In this week’s sustainability/ESG bulletin we cover Ireland’s first grid-scale solar project, additional funding announced for Irish social enterprise projects, and how a Northern Ireland survey shows companies turning to green tech and energy to reduce energy costs, as well as the usual technical updates, resources and upcoming events.
In the news
New funding for climate change broadcasting
A total of €5 million has been announced for climate-related awareness raising broadcasting in Irish television and radio. The funding is part of an effort to support the development of content projects to raise awareness of climate change, promote action and encourage behavioural change, as per commitments made in the 2021 Climate Action Plan.
The new climate reporting funds will be administered by the Broadcasting Authority of Ireland and will be provided jointly by the Department of Environment, Climate Change and Environment, and the Department Tourism, Culture, Arts, Gaeltacht, Sports and Media.
Speaking at the announcement, Minister for the Environment, Climate and Communications, Eamon Ryan TD stated: "By improving climate literacy, we will enable people to make changes in their daily lives and engage with climate action at a local and national level."
You can find an interactive guide to climate in the Chartered Accountants Ireland Sustainability Resource hub titled Climate Essentials For Accountants.
First grid-scale solar project opened in Ireland
The Minister for the Environment, Climate and Communications, Eamon Ryan TD, has formally opened the first grid-scale solar project at Millvale solar farm in Ashford, Co. Wicklow. The farm, which is now delivering electricity into the national grid, can produce enough to power approximately 3,600 homes every year, avoiding 4,800 tonnes in CO2 emissions.
The farm is the first of solar project to reach commercial operation under RESS 1 – the Renewable Electricity Support Scheme (RESS), a scheme which provides support to renewable electricity projects in Ireland. Speaking at the opening of solar farm, Minister Ryan commented “This is the first of many solar projects expected to energise under the RESS this year. It’s a key starting point on our journey, under the Climate Action Plan, to install up to 2.5GW of solar energy on the electricity system by 2030.” Further information on the Renewable Electricity Support Scheme (RESS), including final terms and conditions for individual auctions and auction results is available on www.gov.ie.
€526k additional funding for Irish social enterprise projects
Minister for Rural and Community Development, Heather Humphreys, TD, has announced additional funding in the form of grants totalling €526,000 for social enterprises, social enterprise networks and support organisations to carry out a range of awareness raising initiatives.
Social enterprises are businesses that work primarily to improve the lives of people. Their core objective is to achieve a social, societal, or environmental impact. Like other businesses, social enterprises pursue their objectives by trading in goods and services, but any surpluses they generate are re-invested into achieving their core social objectives, rather than maximising profit for their owners.
The funding will be provided under the Awareness Raising Initiative for Social Enterprise (ARISE) Scheme. This scheme is funded by the Dormant Accounts Fund, a scheme for the disbursement of funds that are unlikely to be reclaimed from dormant accounts and unclaimed policies.
Speaking at the announcement, Minister Humphreys stated: “This scheme will continue to play a significant part in fostering a common understanding of the value of social enterprise, and collectively empower social enterprises to have a voice and a role in raising awareness.”
Northern Ireland survey shows green tech and energy used to reduce energy costs
A survey conducted for Manufacturing NI and Tughans Solicitors has reportedly shown that half of Northern Ireland’s manufacturers are turning to green tech and energy in an attempt to reduce their energy costs. 98 percent of the 130 companies across Northern Ireland surveyed by market research company Perceptive Insight between April 1 to22 2022 reported rising energy costs in the previous 12 months, and 49 percent reported planning investment in green technology and energy efficiency measures as a result. Commenting on the findings, James Donnelly, Head of Corporate at Tughans, stated: “The changing conditions are seeing a greater appetite to adapt through investment in plant and automation, new energy systems and sourcing raw materials.”
- EFRAG has launched a public consultation on the Draft ESRS Exposure Drafts (EDs) developed by the EFRAG PTF-ESRS. The consultation period will run until 8 August 2022.
- The International Sustainability Standards Board (ISSB) held two live webinars at the end of April for all stakeholders on its proposed standards on general sustainability-related disclosures and climate-related disclosures, the recordings of which are available online.
- The FRC are also inviting stakeholders to attend a webinar to learn more about the work of the newly formed International Sustainability Standards Board (ISSB) and its first two proposed standards.
Resources
- How to live sustainably in your 20s and beyond
While it may seem impossible to make an individual difference in tackling climate change, there are actually loads of personal actions we can take to help. Grace Tighe explains in this article for Accountancy Ireland’s student publication, The Bottom Line
- Have kids? Want them to educate you about climate change? The Carbon Almanac is a book collectively produced by a global community of writers, researchers, thinkers and illustrators. Rich with essays, graphs, cartoons, tables, and resources, it provides credible and authoritative information on carbon and its impact on the climate that is easy to access and share. Ten trees will be planted for every tree it cuts down to print the book. It also invites kids to read the book to an adult at bedtime. Kids can take a photo and post it on social and tell the world “I taught a grown-up about climate change” using the hashtag #GenerationCarbon.
Events
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