In this week’s sustainability/ESG bulletin, we bring you all the news from our Sustainability Conference, including the launch of a new qualification for accountants – the Certificate in Sustainability Strategy, Risk and Reporting and a new guide – Sustainability for Small Businesses. Also covered is the World Economic Forum at Davos, technical updates, resources and upcoming events.
News | Technical updates | Resources | Events
The Sustainability Conference
The 2022 Chartered Accountants Ireland Sustainability Conference took place this week. Packed with topics and sessions designed to enhance existing knowledge and understanding of current Sustainability issues the event addressed future trends and developments in sustainability that will likely impact all accounting, business and finance professionals.
New: Certificate in Sustainability Strategy, Risk and Reporting launches
Chartered Accountants Ireland has launched its newest qualification for accountants: the Certificate in Sustainability Strategy, Risk and Reporting.
Uniquely this new Certificate is designed with the needs of accountants in both practice and industry in mind and is focused on the key challenges and opportunities those within the profession face and will face over the coming years.
The Certificate will give members a strong foundation in sustainability and ESG issues that are already impacting business resilience. As sustainability becomes increasingly important in financial reporting, risk management, investment, and business strategy, our new 8-week programme will equip accountants to navigate this rapidly-developing area.
The Certificate will be led by speakers from the 'Big 4' accounting firms, an announcement that was made at the Chartered Accountants Ireland Sustainability Conference this week.
More information on the Certificate, which begins October 2022, can be found here.
New: Guide to Sustainability for Small Businesses
A new guide - Sustainability for Small Businesses – was launched at the Institute’s Sustainability Conference this week. This guide is for leaders of small to medium enterprises (SMEs) and accountants working in SMEs or in small to medium practices (SMPs). It explains key terms, describes sustainability risks – particularly climate risks – and discusses opportunities for businesses which embed sustainability. It also shows businesses how they can be more sustainable. With case studies from small businesses as well as accountants in practices, this guide is a must-read for accountants new to sustainability or wanting to improve their knowledge on sustainability for small to medium enterprises.
Review of National (Climate) Adaptation Framework launched
Ireland’s Minister for the Environment, Climate and Communications, Eamon Ryan, TD, has this week launched a public consultation to review of the National (Climate) Adaptation Framework. The framework, which sets out Ireland’s strategy for the application of climate adaptation measures across different government sectors and bodies, including local authorities, aims to reduce the vulnerability of the State to negative the impacts of climate change, but also to identify opportunities that may result from our transition to a climate-resilient economy and society.
Interested parties can take part in the review by completing an online questionnaire, and the closing date for submissions is 5.30pm on Wednesday 20 July 2022.
Report finds high level of public concern about environmental issues in Northern Ireland
The fourteenth Northern Ireland Environmental Statistics Report has been published this week by the Department of Agriculture, Environment and Rural Affairs (DAERA). The report, which is produced annually and contains information on a range of environmental indicators in Northern Ireland, covers Public Attitudes and Access to Nature; Climate Change; Air; Water and Marine; Biodiversity and Land; Waste and Historical Environment.
The report found that public concern about environmental issues was high in 2021 and 2022, with 82 percent very or fairly concerned about the environment. The report also shows a reduction of 18 percent in Northern Ireland’s greenhouse gas emissions from 1990 to 2019.
Climate dominates discussion at Davos
The World Economic Forum took place this week, with the climate crisis dominating the discussions. US climate envoy John Kerry told the Forum that rapid investment in renewable energy technology was the only solution to keep warming below 1.5 degrees Celsius, referring to a recent 6 percent rise in emissions and 9 percent increase in the use of heavily polluting coal. Referring to the crisis in the Ukraine and the tightening of gas supply, Kerry reportedly warned that "We cannot be seduced into believing that this suddenly is an open door to going back and doing what we were doing which created the crisis in the first place”.
Also under discussion were the International Sustainability Standards, with Emmanuel Faber, Chair of the the International Sustainability Standards Board (ISSB) meeting corporate leaders and governments to accelerate efforts to develop these standards, as well as the heads of the Big 4 accounting firms. Read more here.
Green supports for businesses in Ireland
A wide range of grants and supports are available to businesses looking to make sustainability-related changes to their businesses. How can you navigate them, and choose the best on for your business? Find out during this online interview on 15 June with Gordon Naughton, FCA and Chief Executive Officer at Tactive Commercial Advice. Send us your questions in advance by email or ask them on the day, Tuesday 15 June, 12.15pm. Register here.
Technical updates
From our colleagues in Professional Accountancy
- EFRAG has held educational sessions on the European Sustainability Reporting Standards (ESRS).
- As part of its due process in the standard-setting process for sustainability reporting in the EU, the European Financial Reporting Advisory Group (EFRAG) is inviting preparers to participate in its Use Test Focus Group to test the proposed requirements in its exposure drafts for draft ESRS. The focus group is invited to complete a questionnaire on the operational and other challenges when reporting under the draft ESRS
Resources
Events
- The ESG Summit 2022, which takes place on 31 May in Croke Park for business leaders, policy-makers and investors, will explore how ESG matters translate into meaningful business decision-making and what it will take for responsible and resilient businesses to succeed in the long run.
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The Reuters Responsible Business Europe 2022 conference will take place between 8–9 June at the Hilton London Tower Bridge, UK. The title of the event is “Delivering the just transition and sustaining commercial success with 80+ CEO and executive speakers.
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The ICC Belfast Sustainability Summit 2022 will take place on 9 June from 09:00 – 17:00. Industry experts will share insights on achieving net-zero carbon, sustainable tourism, waste and resource management, diversity and inclusion and more.
- Join this ICAEW webinar on 22 June for a deep dive into the International Sustainability Standards Board (ISSB) proposed standards on general sustainability-related disclosures and climate-related disclosures. Mardi McBrien, Managing Director, and Ravi Abeywardana, Technical Director of the IFRS Foundation will answer questions on the exposure drafts.
- A wide range of grants and supports are available to businesses looking to make sustainability-related changes to their businesses. How can you navigate them, and choose the best on for your business? Find out during this online interview on 15 June with Gordon Naughton, FCA and Chief Executive Officer at Tactive Commercial Advice. Send us your questions in advance by email or ask them on the day, Tuesday 15 June, 12.15pm. Register here.
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