At the informal EU summit in Limburg yesterday, the proposed EU Savings and Investments Union (SIU) moved firmly to the centre of the competitiveness debate. Taoiseach Micheál Martin confirmed that Ireland is “ready to progress” the initiative, describing the Government’s position as “more positive now”, while recognising sensitivities around supervisory integration and Ireland’s financial services sector.  A reported €11 trillion EU household savings remain on deposit rather than invested in productive enterprise. In Ireland, an estimated €170 billion sits in domestic deposits rather than invested in business to support innovation, SMEs and long-term growth.  We have written to the Minister for Finance to discuss the considerable opportunities that the activation of these household deposits represents for the Irish economy.  Chartered Accountants Ireland has consistently engaged in this space on members’ behalf: In our response to the Ireland for Finance 2026–2030 strategy consultation, we called for full implementation of the Funds Sector 2030 Review recommendations to strengthen Ireland’s investment ecosystem and enhance retail participation in capital markets. We emphasised the need for a competitive, modernised tax framework that supports long‑term saving and investment. Specifically, we advocated for the introduction of a personal investment savings scheme for Ireland. Such a scheme would deepen domestic capital markets, encourage greater retail participation, and create a more sustainable investor base for Irish SMEs and listed companies. On Budget Day, we were disappointed at the absence of progress on ETF deemed disposal reform, noting that meaningful capital‑market development requires coherent and aligned tax policy. In our recent submission on Ireland’s priorities for its upcoming EU Presidency, we further emphasised the importance of progressing the EU Savings and Investments Union agenda – positioning Ireland to lead constructively on capital markets reform while ensuring domestic measures support that ambition. Last week we launched our 2026 Investment Tax Guide in partnership with Goodbody. At the webinar launch the panel discussed the landscape of investment taxation in Ireland including the Government’s renewed focus on encouraging retail investment – the commitments arising from the Funds Sector Review and the anticipated roadmap for simplifying Ireland’s complex retail investment tax framework. The panel also outlined how proposals such as removing the 8‑year deemed disposal rule on funds could support long‑term savers. For any members who missed the webinar, you can watch it back here.   Savings and investments reform will form a core pillar of our pre‑Budget 2027 campaign and we look forward to updating members on this in the coming weeks and months.

  In this week’s Sustainability/ESG Bulletin read about the Central Bank of Ireland Governor’s speech about domestic economic policy priorities, ISIF’s commitment of €75m to expand battery storage supporting the electricity grid, and new studies showing Ireland’s strong hydrogen export potential and continued progress in renewable energy. Funding was awarded to circular economy projects, and research revealed Ireland’s significant gender gap in advanced digital skills. Northern Ireland advanced plans for a Just Transition Commission and launched funding for co‑operatives. Europe introduced a new carbon removal certification standard, while a global biodiversity report warned of rising risks to businesses. This, plus the latest articles, technical content, resources and upcoming events. CHARTERED ACCOUNTANTS IRELAND Chartered Accountants Ireland is partnering with the Institute of Chartered Accountants Scotland (ICAS) to host a webinar on Thursday 12 March: Carbon Border Adjustment Mechanism: What you need to know. Learn how CBAM currently operates and what its implementation is revealing in practice. Register here to attend. IRELAND ‘Reinforcing Resilience, Responding to Change’: Central Bank Governor’s speech on ‘adapting to the economy of the future’ In a speech outlining priorities for 2026, Central Bank of Ireland Governor Gabriel Makhlouf has advised that domestic economic policy should focus on priorities that maintain, build and broaden the resilience of the State, its economy and its financial sector. The speech, given to the  EU Heads of Missions, this week, identified priorities including growing the supply side capacity of the economy, in particular infrastructure which is a current constraint on sustainable growth; strengthening the indigenous business sector and enhancing the economy’s resilience; continuing to build fiscal buffers and greater retail participation in financial markets;  and developing a new set of multilateral trading rules that deliver certainty and stability needed by economies and businesses. Quoting Jean Monnet on Europe’s tendency to progress through times of crisis, Governor Makhlour said: “Europe will be forged in crises and will be the sum of the solutions found to those crises”, and pointed to the need for greater development and adoption of technology, as well as continuing to focus on the transition to a net zero world in order to adapt to the economy of the future. ISIF commits up to €75m to new fund supporting Ireland’s energy grid The Ireland Strategic Investment Fund (ISIF) has announced a commitment of up to €75m to a new Gore Street Capital (GSC) fund, an alternative asset manager in the energy storage infrastructure sector with 1.4GW of battery assets under management. The new fund will invest in battery energy storage projects aimed at supporting Ireland’s energy grid by enhancing flexibility, supporting renewable integration, and improving energy security. ISIF’s commitment, as part of its €2bn climate investment programme, will see GSC acquire primarily greenfield battery energy storage projects from developers; procure and construct the projects; and then own and operate the assets for a period in line with the GSEU fund’s ten-year life. Irelands’ potential to export hydrogen The Government has published Exporting Hydrogen from Ireland, a study exploring the potential to export hydrogen from Ireland. The study was commissioned in April 2025 by the Department of Climate, Energy and the Environment to assess the potential for connecting future Irish hydrogen infrastructure with continental Europe. It was commissioned under the 2023 National Hydrogen Strategy which aims to decarbonise our economy, enhance our energy security, and develop industrial opportunities. The study finds that Ireland’s hydrogen production potential is much larger than the expected domestic demand, and provides practical, technical and commercial information to assist future hydrogen policy development. Ireland’s renewable energy “critically important to competitiveness, security and decarbonisation” The Government has highlighted progress in Ireland renewable electricity in 2025. Progress included the Small-Scale Renewable Electricity Support Scheme (SRESS) offering communities, farmers, small businesses, and others an opportunity to generate income through solar and wind projects of up to 6MW, as well as rapid growth of Ireland’s solar energy sector. Also noted was the investment of €3.5 billion in Ireland's electricity infrastructure across, and the publication of the general scheme for Private Wires to unlock private sector investment in renewables infrastructure. Commenting, Minister for Climate, Energy and the Environment Darragh O'Brien described renewable electricity as “a critically important part of this government's commitment to competitiveness, security, decarbonisation and quality of life.” Circular economy and industrial competitiveness Funding of €650,000 has been announced for 14 projects across Ireland under the fourth Circular Economy Innovation Grant Scheme (CEIGS). The funding provides financial support to projects that are working on innovative and scalable solutions to advance Ireland’s transition to a circular economy – an economy where resources are reused, waste is minimised and sustainability is at the core of production and consumption.  Separately, the EU is planning the Circular Economy Act (from Q3 2026) explicitly to boost competitiveness and industrial resilience, double circular material use to 24 percent by 2030 and cut import reliance. The European Commission has also just adopted new measures under the Ecodesign for Sustainable Products Regulation (ESPR). Companies will be required to disclose information on the unsold consumer products they discard as waste, and prohibited from destroying unsold apparel, clothing accessories and footwear. Failing to utilise women’s advanced digital capability a constraint on growth New research published by the ESRI has found that men in Ireland are over twice as likely as women to use advanced digital skills at work. The research, titled Squandered skills? Bridging the digital gender skills gap for inclusive growth in Ireland – A comparative European perspective, was published jointly with Block W – a female-led network to close the gender gap in the uptake of blockchain technologies amongst women. It found that Ireland has Europe’s largest gender gap in advanced digital skills use at work, raising concerns about the underutilisation of women’s digital skills, despite Ireland’s strong tech sector and high levels of educational attainment. Commenting, Professor Joyce O'Connor, Co-Founder and Chair of Block W, described the potential implications for Ireland: “Competitiveness, innovation and resilience depend not only on investment and infrastructure, but on what happens inside workplaces…. In an economy facing skills shortages, failing to fully utilise women’s advanced digital capability is an avoidable constraint on growth.” Northern Ireland/UK BITC NI opens entries for 2026 Responsible Business Awards Business in the Community Northern Ireland (BITC NI) has opened entries for the 2026 Responsible Business Awards in Northern Ireland, celebrating organisations that lead the way in responsible and sustainable business practice. The Awards reward and recognise businesses large and small and from every sector who go beyond profit and take real action to support communities, show leadership, and tackle social and environmental challenges. More details are available on the BITC NI website, and closing date for entries is 1 May 2026. Regulations to establish climate change Just Transition Commission progress Minister Andrew Muir MLA has confirmed he will be bringing draft Regulations soon to establish a climate change Just Transition Commission to the Committee for Agriculture, Environment and Rural Affairs and the Assembly for scrutiny and debate. The draft regulations follow an extensive 10-week consultation, during which the Department sought views on the structure and make-up of the Commission, including whether additional sectors should be represented to those specified for representation in the Climate Change Act (NI). Section 37 of The Climate Change Act (Northern Ireland) 2022 (the Act) requires that DAERA, by regulations, establish an independent Just Transition Commission. Just Transition Commissions have been established by the Scottish and Irish Governments to oversee their administrations’ low carbon transition. Archibald launches £30,000 funding to support growth of co-operatives Northern Ireland Economy Minister Dr Caoimhe Archibald is inviting proposals to support the growth and development of co-operatives across the north. The £30,000 open call for proposals aims to unlock the potential of the wider social economy to deliver good jobs, strengthen regional balance, and support more resilient local communities. It invites proposals that will increase awareness and understanding of the co-operative model, provide practical support and infrastructure to help new and existing co-operatives grow and support co-operatives to develop new opportunities or enter new markets, helping them play a larger role in local economic development, decarbonisation activity, and community-led regeneration. Full details on how to apply, including eligibility criteria and supporting documents, are available at Co operative Support Open Call. EUROPE EU sets world’s first voluntary standard for permanent carbon removals The European Commission has adopted the first set of methodologies under the Carbon Removals and Carbon Farming (CRCF) Regulation  to certify activities that permanently remove CO2 from the atmosphere. The EU’s goal in adopting these voluntary certification methodologies is to set clear rules and create new opportunities for climate innovation, investments in carbon removal technologies and addressing greenwashing. It also intends to provide clarity for companies and investors and helps to create an emerging market for both innovative start-ups and a major EU bioeconomy. The new rules cover three types of permanent carbon removal activities, selected for their technological maturity and potential contribution to the EU’s climate objectives. These are direct air capture with carbon storage (‘DACCS’), biogenic emissions capture with carbon storage (‘BioCCS’), and biochar carbon removal (‘BCR’). The delegated Regulation will now be transmitted to the European Parliament and the Council of the EU for a two-month scrutiny period, after which, if there are no objections, it is expected to be published in the Official Journal in early April, with entry into force 20 days thereafter. WORLD Businesses risk extinction due to dependencies on ever-decreasing natural resources A global report has found that businesses are central to halting and reversing biodiversity loss, but that many often lack information to address their impacts and dependencies, as well as the risks and opportunities relating to biodiversity and nature’s contributions to people. The report, which was approved by representatives of the more than 150 member Governments of the Intergovernmental Platform on Biodiversity and Ecosystem Services (IPBES) and colloquially known known as the ‘Business and Biodiversity Report’, finds that businesses often bear little or no financial cost for their negative impacts and many cannot currently generate revenue from positive impacts on biodiversity. The report stressed that collaboration, collective and individual actions are essential to create an enabling environment where businesses contribute to a just and sustainable future. It provided more than 100 specific examples of concrete actions that can be taken by businesses, governments, financial actors and civil society.  TECHNICAL ROUNDUP (From our colleagues in Professional Accounting on 6 February) Accountancy Europe has issued two factsheets regarding the Omnibus Directive outlining the changes occurring following the amendments of the CSRD and CSDDD. EFRAG has launched a series of educational videos to support SMEs in complying with the VSME disclosure requirements, and continues to add new material to the VSME Ecosystem which contains useful guides, templates, videos and case studies. EFRAG has released a report from its conference “EFRAG unveils Draft Simplified ESRS: A European Milestone for Sustainability Reporting”. The Financial Conduct Authority has issued a consultation ‘CP26/5: Aligning listed issuers’ sustainability disclosures with international standards’. The Department of Business and Trade (UK) (DBT) has published the outcome of its consultation on proposals for an oversight regime for assurance of sustainability-related financial disclosures. The European Commission updated its request to CEAOB on limited assurance sustainability standards  IAASA has released a new episode of its Insights podcast on Ireland’s first year of CSRD reporting. The Global Reporting Initiative (GRI) has released a new case study series entitled “ESG Reporting in Action”, which examines at how licensed tools and software are helping companies manage sustainability data. GRI has also issued its quarterly standards update. The International Sustainability Standards Board (ISSB) has issued its January 2026 update and podcast.   RESOURCES Just Transition a catalyst for growth, innovation and long-term competitiveness UK-based global think-tank the Institute for Human Rights and Business has published a series of case studies in a report to demonstrated that the ‘just transition’ is a catalyst for growth, innovation, and long-term competitiveness. Describing the decarbonisation of the global economy as “the greatest economic shift of our age”, the report, titled Making just transitions work - lessons for business leaders, notes how the transition is already shaping business access to capital, workforce availability, policy alignment, and long-term competitiveness. In publishing the case studies, the report aims to address what it describes as one of the biggest challenges businesses face in implementing a just transition: the lack of real-world examples to guide them. The societal impacts of AI – A business leadership perspective Business in the Community Ireland has published insights from CEOs and thought leaders convened to examine how organisations are approaching AI’s broader implications, and whether the societal impacts of AI have entered the discussion on inclusive, responsible and sustainable business. The insights highlight both opportunity and risk, and find that companies grounded in inclusion and sustainability are best positioned to navigate challenges. A significant opportunity exists for businesses to thrive with AI; however, a clear message is that “embedding societal responsibility must be central to this competitiveness agenda”. ARTICLES Environmental breakdown isn’t a distant possibility – it’s a threat to world stability The message is clear: climate change should be prioritised as a security crisis, not just an environmental one (The Irish Times) Plan for state-backed scheme to insure businesses at risk of flooding (Business Post) Sustainability disclosures by listed companies set to evolve (ICAEW Insights) Suppliers are drowning in esg requests coming into 2026 (ESG News) How AI is powering the energy transition – from smart grids to fusion (Reuters) Time for professional services to phase out fossil fuel clients (Sustainable Works – Subscription needed)  EVENTS ICAEW, Putting nature on the balance sheet — Troubleshooting session Troubleshooting session to tackle common challenges on how to embed nature into the activities and processes of the finance function. Virtual, Wednesday, 18 February, 4 - 5pm CET Reuters Events, Practical Implications of the Omnibus A webinar hosted by Reuters Events in partnership with Professor Andreas Rasche, Associate Dean, Copenhagen Business School. The session will explore the practical implications of the EU Omnibus package and what these changes mean for organisations preparing their 2026 sustainability reporting strategy. Virtual | Thursday, 19 February 2026 | 10:00 am–11:00 am GMT / 11:00 am–12:00 pm CET UN Global Compact Network UK Webinar Series, The Business Role in Systems Change, Feb/Mar 2026 Businesses are facing escalating risks as the world approaches critical tipping points. Corporate resilience now depends on the transformation of markets, supply chains, and business models needed to steer the system towards stability. There is also potential for positive tipping points - moments when small, well-directed actions accelerate large-scale transitions towards sustainability. Businesses hold a unique capacity to create and amplify these dynamics of change. In these webinars, leading scholars and experts will discuss tipping points, climate risk, and systems change, how to respond to emerging climate realities and apply breakthrough frameworks such as the Positive Tipping Points Toolkit and Doughnut Economics to unlock change at multiple scales.   Webinar sessions: Understanding Tipping Points Risks, Feb 26  | 14:00 Systems Thinking in Business and Climate, Mar 5  | 14:00 Triggering Positive Tipping Points, Mar 12 | 14:00 Shift, EU Omnibus Webinar - Briefing for business on the revised CSDDD and performing due diligence This webinar will feature insights from the Shift team and leading businesses on practical, real‑world approaches to implementing due diligence aligned with good practice. The session will explore how due diligence requirements under the CSDDD and reporting obligations under the CSRD can be addressed in an integrated way, rather than treated as separate exercises. Companies in scope of the CSDDD or operating within their value chains are encouraged to attend. Virtual, Thursday, 26 February 2026 | 09:00 SEAI, EXEED Energy Efficient Design Training Join our exclusive free half-day training and become a leader in energy-efficient design. The SEAI EXEED team invites you to a dynamic training session designed to upskill professionals and stakeholders in the Excellence in Energy Efficient Design (EXEED) process. This training is ideal for those aiming to become an Energy Efficient Design (EED) Expert. Virtual, Friday 27 February, 9am - 1pm Enterprise Ireland, Sustainability Kickstarter Workshops A half‑day workshop series designed to support business leaders in recognising the strategic importance of sustainability and decarbonisation. The sessions provide practical skills to integrate core sustainability principles, identify competitive opportunities, and build actionable plans to meet rising customer expectations for sustainable products and services. Workshops | Dates & Times • Friday, 27 February 2026 | Half‑day workshop • Friday, 20 March 2026 | Half‑day workshop • Friday, 17 April 2026 | Half‑day workshop • Friday, 8 May 2026 | Half‑day workshop Shift, EU Omnibus Webinar - Briefing for business on the revised CSRD and reporting on sustainability issues The session will examine what recent changes to the CSRD and the ESRS mean in practice for how companies report on sustainability issues.  The webinar will feature insights from the Shift team, alongside leading businesses, on implementation approaches that reflect good practice, support companies in identifying and addressing key risks, and remain practical and workable in real-world contexts. The discussion will also explore how reporting obligations under the CSRD and due diligence requirements under the CSDDD should be considered together, rather than in isolation.  If your company is in scope of the CSRD, or part of the value chain of a company that is, we encourage you to join us. Virtual, 3 March 2026 | 15:00 Pentland Centre for Sustainability in Business - Lancaster University, What Does ‘Good’ Look Like in Corporate Reporting? The final session in the Pentland Centre’s free webinar series for SMEs explores what effective reporting on nature and biodiversity looks like. Drawing on global examples, this webinar highlights best practices and practical approaches for integrating nature and biodiversity into corporate reporting. Virtual, Thursday 12 March 2026, 8:00am – 9:00am | 4.00pm – 5.00pm Sustainability Centre You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.

  In this week’s Sustainability/ESG Bulletin read about supports for businesses affected by flooding and findings from the Central Bank of Ireland of the emerging economic and financial costs of climate change. New guidance was issued in the UK for businesses making environmental claims, and a record amount of new offshore wind capacity was announced for new clean power projects. In the EU a public consultation on future EU climate resilience is now live, and the EU Council greenlighted a ban on Russian gas imports. The global insurance industry reported ‘growing ambition and leadership’ and AI is ‘a magic wand’ for helping organisations realize their sustainability goals. This, plus the latest articles, resources and upcoming events. IRELAND Central Bank data finds economic and financial costs of climate change already emerging The economic and financial costs of climate change are already emerging, according to data published by Central Bank of Ireland in its annual Climate Observatory Report. These reports aim to equip stakeholders with the metrics needed to understand climate related risks by integrating Central Bank analytics with third party data sources. The January 2026 update reports that roughly 6 percent of domestic business loans lie in flood risk areas, rising to 12–16 percent under future scenarios, and around half of corporate lending is to economic sectors with elevated transition risk. While the uptake of retrofits, electric vehicles and renewables is increasing in Ireland – and globally clean energy investment surpassed fossil fuel investment in 2025 – atmospheric CO2 and global temperatures have reached unprecedented levels, raising the risk of triggering several climate tipping points.   Supports for businesses affected by flooding The Government has published updates to the Emergency Humanitarian Flooding Scheme for small businesses and community, voluntary and sports organisations affected by flooding. The Scheme is aimed at businesses and organisations unable to secure flood insurance and provides a contribution towards the costs of returning a business premises to its pre-flood condition. This can include replacing flooring, fixtures and fittings, and damaged stock if relevant. Eligibility for the Scheme has also been extended to organisations of up to 50 employees and the upper limit for payments has been increased from €20,000 to €100,000 for the most impacted premises. Deadline for applications to the scheme, which is administered by the Irish Red Cross on behalf of the Department of Enterprise, Tourism and Employment, is 20 February 2026. Full details and application forms are available here. Northern Ireland/UK Updated guidance for business making environmental claims The UK Competition and Markets Authority (CMA) has released updated guidance for brands on making environmental claims. Making green claims: Getting it right, across the supply chain clarifies where responsibility sits across the supply chain. It was produced in response to requests from stakeholders in a variety of sectors seeking further clarity to supplement the Green Claims Code; this was issued for the fashion industry in September 2024 on supply chain liability in relation to environmental claims and what this means in practice for different businesses. It also comes after the Digital Markets, Competition and Consumers Act took effect in April 2025, giving the CMA new powers to impose financial penalties on companies that mislead consumers. Record amount of offshore wind capacity secured in UK A record amount of new offshore wind capacity has been announced for new clean power projects in UK following its latest renewables auction. With enough capacity to power 12 million homes, new offshore wind farms aim to strengthen Britain’s energy security, reduce electricity bills and create a clean electricity system by 2030. The auction hopes to unlock around £22 billion in private investment, supporting up to 7,000 jobs, bringing growth and employment to all regions of the country.  Offshore renewable energy generation and strong inter connections were highlighted in the Hamburg Declaration signed in January 2026, as essential to the long-term competitiveness of industries on the global stage. EUROPE Public consultation on future EU climate resilience by European Commission The European Commission is inviting citizens, businesses, regional authorities, and all stakeholders to take part in a new public consultation on climate resilience. The consultation aims to fill knowledge and evidence gaps in areas such as climate risk assessments and disclosure, regulatory frameworks and standards, governance and oversight, incentives and enforcement, financial frameworks, cross-border cooperation and consistency, sector policy commitments and contributions, stakeholder engagement and participation, emerging socio-economic trends, and technological innovation. The public consultation is open until 23 February. EU Council gives final green light to a stepwise ban on Russian gas imports The 27 EU member states have formally adopted the regulation on phasing out Russian imports of both pipeline gas and liquified natural gas (LNG) into the EU. The new rules – described as “a key milestone in delivering the REPowerEU objective of ending the EU’s reliance on Russian energy” – also include measures on effective monitoring and diversification of energy supply. Non-compliance may result in maximum penalties of at least €2.5 million for individuals and at least €40 million for companies, at least 3.5 percent the company’s total worldwide annual turnover, or 300 percent of the estimated transaction turnover.  The ban will start to apply six weeks after the regulation enters into force, with existing contracts will have a transition period, a so-called ‘stepwise’ approach which aims limit the impact on prices and markets. A full ban will take effect for LNG imports from the beginning of 2027 and for pipeline gas imports from autumn 2027. WORLD Report finds growing ambition and leadership across the insurance industry A report published by the University of Cambridge’s Institute for Sustainability Leadership has shown a growth in ambition and leadership across the insurance industry. The 2025 ClimateWise Principles Independent Review,  which has provided a framework for the insurance industry to disclose climate-related risks and opportunities since 2007, claims increasing capability in the industry to build resilience, support the transition and drive meaningful action on climate change. Areas where there were notable improvements in 2025 included strategic integration and a growing focus on double materiality, with 58 percent of members having conducted, or plan to conduct, double materiality assessments. The review also points to improved governance of nature-related risks and opportunities, with nature considerations becoming more firmly embedded (39 percent of members are now integrating nature-related risks into board-level governance processes). ‘Like a magic wand” – report finds AI helping organisations realize their sustainability goals A report published by Reuters in collaboration with Siemens has found that AI-driven sustainability is no longer ‘emerging’ but is delivering measurable results and benefits. The report, From Pilots to Performance, drew on contributions from over 260 senior executives, and found that 65 percent of organisations report energy savings from using ‘industrial AI’, with 59 percent achieving CO2 reductions averaging 24 percent. According to the findings, 81 percent of manufacturers believe future sustainability innovation will be AI-driven. They also expect it to drive sustainability gains across multiple operational areas, from improving energy efficiency across operations, to optimizing supply chains and logistics for lower emissions, to enabling predictive maintenance and reducing equipment downtime. Commenting, Dr. Eva Riesenhuber Global Head of Sustainability Siemens AG said: “AI is like a magic wand—it opens up possibilities we’ve never had before... enables us to orchestrate complexity across entire value chains—transforming energy systems, supply chains, and infrastructure from fragmented parts into intelligent, sustainable ecosystems”. The research also found that organisations lack internal expertise to implement cutting-edge industrial AI and explores how successful organizations are navigating the talent and change management challenges that technology alone can't solve. RESOURCES Energy Upgrades for your Business - New module for SMEs from SEAI Energy Upgrades for your Business, the latest module in SEAI’s Energy Academy free, online learning resource for Irish businesses is now available. The 20-minute free module gives a short overview of what energy upgrades are explains why you need to start thinking about them for your business (i.e. business and compliance benefits) simplifies ‘business decarbonisation’ gets you up to speed with how energy upgrades can make your business cheaper to run helps you figure out what energy upgrades your business needs explains the grant supports available through SEAI.   David Carlin's Digest: Your Guide to a Changing World This update from global sustainability authority David Carlin has good pieces on: the EU’s taxonomy simplifications signal for companies and financial institutions new research showing climate transition and physical risks are now affecting borrowing costs in the European repo market the UNEP’s latest State of Finance for Nature report showing that the world’s capital flows are still overwhelmingly aligned with nature destruction, not restoration with a ratio of 30:1 between harmful and helpful investments, and new evidence showing that politicians consistently underestimate public support for climate policy. PODCAST RTÉ, Can nature stop flooding? Professor of Geography at TCD, Mary Bourke explains how nature could help prevent some of the worst flooding RTÉ Behind the Scenes  (25 mins) - worth your time ARTICLES UK voluntary sustainability assurance oversight regime announced (ICAEW Insights) Fossil fuel firms may have to pay for climate damage under proposed UN tax (The Guardian) Dutch government discriminated against Bonaire islanders over climate adaptation, court rules (The Guardian) Trump administration unlawfully suspended EV charger infrastructure program, US judge rules (Reuters) Climate tipping point will be reached by the end of this decade, Copernicus institute warns (The Journal) Most companies are staying the course on ESG — just talking about it less (ESG Dive) European EV sales overtake petrol for first time in December (Financial Times) EVENTS Pentland Centre for Sustainability in Business - Lancaster University, Starting Your Journey with Tools and Frameworks Second in the series, this webinar explores tools and frameworks that support decision-making for nature and biodiversity, including the Natural Capital Protocol and TNFD. Learn how these approaches help businesses identify relevant priorities and communicate outcomes effectively. Virtual, Thursday 12 February, 8:00am – 9: 00am | 4.00pm – 5.00pm SEAI, Introduction to Energy Management Training for SMEs This workshop is aimed at the owners, senior managers and facilities managers of small and medium enterprises who have recently started out on their energy saving journey. This is a free 2-hour online workshop, delivered by an energy consultant, which supports SMEs in creating an energy action plan. Virtual, Thursday 12 February from 2–4pm, Free ICAEW, Putting nature on the balance sheet — Troubleshooting session Troubleshooting session to tackle common challenges on how to embed nature into the activities and processes of the finance function. Virtual, Wednesday, 18 February, 4 - 5pm CET Reuters Events, Practical Implications of the Omnibus A webinar hosted by Reuters Events in partnership with Professor Andreas Rasche, Associate Dean, Copenhagen Business School. The session will explore the practical implications of the EU Omnibus package and what these changes mean for organisations preparing their 2026 sustainability reporting strategy. Virtual | Thursday, 19 February 2026 | 10:00 am–11:00 am GMT / 11:00 am–12:00 pm CET UN Global Compact Network UK Webinar Series, The Business Role in Systems Change, Feb/Mar 2026 Businesses are facing escalating risks as the world approaches critical tipping points. Corporate resilience now depends on the transformation of markets, supply chains, and business models needed to steer the system towards stability. There is also potential for positive tipping points - moments when small, well-directed actions accelerate large-scale transitions towards sustainability. Businesses hold a unique capacity to create and amplify these dynamics of change. In these webinars, leading scholars and experts will discuss tipping points, climate risk, and systems change, how to respond to emerging climate realities and apply breakthrough frameworks such as the Positive Tipping Points Toolkit and Doughnut Economics to unlock change at multiple scales.   Webinar sessions: Understanding Tipping Points Risks, Feb 26  | 14:00 Systems Thinking in Business and Climate, Mar 5  | 14:00 Triggering Positive Tipping Points, Mar 12 | 14:00 Shift, EU Omnibus Webinar - Briefing for business on the revised CSDDD and performing due diligence This webinar will feature insights from the Shift team and leading businesses on practical, real‑world approaches to implementing due diligence aligned with good practice. The session will explore how due diligence requirements under the CSDDD and reporting obligations under the CSRD can be addressed in an integrated way, rather than treated as separate exercises. Companies in scope of the CSDDD or operating within their value chains are encouraged to attend. Virtual, Thursday, 26 February 2026 | 09:00 SEAI, EXEED Energy Efficient Design Training Join our exclusive free half-day training and become a leader in energy-efficient design. The SEAI EXEED team invites you to a dynamic training session designed to upskill professionals and stakeholders in the Excellence in Energy Efficient Design (EXEED) process. This training is ideal for those aiming to become an Energy Efficient Design (EED) Expert. Virtual, Friday 27 February, 9am - 1pm Shift, EU Omnibus Webinar - Briefing for business on the revised CSRD and reporting on sustainability issues The session will examine what recent changes to the CSRD and the ESRS mean in practice for how companies report on sustainability issues.  The webinar will feature insights from the Shift team, alongside leading businesses, on implementation approaches that reflect good practice, support companies in identifying and addressing key risks, and remain practical and workable in real-world contexts. The discussion will also explore how reporting obligations under the CSRD and due diligence requirements under the CSDDD should be considered together, rather than in isolation.  If your company is in scope of the CSRD, or part of the value chain of a company that is, we encourage you to join us. Virtual, 3 March 2026 | 15:00 Pentland Centre for Sustainability in Business - Lancaster University, What Does ‘Good’ Look Like in Corporate Reporting? The final session in the Pentland Centre’s free webinar series for SMEs explores what effective reporting on nature and biodiversity looks like. Drawing on global examples, this webinar highlights best practices and practical approaches for integrating nature and biodiversity into corporate reporting. Virtual, Thursday 12 March 2026, 8:00am – 9:00am | 4.00pm – 5.00pm   Sustainability Centre You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.  

This week the Institute made an important submission to the Cost of Business Advisory Forum being run by the Department of Enterprise, Tourism and Employment.  This round of consultation focussed on the reporting and compliance burdens that are placed on businesses. In the submission, the Institute argued that there was a need for a cross-Government simplification drive here in Ireland. The Institute outlined clear evidence of where the reporting and compliance obligations are overburdensome and overly complex. The difficulty in accessing Government supports and tax reliefs has been consistently raised by members and the Institute outlined clear cases where SMEs are discouraged from applying for certain supports due to the administrative burden involved. The Enhanced SME test is designed to sense check every proposal coming from Government to see if it is placing an undue and disproportionate burden on SMEs. Yet there is concern that this test is not being applied and the Institute outlined some key examples where this has been the case. On the tax side, the major issues facing businesses in relation to the Enhanced Reporting Requirements was highlighted in the submission in detail and the Institute called for a review of the real-time reporting requirement. It was also pointed out that the previous simplification process run by Revenue was too restrictive by only focussing on administrative issues and it did not extend to policy and legislative issues. From a European perspective, the Institute urged the Government to get behind the European Commission’s simplification agenda and to use its Presidency of the Council of the European Union to advance important files like the Digital Omnibus, the Tax Omnibus, the Savings and Investment Union and the 28th Regime. Following this submission, the Institute will be attending the next meeting of the Forum on 18 February 2026 which will focus on reporting and compliance, and the Institute will further articulate the need for a cross Government initiative to drive the simplification agenda.  

Over a year ago Mario Draghi presented his competitiveness report to the European Commission and the European Parliament. Since then, along with defence and security, we have heard of little else from the EU, which is welcome. We have to improve EU competitiveness; we are losing ground to our competitors and businesses are too laden with regulation to innovate and grow. These are all arguments we have heard repeatedly from commentators and politicians alike over the past year. This was turbo charged in April when US president Donald Trump announced a series of tariffs on what he termed ‘liberation day’. Despite subsequent agreement between the EU and the United States, the stakes now could not be higher for Europe and all member states. The Draghi Report showed in clear terms that regulations, while well intentioned, have significant costs which are ultimately borne by businesses. This holds businesses back, prevents them from growing and scaling and hinders investment. It is one of the many reasons why companies go to other countries like the United States to grow and scale. If an Irish start-up wishes to expand into European markets, they need to learn, not only European rules but also the individual rules and regulations that are unique to each member state. In many cases this is an impossible task. The issue is not confined to small companies. Large companies also have to deal with complexity. Take tax, for example. Companies across Europe, including in Ireland, are implementing the EU Minimum Tax Directive which arose out of the OECD two pillar process. While that directive is locked in, many other countries, most notably the US, have yet to implement what were supposed to be global rules. Companies are spending thousands of hours and a lot of cash implementing an agreement that our main competitor jurisdictions are not. These are just some of the examples of the regulatory complexity facing companies in Europe, there are many more. One piece of regulation, in itself, may not add to the administrative burden, but it is the cumulative impact that can bury a business in red tape. Chartered Accountants Ireland fully endorses the Draghi Report and in particular the rallying call for regulatory simplification. As we move into 2026, what do we have to show for all the commentary on competitiveness? Well, progress has been made, but, as ever, tangible progress is slow. At a European level, throughout 2025, the Commission has proposed numerous omnibus proposals and other simplification initiatives in areas from digitalisation to small mid-caps to even the simplification of chemical legislation. From a tax perspective we have seen the Omnibus on Taxation which aims to simplify the increasingly complex tax environment across Europe. A 28th Regime, proposing a consistent company rulebook throughout the EU for small and medium-sized companies, has also been launched and is being led by Ireland’s EU Commissioner Michael McGrath. The Capital Markets Union which aimed to simplify the regulatory environment for capital and equity markets has been revived in the newly labelled Savings and Investment Union. The problem is that it is easy to talk about simplification, it is much harder to do it in practice. Each of these policy areas are monumental in their own right. Does the Commission have the capacity to really advance these well-meaning proposals through the Council and the Parliament? We know how long it can take to get proposals through the system, and some can lose momentum and get completely bogged down. The previously mentioned Capital Markets Union trundled along for many years with little to show for it at the end. As we move into 2026, Ireland has a unique opportunity to drive the competitiveness and simplification agenda forward with its Presidency of the Council of the European Union which is set to commence in July. A Council Presidency is not simply about hosting high-profile meetings and putting on a good show. A member state holding the presidency can set the agenda and outline the priorities for the European Union for six months. Chartered Accountants Ireland believes that Ireland, as a small open economy, with trade links throughout the world, is uniquely placed to significantly move the dial on the competitiveness and simplification agenda. That is one of the key messages in our recent submission to the public consultation on Ireland’s upcoming presidency undertaken by the Department of Foreign Affairs and Trade. Simplification is no simple task. It takes patience and determination, and it is for that reason we need politicians and policymakers to fully embrace the principal and to advance the competitiveness and simplification agenda. Ireland can do just that as it takes up the presidency in July. Director of Members & Advocacy, Cróna Clohisey.

  In this week’s Sustainability/ESG Bulletin from Chartered Accountants Ireland read about the Carbon Border Adjustment Mechanism, and funding for the Women in Finance Charter. Also covered is criticism of the Government’s sectoral adaptation plans for extreme weather events, funding allocated for enterprise decarbonisation, international recommendations for Ireland’s energy future, private wires legislation, and a new package to boost circular economy and strengthen Europe's plastic recycling, as well as the latest articles, resources, jobs and upcoming events.   IRELAND Definitive phase of CBAM begins The Definitive Phase of CBAM – the EU’s Carbon Border Adjustment Mechanism (‘CBAM’) – began from 1 January 2026, with importers of more than 50 tonnes of CBAM goods needing to apply for the status of authorised CBAM declarant to continue doing so. CBAM is an EU instrument for preventing carbon leakage, i.e. shifting the production of goods to non-EU countries where there is a lower or no carbon cost associated with their production. The mechanism is applied to so-called CBAM goods imported to the EU from outside the EU and specified in an EU Regulation (EU) 2023/956. Its objective is for the prices of certain goods imported to the EU to reflect more accurately their carbon content. The CBAM also aims to encourage third countries, foreign producers and EU importers to reduce their emissions. The CBAM commenced in its transitional phase as of 1 October 2023. Only reporting obligations arise during the Transitional Period (1 October 2023 to 31 December 2025).  More information on CBAM can be found on the website of the Environmental Protection Agency, the CBAM National Competent Authority in Ireland. Minister Troy announces Government funding to ensure continuation of Women in Finance Charter Minister of State with responsibility for Financial Services, Credit Unions, and Insurance, Robert Troy, T.D. has announced direct Government support for Ireland’s Women in Finance Charter, which seeks to improve female representation in financial services firms operating in Ireland. Led by industry and supported by government, the Charter, which originated under the Ireland for Finance strategy in 2022, will receive €50,000 funding to support continued research and data gathering. Women now account for 43.4 percent of senior management amongst signatory firms, compared to 36.2 percent when firms signed up. Over 72,000 employees in financial and insurance sector are now represented in the Charter through 104 signatories. A public procurement process is underway to identify a data partner for the 2026 period. Criticism of the Government’s plan to cope with extreme weather events In a letter to the Government, the Climate Change Advisory Council has criticised the Government’s Sectoral Adaptation Plans (SAPs), published in November 2025, as lacking sufficient ambition, resourcing and systemic approach to prevent, among other things, increased negative economic impacts from extreme weather events. The independent advisory group highlighted, in particular, “the deep uncertainty around the levels of finance available to support meaningful adaptation action”, and the lack of clarity in the prioritisation of actions to address the risks highlighted during the recent National Climate Change Risk Assessment (NCCRA).  In January 2025, Storm Éowyn reportedly caused an estimated €301 million, making it the most expensive insurance event in Irish history, revealing weaknesses in the country’s power, communications and water infrastructure. Globally, the 10 most costly climate-related disasters in 2025 were responsible for an estimated €100 billion in damages. €300 million to support industry to reduce emissions and transition to low-carbon operations €300 million has been allocated in the Department of Enterprise, Tourism and Employment’s Sectoral Capital Plan 2026-2030 to support industry to reduce emissions and transition to low-carbon operations. The allocation is part of a €4.7 billion investment in the Department’s capital plan, which sets out how it will spend €4.7 billion in capital investment over the next five years in order to strengthen Ireland’s enterprise and employment base, attract foreign direct investment, promote innovation and support tourism development across all regions. The Sectoral Capital Plan is part of the Government’s National Development Plan 2026-2030, which aims to provide €275 billion to boost the Irish economy’s competitiveness and growth potential across the key areas of water, energy, transport and housing. 2026 renewable fuel rates announced Minister for Transport Darragh O’Brien has signed regulations giving effect to transport elements of the EU Renewable Energy Directive, including the Renewable Transport Fuel Obligation (RTFO) rates for 2026. Regulations come into effect on 1 January 2026. The Renewable Transport Fuel Policy 2025–2027, published in June 2025, sets out a pathway for increasing renewable transport fuel use. This is to support achievement of Ireland’s Climate Action Plan and EU Renewable Energy Directive 2030 targets, for an increased share of renewable energy in transport and transport decarbonisation.  Ireland a ‘frontrunner in integrating wind power’, international report finds The International Energy Agency (IEA) has published an assessment of Ireland's Energy Security to 2035, in which it states that Ireland is a global frontrunner in integrating renewables, but that strategic choices lie ahead to ensure energy security in the coming decade. The report, 'Powering Ireland's Energy Future',  notes that as Ireland's energy, climate and socio-economic goals align around the electricity system, this could lead to demand potentially doubling and require faster delivery of infrastructure and renewables. There are significant challenges and opportunities ahead to align planning and policies across key sectors of the economy to support a secure, affordable and sustainable energy system. The report sets out five pillars for policy action: establishing a cross-sectoral energy security strategy for the 2030s; delivering the enabling infrastructure to accommodate the growth of electricity demand and supply; accelerating the delivery of generation capacity, storage and demand-side flexibility; enabling secure system operation under high renewable penetration; advancing workforce skills, and strengthening partnerships and facilitating electrification. Government approves the drafting of the Private Wires Bill Government has approved the drafting of the Private Wires Bill, which will amend the Electricity Regulation Act 1999 to enable private development of electricity wires in specific circumstances, including – among other things – to allow on-street charging solutions for Electric Vehicles and to allow a customer that self-supplies electricity to provide electricity to a separate customer in a contiguous premises. Private wires legislation will aid the build-out of Ireland's electricity grid, whilst simultaneously accelerating the roll-out of renewable energy and electricity storage solutions. This bill is the next step in implementing the Private Wires Policy Framework, an action in the Climate Action Plan and Programme for Government 2025. Separately, investment of up to €18.9 billion has been announced for Ireland's energy infrastructure. The aim of the investment is to provide for Ireland’s growing population and to facilitate investment in Ireland’s economy. The programme, which will be supported by €3.5 billion government equity investment in the country’s electricity infrastructure, will facilitate a wide range of infrastructure delivery including increasing capacity on the network and upgrading existing infrastructure to meet the growing electricity demand from homes and businesses, as well as the electrification of public transport projects. 20 new Sustainable Development Goal (SDG) Champions for 2025-2027 20 new organisations from across Irish society have been appointed to become Sustainable Development Goal (SDG) Champions for the next 18 months. Organisations ranging from Galway City Council to Grant Thornton, are leading by example in driving forward progress to achieve the United Nations Sustainable Development Goals (SDGs). This brings to 74 the number of SDG Champions in Ireland now. EUROPE New package of measures to boost circular economy and strengthen Europe's plastic recycling The European Commission has unveiled a set of pilot actions to accelerate Europe's transition to a circular economy, with a particular focus on the plastics sector. By optimising the recycling of plastics, these measures will further unlock the potential of the Single Market and enhance the EU's economic security, strategic autonomy, competitiveness and environmental sustainability. This is in line with the analysis of the Draghi report, which highlights circularity and resource efficiency as key levers for strengthening Europe's industrial competitiveness. Joint Declaration on EU legislative priorities for 2026 signed The Presidents of European Parliament, Council and Commission have signed a Joint Declaration on EU legislative priorities for 2026, focusing on boosting the EU's competitiveness and resilience, safeguarding citizens and businesses, while pursuing ambitious simplification goals and working towards agreement on the next Multiannual Financial Framework. Utmost priority will be given to key policy objectives for a new era for European defence and security, to secure Europe's sustainable prosperity, competitiveness and simplification, to strengthen our societies and our social model and quality of life, to ensure comprehensive approach to broader management and migration, to protect our democracy, uphold our values and to leverage our global influence and partnerships. TECHNICAL ACCOUNTING UPDATE (From our colleagues in Professional Accounting on 19 December) In the EU, Omnibus I concluded on 16 December 2025 when the European Parliament (EP) approved a provisional agreement to simplify and reduce the scope of sustainability reporting and due diligence requirements for companies. Only EU companies with over 1,000 employees on average and a net annual turnover exceeding €450 million will be in scope for the CSRD. The CSDDD will apply only to EU companies with over 5,000 employees and a net annual turnover above €1.5 billion. Please see the final text of the proposal which provides further details.   Accountancy Europe has shared some of its views in relation to the political compromise on the  Sustainability Omnibus Proposals.   The International Sustainability Standards Board (ISSB) has issued targeted amendments to greenhouse gas (GHG) emissions disclosure requirements in IFRS S2 Climate-related Disclosures in response to specific application challenges that were identified as companies started to apply the Standard.   The International Sustainability Standards Board (ISSB) and the German Standard-Setter (ASCG) are jointly hosting the second Sustainability Standards Conference in Frankfurt on 18 May 2026.   The ISSB has published its December 2025 update and podcast.   IAASA has published its observations on Wave 1 CSRD reporting, summarising key findings from their supervisory work during the first year of CSRD implementation in Ireland.   The European Financial Reporting Advisory Group(EFRAG) has published three guides to help SMEs report on disclosures identified as particularly challenging in the public consultation and field test on VSME, as well as a report into the VSME Market Acceptance. This explores the level of awareness in relation to the VSME, as well as its acceptance as a voluntary sustainability reporting tool.   GRI, the Global Reporting Initiative, has conducted research into the value of sustainability reporting. In 22 of the 30 studies reviewed by GRI, a positive correlation was found between companies who disclose their sustainability impacts and improved financial performance. ARTICLES How to begin your sustainability journey- Practical steps, lessons learned and what really matters, by Dr Rosie O’Neill, director of sustainability with IFAC (BusinessPlus) SustainabilityWorks top trends shaping corporate sustainability in 2026 - and why they matter for business performance: (SustainabilityWorks) Powering transport and heating with electricity instead of fossil fuel could save the Republic €2.8 billion a year, experts say (Irish Times) The solution to tackling the climate crisis? We need everything - Wind, solar, green hydrogen - every scalable option shown to work at reasonable cost is required (Irish Times) Ireland’s faltering switch to clean energy laid bare by increase in oil and gas use (Irish Times) Ireland had its warmest spring and summer since 1900 last year (The Journal) Green Debt Sales Hit Record Levels - Investors have piled into climate-friendly assets this year despite policy and regulatory rollbacks in the US and Europe, as artificial intelligence drives a boom in energy infrastructure demand (Bloomberg) Climate insurance legal action surges as property damage costs rise (Financial Times) New York Releases Regulation Requiring Mandatory GHG Reporting for Large Emitters from 2027 (ESG Today) PODCAST “Ireland can’t be sustainable without biodiversity.”   Trinity’s Professor Jane Stout unpacks some of the risks for businesses: supply chains, compliance, reputation and financial exposure (The Energy Canvas, 40 mins, 13 seconds) EVENTS Chartered Accountants Ireland Ulster Society, CAB Series ESG Webinar The Environmental, Social & Governance (ESG) landscape is evolving rapidly, bringing both challenges and opportunities for chartered accountants in business. This webinar will explore how ESG is influencing corporate strategy, performance measurement and stakeholder trust. Speakers will discuss the growing responsibilities of finance professionals, the skills required to navigate ESG effectively, and how chartered accountants can add value in an increasingly sustainability-focused business environment. Virtual, Wed 14 January, 1-2pm Pentland Centre for Sustainability in Business - Lancaster University,  SMEs - Learning about Nature and Biodiversity This is the first in a series of three free webinars from the Pentland Centre for Sustainability in Business aimed at SMEs curious about nature and biodiversity links to business activity. This session provides a natural science introduction to ecosystems and explains how these aspects impact business operations, with examples from different sectors. Virtual |  Thursday 15 January  |   8:00am – 9:00am | 4.00pm – 5.00pm Dublin Chamber, The Sustainability Network - Creating Business Value Through Sustainability Join us on Wednesday the 4th of February for This January, Dublin Chamber is introducing a new Sustainability Network event created for organisations that are facing growing sustainability expectations and are unsure how to turn pressure into progress. Many teams are trying to balance commercial priorities with sustainability planning, often without clear guidance. This interactive event is designed to support that work. In person |  Tue 13 Jan 2026 |  08:30am - 11:00am  |  Dublin Chamber, 7 Clare Street, Dublin 2 D02 F Dublin Chamber, The Sustainability Academy: Green Public Procurement Training Join us on Wednesday the 4th of February for Half-day virtual workshop on Green Public Procurement as part of Sustainable Academy, sponsored by AIB. All companies now need to learn the green public procurement rules to bid and win new contracts with the public sector. Virtual, Wed 4 Feb 2026 | 9am - 12.30pm. Pentland Centre for Sustainability in Business - Lancaster University, Starting Your Journey with Tools and Frameworks Second in the series, this webinar explores tools and frameworks that support decision-making for nature and biodiversity, including the Natural Capital Protocol and TNFD. Learn how these approaches help businesses identify relevant priorities and communicate outcomes effectively. Virtual, Thursday 12 February 2026, 8:00am – 9: 00am | 4.00pm – 5.00pm ICAEW, Putting nature on the balance sheet — Troubleshooting session Troubleshooting session to tackle common challenges on how to embed nature into the activities and processes of the finance function. Virtual, Wednesday, 18 February, 2026, 4 - 5pm CET Pentland Centre for Sustainability in Business - Lancaster University, What Does ‘Good’ Look Like in Corporate Reporting? The final session in the Pentland Centre’s free webinar series for SMEs explores what effective reporting on nature and biodiversity looks like. Drawing on global examples, this webinar highlights best practices and practical approaches for integrating nature and biodiversity into corporate reporting. Virtual, Thursday 12 March 2026, 8:00am – 9:00am | 4.00pm – 5.00pm Sustainability Centre You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.