submitted by the European Financial Reporting Advisory Group (EFRAG) to the European Commission in December 2024. Value chain cap The Omnibus measures propose the introduction of a ‘value chain cap’. This move would serve to limit the information CSRD reporters can request from non-CSRD reporters in their value chain with fewer than 1,000 employees. They would not be permitted to request any information exceeding that specified in the revised VSME. While this proposal could potentially diminish the comprehensiveness of sustainability reports, it would also reduce the sustainability reporting burden on smaller companies and—provided that the revised VSME standard is comprehensive—should still provide companies in-scope of the CSRD with the value chain information they need. Reasonable assurance standards The requirement to have assurance on a sustainability report is a fundamental part of the CSRD, with limited assurance in the first instance and the potential to move to reasonable assurance following a review.  The Omnibus package seeks to remove the requirement for reasonable assurance as a means to streamline the reporting process, while also maintaining some oversight.  This proposal has been largely welcomed as it would reduce the cost of compliance for CSRD reporters and would also be less burdensome.  Some stakeholders have, however, voiced concerns that removing the need for reasonable assurance over the longer term may compromise the trustworthiness and reliability of data.  Investors, in particular, have been vocal about their need for accurate data to reduce the risk of greenwashing. Reasonable assurance would provide an additional level of comfort. European Sustainability Reporting Standards The Omnibus package commits to simplifying the European Sustainability Reporting Standards (ESRS), including a reduction in the number of data points, clarification of provisions deemed unclear and an improvement in consistency with other pieces of legislation. With in excess of 1,100 data points, the volume and complexity of the ESRS has raised many concerns, and Chartered Accountants Ireland was critical of the high number of ESRS data points in our response to the initial public consultation on the draft ESRS.  The Omnibus proposes to simplify the ESRS by reducing the number of data points and focusing on qualitative over quantitative information.  The Commission has asked EFRAG to commence the work of simplifying the ESRS and to provide their technical advice by 31 October 2025. It is important, however, that sufficient time is allowed for proper consultation with stakeholders. Sector-specific standards The Omnibus proposal reverses the existing plan for sector-specific standards to be developed and adopted by the European Commission, a move that would have increased the number of data points required for CSRD reporting.  Again, there are varying views on this proposal in the profession. Some maintain that sector-specific standards would lead to more relevant and meaningful disclosures in specific industries while also providing for more effective comparability.  Others cite increased cost and complexity as a potential negative, particularly for companies operating across multiple sectors.  Double materiality assessment The Omnibus proposal does not change the CSRD’s double materiality perspective, meaning that companies remaining in scope will have to report on how sustainability risks affect their business and their own impact on people and the environment. The retention of the double materiality assessment (DMA) is not surprising given that it is a key requirement under the CSRD.  While cost and the availability of data have been cited by some as barriers to completing the DMA, the recommended reduction in ESRS data points and proposed two-year reporting delay should assist reporters in meeting this requirement.      What happens next? It is important to remember that these Omnibus simplification measures are just proposals. The next step will see these proposals reviewed by both the European Parliament and the Council of the European Union.  A staggered approach to the proposed amendments would see the ‘stop the clock’ proposals be approved in the first instance to give companies clarity on their reporting requirements for 2025.  The European Council and the European Parliament have already approved this amendment.  The proposal now needs to be approved formally by the Council and signed by the Presidents of both Institutions. It will then be published in the Official Journal, which is expected by the end of June. Member States have until 31 December 2025 to transpose into their national laws. We have been advocating for speedy transposition of the Directive to the Department of Enterprise, Tourism and Employment , which has committed to prioritising this.  Once the ‘stop the clock’ proposal has been approved, this will allow time for the other proposals to be debated, and for EFRAG to develop and present to the European Commission a revised set of ESRS and a new set of voluntary standards based on the VSME.  The revised ESRS are expected to be adopted as soon as is practicable, but no later than six months after the entry into force of a revised CSRD.  Our professional accounting team at Chartered Accountants Ireland will continue to review these proposals, engage with members, other professional bodies and relevant stakeholders, and respond to European Commission and EFRAG consultations on your behalf. Our priority, as always, will be to represent our members in lending our voice to continued progress in the sustainability agenda that is also proportionate and cost-effective for companies.  While the initial reaction to the Omnibus package of proposals was mixed, it has been encouraging to hear from many in the profession that a reduced scope would allow them to better focus on material matters and on gathering quality data, while the delayed timeline would also give them greater scope to prepare thoroughly for CSRD reporting.  Dee Moran, FCA, is Professional Accountancy Lead at Chartered Accountants Ireland

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.