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  In this week’s Sustainability/ESG Bulletin read about the Irish Government’s Climate Action Plan 2025, Chartered Accountants Ireland’s letter to the Government highlighting SMEs’ sustainability needs, the new Business Energy Upgrades Schemes, new business opportunities to associate with native woodlands, ISIF’s additional €1bn committed to climate investments, and reports into Irelands’ Offshore Wind Strategy, the gender income gap, and EV sales. Also covered are developments in Europe, as well as the usual articles, resources and upcoming events, including the next ESG Network meeting.      Chartered Accountants Ireland news Accountancy Ireland goes digital Accountancy Ireland, the flagship publication from Chartered Accountants Ireland, has published its first fully digital edition in its more than 50 years of publication. In a sustainability-themed issue, April’s Accountancy Ireland includes articles on green energy, infrastructure, sustainability reporting, accounting for sustainability and perspectives from Institute members. Commenting, Institute President Barry Doyle, described the initiative as “reflect[ing] the Institute’s ongoing and long-term goal of reducing our environmental impact for a better tomorrow as articulated in our strategy. In reducing production inputs, transport and waste volumes, we strive to meet this goal for all our benefit.” Congratulations UrbanVolt! Chartered Accountants Ireland congratulates UrbanVolt for winning the ESG Company Award (SMEs) in the Business & Finance Media Group ESG Awards 2025, in partnership with Grant Thornton Ireland. Chartered Accountants Ireland was honoured to have been shortlisted in the category and congratulates all fellow nominees, and all winners, across the 15 categories. Institute shortlisted for Association and Institute Awards Chartered Accountants Ireland has been shortlisted for the Association and Institutes Awards in the following categories: The Rhapsode digital bookshelf for Best Publication The amalgamation for Best Collaboration Project Sustainability / ESG bulletin for Best Blog, Podcast or Video Congratulations to all our fellow nominees across over 19 categories and we look forward to the Awards on 12 June at Royal Marine Hotel, Dun Laoghaire!   IRELAND NEWS Government approves Climate Action Plan 2025 The Government has approved the Climate Action Plan 2025, the roadmap of actions to enable Ireland to achieve its climate objectives. This is the third statutory update to the plan since the Climate Action and Low Carbon Development (Amendment) Act 2021 was signed into law, committing Ireland to achieving by 2050 the transition to a climate-resilient, biodiversity-rich, environmentally sustainable and climate-neutral economy. Described as a ‘streamlined Climate Action Plan’, to be read in conjunction with Climate Action Plan 2024, the 2025 Plan aims to put climate solutions at the centre of Ireland’s social and economic development. It is also the final Climate Action Plan of the first 5-year Carbon Budget – marking an important midpoint in what has been called ‘the decade of climate action’. Institute highlights SME needs in response to Department of Environment, Climate and Communications consultation Chartered Accountants Ireland has responded to the Department of the Environment, Climate and Communications’ public consultation on its 2025-2028 Statement of Strategy. In our submission, we called for the Department to acknowledge the barriers preventing businesses, in particular SMEs, from playing a greater role in tackling the climate and biodiversity crises and to set out a series of clear, practical strategies to address these. Focus should also be given to better communicating the clear commercial opportunities that a transition to a low-carbon, climate-resilient and biodiversity rich economy can bring to Irish businesses. Review of the National Development Plan The Department of Public Expenditure, NDP Delivery and Reform (DPENDR) will commence a review of the National Development Plan, to be completed in July 2025. The review will cover all public capital investment to 2035, including among other things, the Infrastructure, Climate and Nature Fund. The National Development Plan sets out the investment priorities that will underpin the successful implementation of the National Planning Framework (NPF), included under Project Ireland 2040, and wider government policies. The review of the National Development Plan (NDP) will also include a climate assessment of any programmes receiving funding. New Business Energy Upgrades Scheme expands range of grants targeting SMEs Minister for Climate, Environment and Energy Darragh O'Brien officially launched the Business Energy Upgrades Scheme this week, expanding the range of Rapid Approval Grants targeted at SMEs to enable them carry out energy and emissions-saving investments. The range includes the Support Scheme for Energy Audits (SSEA) and the Non-Domestic Microgeneration Grant. These schemes aim to provide ‘substantial support’ to the SME sector to address energy costs and reduce emissions in their buildings, and are open to all businesses, and public bodies, who are upgrading a building they own or occupy. Opportunity for businesses to associate with native woodlands The Minister of State for Forestry, Farm Safety and Horticulture, Michael Healy-Rae, has announced the opening of the updated Woodland Environmental Fund, inviting businesses of all types and sizes to consider participating. In addition to the benefits to local landowners and to Ireland’s native woodlands, participating businesses stand to enhance the reputation of their businesses by association with the creation of “a significant tangible environmental asset that will become a permanent feature of the landscape”. The Minister described the Fund as “an ideal way for a business to exercise, and demonstrate, its corporate social responsibility, as the restoration of Ireland’s once-vast forests of oak, birch and alder delivers real environmental benefits, as well as providing additional income to farmers.” ISIF commits an additional €1bn to climate investments and €500m to Ireland’s regional cities The Ireland Strategic Investment Fund (ISIF), part of the National Treasury Management Agency (NTMA), has committed an additional €1bn to climate investments and €500m to Ireland’s five regional cities of Cork, Limerick, Galway, Waterford and Kilkenny. The announcement comes after new figures published by ISIF show it has exceeded its previous €1bn target for investments in climate and its previous €500m target for investing in regional cities, up to two years ahead of schedule. The new commitments will double ISIF’s commitments to both categories – bringing total climate commitments to €2bn and regional city commitments to €1bn over the next four years. The new commitments coincide with the publication of ISIF’s 10-years of Impact Report which sets out its progress since inception in late 2014. Progress report on Ireland's Offshore Wind Strategy Powering Prosperity Implementation Progress Report, the report published by the Department of Enterprise, Trade and Employment on the progress of Ireland’s Offshore Wind Industrial Strategy, has highlighted milestones in Ireland’s journey towards becoming a global leader in offshore renewable energy. The report states that 38 of the 40 actions outlined in the strategy are either completed or underway. The strategy, which launched in 2024, set out to capture the value of the country’s Offshore Renewable Energy (ORE) supply chain and maximise the economic impact of Ireland’s renewable energy goals. Report finds significant gender income gap persists despite rising number of women in paid work The Irish Human Rights and Equality Commission and the Economic and Social Research Institute have published a report which finds that despite rising numbers of women in paid work, a significant gender income gap persists. The report, Child Related Leave: Usage and Implications for Gender Equality, reveals that there are fewer women in the workforce than men, and that women are more likely to be in part-time work, usually due to caring responsibilities. The gender income gap usually emerges after the birth of a child and continues throughout a woman’s whole life. 84 percent increase in new plug-in hybrid electric vehicles purchased compared to 2024 New electric vehicles licensed in March 2025 rose by 31 percent compared with the same period last year, according to figures published by the Central Statistics Office (CSO) this week. The number of new electric vehicles licensed in March 2025 rose by 31 percent when compared with March 2024 (2,473 vs 1,884). The number of new plug-in hybrid electric vehicles (PHEV) licensed in March 2025 grew by 84 percent when compared with March 2024 (2,202 vs 1,195). Business in the Community Ireland launches 2025-2028 Strategy Business in the Community Ireland (BITCI), the Dublin-based not-for-profit that aims to drive sustainability and social inclusion in business, has launched its Strategy for Impact 2025-2028. The new strategy sets out its vision for supporting businesses to lead the transition to a net zero, nature-positive, and inclusive society. As part of its 25th anniversary celebrations, BITCI is also hosting a landmark conference entitled ‘Lead, Innovate, Achieve: Championing sustainability and social inclusion for 25 years’ in Dublin on 11 September.   EUROPE NEWS Omnibus given final green light The European Council has given its final green light on one of the Commission’s proposals to simplify EU rules. This so-called ‘Stop-the-clock’ proposal postpones the dates of application of the CSRD and CSDDD. Read more from Chartered Accountants Ireland here. Accountancy Europe’s April's Sustainability Newsletter Accountancy Europe’s April's Sustainability Newsletter has published and includes   latest news on the Omnibus ‘stop-the-clock’ proposal, EFRAG updates and more. Among the news covered is the reaffirmation by Accountancy Europe and the International Federation of Accountants (IFAC) of their commitment to high-quality and consistent sustainability assurance, and the proposals by the EU Platform on Sustainable Finance (PSF) of a voluntary and streamlined standard to help SMEs demonstrate their climate-related sustainability efforts. Strengthening society’s engagement with nature The European Environment Agency has published a briefing in support of the implementation of the EU’s Biodiversity Strategy for 2030 and Nature Restoration Regulation. It describes how cultural attitudes influence human interactions with nature, and reviews the societal factors needed to halt and reverse biodiversity loss. Seven key factors are identified as encouraging wide and continued societal engagement in protecting nature, such as ensuring evidence-based decision making and clear and efficient collaboration with stakeholders.  2024 European State of the Climate publishes The European State of the Climate 2024 (ESOTC 2024) report has found that Europe is the fastest-warming continent, and the impacts of climate change are clear. 2024 was the warmest year on record for Europe, with record temperatures in central, eastern and southeastern regions. Storms were often severe and flooding widespread, claiming at least 335 lives and affecting an estimated 413,000 people. During the year, there was a striking east-west contrast in climate conditions, with extremely dry and often record-warm conditions in the east, and warm but wet conditions in the west. The report was released this week by the Copernicus Climate Change Service (C3S) and the World Meteorological Organization (WMO) and involved approximately 100 scientific contributors. WORLD NEWS The IFRS Foundation’s International Sustainability Standards Board (ISSB) and the Taskforce on Nature-related Financial Disclosures (TNFD) have established a partnership to enhance nature-related financial disclosures for capital markets. This new agreement enables the IFRS and TNFD to share research, knowledge, and technical expertise, informing both the ISSB’s Biodiversity, Ecosystems, and Ecosystem Services (BEES) initiative and the nature-related aspects of its efforts to improve industry-focused SASB standards. Articles Climate Action Plan: Rules for car advertising, more energy-efficient buildings: What's in the new Climate Action Plan (The Journal)   Ireland not on 'clear path' to hit climate goals with plan (RTÉ)   Measures in 2025 climate plan will be at centre of social and economic development, Government says (Irish Times)   Making the business case for sustainability after the omnibus (Sustainable Views – Subscription) UK firms ditching diversity and inclusion ‘face higher risk of lawsuits’ (The Guardian)   When fathers don’t take family leave, workplace inequality persists (Irish Times)   “What gets measured gets done” – Catherine Duggan, Head of Sustainability for Grant Thornton on enterprising ESG practices (Business and Finance)   ‘We can’t sacrifice resilience on the altar of efficiency’ - Central Bank warns on deregulation drive (Business Post)   Climate crisis on track to destroy capitalism, warns top insurer (The Guardian)   Did you know? The Tallaght District Heating Scheme is the first large-scale district heating network of its kind in Ireland. To date it has generated almost 6,000 MWh of energy, saving 1,098 tCO2 as of June 2024, and is estimated to generate 270,000 MWh energy over its lifetime (25-35 years). It currently supplies heat to a number of public and residential buildings in the area using waste heat from the nearby Amazon data centre.   Resources Capitals Coalition newsletter Curious about how businesses and finance are redefining value for nature, people, and the economy? Each month, the Capitals Coalition newsletter brings fresh thinking, practical tools, and real-world examples from its global network, spotlighting how organisations are embedding natural, social, human and produced capital into decision-making. From policy shifts to project updates, events and good news, it’s a snapshot of where momentum is building and where you can join in. Subscribe here Chartered Accountants Worldwide - Difference Makers Discuss In case you missed it, Chartered Accountants Worldwide’s latest Difference Makers Discuss with Ainslie van Onselen and Carmine Di Noia, Director for Financial and Enterprise Affairs at the OECD is now available to stream on demand. This exclusive conversation explores: ✅ How finance professionals can tackle climate challenges & drive digital transformation ✅ The OECD’s work with global institutions to promote sustainability & social equity ✅ The evolving role of Chartered Accountants in an ESG-driven world ✅ Practical advice for young CEOs navigating today’s economic landscape ICAEW’s Sustainability Accelerator Programme ICAEW’s Sustainability Accelerator Programme has been designed to equip finance professionals with the strategic insight and technical expertise required to lead sustainability and ESG initiatives in today’s rapidly evolving business landscape. Incorporating ICAEW's popular Sustainability Certificate, this flexible series of elearning resources offers up to 50 hours of professional development.  Events Chartered Accountants Ireland, Chartered Accountants Ireland ESG Network meeting This meeting will be joined by three speakers: Elaine O’Regan,  Managing Editor, Accountancy Ireland will discuss the April Sustainability issue, and the rationale behind Accountancy Ireland becoming a fully digital publication; Laura Hueston, FCA, Co-Founder SustainabilityWorks will provide an update on the Omnibus, and role of sustainability in long-term viability of businesses regardless of row-back at EU and US level on sustainability reporting, Martina Goss, FCA, Business Coaching & Consulting, will discuss business model innovation & new product development: incorporating sustainability, lean methodologies and a new mindset for accountants Presentations from 2.00-3.00 will be followed by a group discussion from 3.00 – 3.30 Virtual (Zoom) email sustainability@charteredaccountants.ie if you want to join the ESG Network.   DCU, Dispatches from a changing climate: Engaging society through activism, storytelling and the arts  DCU’s Institute for Climate and Society annual conference will take place on Tuesday, 29 April on the DCU Glasnevin Campus with keynote speaker Mary Lawlor, UN Special Rapporteur on Human Rights Defenders. The conference will also feature a range of speakers from the arts, the media and academia.  In person, 29 April, Free, 09:00 to 17:00   NatCap, Measuring impacts in the supply chain The supply chain is where many of the most significant nature-related risks and opportunities lie, yet it remains one of the most challenging areas for businesses to measure and manage effectively. As regulatory and investor expectations rise, companies face increasing pressure to evaluate, assess, and manage the nature-related impacts of their supply chains. Join NatCap for a focused session on how to assess these impacts, generate actionable insights to identify priority areas for action, and prepare for evolving frameworks like the TNFD and CSRD (ESRS E4). Virtual, April 29, 12:00 PM   Cork District Society Chartered Accountants Ireland, Sustainability for Success Join us on Thursday, 15 May from 1-2pm for the first webinar in the Cork Society Chartered Accountants in Industry Webinar series on Sustainability for Success: How Freefoam is Building a Future-Fit Organisation with Kevin Cronin, COO and Sustainability Lead at Freefoam. Virtual, 15 May 2025, Free, 12.00-13.00   Chartered Accountants Ireland, The SME and SMP Sustainability Workshop A workshop for SMEs and small/medium accounting practices (SMPs) on how to get ahead of the sustainability curve. This interactive half-day session will focus on positive actions you can take to understand the ‘trickle-down’ effect of the Corporate Sustainability Reporting Directive ('CSRD’), green public procurement, access to sustainable finance, and how to make your practice more sustainable to save costs and respond to staff and client demands. Virtual, 23 May, 9.30- 12.30; €60 members; €75 non-members; 3 hours CPD points.   EPA, EPA Annual Climate Change Conference 2025 The EPA Annual Climate Change Conference will be held on Wednesday 28 May 2025 in Dublin Castle. Please save the date for this event. In person, May 28, 2025   Sustainability Centre You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.        

In order to assist readers, we have highlighted some key information resources to help you understand the impact of last week’s tariffs. There have been comments from all across the Accountancy profession, including some helpful publications providing tips for businesses as they adapt to the new global trading conditions. We also bring you the official White House publications which have accompanied the announcement of the tariffs. This includes the Fact Sheet which sets out the administration’s basis for claiming that the tariffs are a necessary tool to combat the myriad trade deficits the US operates with its global trading partners. Press releases from Government and the EU Statement by President von der Leyen on the announcement of universal tariffs by the US Statement by Taoiseach Micheál Martin on US decision to impose tariffs Statement from the Tánaiste on US announcements on tariffs House of Commons on what US tariffs on EU goods could mean for Northern Ireland Commentary from Accountancy profession KPMG - US tariffs - Understanding the implications for Ireland and the EU Grant Thornton - The implications of tariffs and trade wars PwC - US reciprocal tariffs EY – What are the implications of US President Trump’s reciprocal tariffs on global trade Deloitte - Tackling shifting tariffs: Timely tips for business leaders BDO – Tariffs & Trade in 2025: Practical Steps for Exporters and Importers Insights from Tax Research Tax Foundation - Trump Tariffs: The Economic Impact of the Trump Trade War Chartered Accountants Ireland reaction to US administration’s new tariffs Parliamentary Budget Office Trade between Ireland and the US April 2025 Official White House material Official White House Executive Order Official White House Article – “Tariffs Work – and President Trump’s First Term Proves It” Official White House Fact Sheet declaring National Emergency US International Trade Administration Official Website 2025 National Trade Estimate Report on Foreign Trade Barriers

US President Donald Trump last week announced 20 percent tariffs on all imports from the EU stating the imposition of the ‘reciprocal’ tariffs was required to address tariff and non-tariff barriers imposed by US trading partners. The Institute’s Director of Members and Advocacy, Cróna Clohisey has called the move a “regressive step” and is urging the Irish Government to work with the EU Commission to engage with the US administration in constructive dialogue. The Taoiseach, Micheál Martin released a statement noting his deep regret at the decision to impose 20 percent tariffs on imports from across the EU saying that Ireland would consider with EU partners on how best to proceed. The Taoiseach commented that the Irish economy is resilient, and that it is starting from a strong position. He is confident that we will weather the ensuing upheaval to global trade. The President of the European Commission, Ursula von der Leyen also released a statement noting the deeply regrettable choice which will massively impact the global economy. In setting out the many ways the tariffs will negatively impact citizens, she expressed a sincere openness to negotiating with the US.

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

Commenting on the US administration’s new tariffs, Cróna Clohisey, Director of Members and Advocacy, Chartered Accountants Ireland said: “The announcement of 20% tariffs on imports from the EU by US President Donald Trump last night is a regressive step in transatlantic trade relations and upends the principle of open and fair trade. We urge the Irish government to work with the EU Commission to find a way to engage the US in constructive dialogue which prioritises solutions over a cycle of retaliatory measures. A further escalation in trade tensions will risk jobs, businesses and economies not just on the island of Ireland, but across the world. Without a doubt, these tariffs will cast a shadow of uncertainty over the stability of Ireland’s future corporation tax receipts with the stated aim of the tariff war being to ‘onshore’ many of the US multinationals operating overseas. As an all-island body, it is equally regrettable to see a 10% tariff announced on imports to the US from Northern Ireland, adding an additional pressure to businesses who are still navigating the complex trading landscape post Brexit. For now, we need to focus on what we can control. Prioritising Ireland’s competitiveness on the global stage will require urgently addressing our persistent infrastructural deficits. Our infrastructure is 25% less developed, on average, than other high-income European countries. This is not sustainable, particularly in the face of such protectionist measures. Now is the time to utilise the resources already at our disposal to accelerate investment in housing, water, energy and transport to best position the economy for growth - not only in terms of continued inward investment but also supporting domestic enterprises that comprise 99.8% of businesses in Ireland.”

    In this week’s Sustainability/ESG Bulletin read about Ireland’s green skills shortage, the global and Irish weather reports, and the costs, opportunities, and role of tax in the sustainability transition. Also covered is an increase in EVs in Ireland, lessons on sustainability from Nordic companies, a new framework to implement the Dasgupta Review recommendations, sustainability as a priority for MEPs, EU omnibus developments, and news from the US SEC as it votes to stop defending climate disclosures, as well as the usual articles, resources and upcoming events.   IRELAND Small Scale Renewable Electricity Support Scheme (SRESS) The Department of the Environment, Climate and Communications has recently launched a scheme that aims to support SMEs to establish their own export renewable electricity projects. Support is provided in the form of a guaranteed tariff for their electricity produced and is provided for 15 years. More information on the scheme can be found here.   Clear skills shortage challenges move to sustainable model for Irish business Research recently published by Skillnet Ireland has shown that a shortage of skilled workers is a challenge for business, particularly for SMEs, in moving to a more sustainable model. The research report, Ireland’s Talent Landscape 2025: Future Skills Challenges of Irish Business, identified the skills challenges facing businesses in adapting to the changing nature of work in the face of the digital, artificial intelligence (AI) and green transitions. It identified a growing recognition among businesses of the importance of climate action and sustainability expertise, alongside a clear skills shortage of green talent. At least two-thirds (66 percent) of businesses said they will need climate action and sustainability related upskilling.   SEAI report highlights costs and opportunities of energy transition   Achieving Ireland’s energy transition could result in up to €19 billion of capital expenditure per year by 2030 according to a new report by the Sustainable Energy Authority of Ireland (SEAI). The report, Ireland’s Sustainable Energy Supply Chain Opportunities, highlights the importance of collaboration between the public and private sectors to fulfil our energy transition goals. It outlines six recommendations, including developing skills and certifications, leveraging R&D capabilities, promoting sustainable practices, focusing on high-value markets, capturing the preliminary phase of the supply chain for key technologies and the installation and commissioning markets of technologies.   The role of tax in the green transition The Department of Finance has published an update to the methodology for Green Budgeting in Ireland from a Tax Perspective. It describes green budgeting as a “process which seeks to consider the impacts of the budgetary process and wider fiscal policy on the transition to a more sustainable, environmental and climate friendly economy … an explicit recognition that the budgetary process is not neutral, but reflects long standing societal choices about how resources are deployed.” The report finds that, overall, the tax system in Ireland as a whole can be considered climate positive in monetary terms, and that recent budgetary changes have improved the climate positive contribution of the tax system. It further recommends that policy and policymakers will need to be cognisant of, and integrate, environmental costs and benefits into medium- and longer-term fiscal planning. This paper also complements the efforts of the EU and the OECD to advance green budgeting practices at a national level. On Thursday 24 April the European Parliament’s Subcommittee on Tax Matters (FISC) will host a public hearing on the role of tax in aligning the green transition and competitiveness.   Potentially challenging outlook for Ireland’s electricity grid Eirgrid, which is responsible for managing, planning and operating Ireland’s high voltage electricity grid and market, has released its All-Island Resource Adequacy Assessment 2025-2034. The assessment looks at the balance between electricity demand and supply on the island of Ireland for the next 10 years. It shows “a potentially challenging outlook” in Ireland over the next few years, and that further new electricity generation will be required to secure the transition to high levels of renewable electricity over the coming decades.   Ireland and global climate 2024 show that robust adaptation is needed Met Éireann’s recently published ‘Ireland’s Climate 2024 Provisional Summary Report’ confirms that 2024 was the fourth warmest year on record for Ireland. The release coincides with that of the World Meteorological Organisation (WMO)’s State of the Global Climate 2024, which documents 2024 as the warmest year in global records, with key climate change indicators again reaching record levels. Commenting, Met Éireann Senior Climatologist Dr Pádraig Flattery warned that rising temperatures increase the chance of severe weather events and emphasise the need for climate action to reduce greenhouse gas emissions, as well as robust adaptation to deal with the consequences of climate change.   Public consultation on first National Public Procurement Strategy The Department of Public Expenditure NDP Delivery and Reform has launched a public consultation on the first National Public Procurement Strategy . The consultation will run for eight weeks and is open to all those with an interest in the future direction of public procurement in Ireland, including public bodies, NGOs, community groups, political representatives, academics and members of the public. Commenting on the launch, Minister for Public Expenditure, NDP Delivery and Reform, Jack Chambers, explained that “[t]he focus of the strategy will be on increasing SME participation in public contracts and leveraging public procurement to support sustainability and innovation concerns, it will also support increasing openness and transparency in public procurement processes.” Government is particularly keen to have inputs from members of the business community including social enterprises and SMEs.   Increase in Ireland’s climate finance spending Ireland’s recently published Climate and Environmental Finance Report 2023 shows an increase of 32 percent in Ireland’s climate finance spending between 2022 and 2023. The report, which is produced annually by the Department of Foreign Affairs and Trade, describes the levels, channels and focus of funding provided by the Irish Government to support climate action and environmental protection in developing countries. In July 2022 the Irish Government published Ireland’s International Climate Finance Roadmap, an all-of-government plan setting out the pathway for realising the target announced by the Taoiseach at COP26 to provide at least €225 million in climate finance per year by 2025.   High response to EV Grant Scheme for taxis, hackneys and limousines A statement published by ZEVI, the Department of Transport office to support  the switch to zero emission vehicles, has reported unprecedented interest from taxi, hackney and limousine operators in Ireland in the  2025 eSPSV Grant Scheme (eSPSV25), which is now fully subscribed. The Scheme helps accelerate the transition to EVs in the small public sector vehicle industry and supports those who are scrapping older, more polluting, or high mileage vehicles to go electric. The National Transport Authority (NTA) will temporarily pause the scheme to review and process the eligible applications received. Following assessment of the initial applications, the scheme may reopen later in the year. Separately, figures released by the Central Statistics Office (CSO) show that the number of new electric vehicles (EVs) licensed in February rose by 38 percent when compared with February 2024, meaning that the share of EVs among new private cars increased to 20 percent in February compared with 15 percent in the same month in 2024. The number of new plug-in hybrid electric vehicles (PHEV) licensed in February grew by 65 percent when compared with February 2024, increasing the share of PHEVs among new private cars to 15 percent in February from 9 percent in February 2024. The combined share of petrol and diesel cars among new private cars licensed year to date has fallen in comparison with 2024 from 51 percent to 42 percent.   Navigating the Nordic Sustainability Landscape: Key Insights for Irish Companies Enterprise Ireland have published a short guide for Irish businesses looking to align with the sustainability expectations of Nordic companies. The guide identifies several strategies that can be adopted, including embedding sustainability into the core business models, addressing the full ESG spectrum (conducting a Double Materiality Assessment), staying updated, communicating transparently, and pursuing certifications and eco-labels such as B-Corp, ISO14001 and ISO26000 and Nordic Swan Ecolabel.   BioPharmaChem industry carbon emissions associated with energy consumption drops, report finds A new report by BioPharmaChem Ireland (BPCI) finds that the biopharmaceutical and chemical sectors have made significant progress toward sectoral sustainability goals over the past three years despite a 5.8 percent increase in production and strong employment growth. The Sustainability Strategy and Responsible Care Report 2025, which tracks industry progress in energy, emissions, data, and culture, has found that between 2022 and 2024 carbon emissions fell by 26 percent, water use decreased by 2.9 percent, and energy consumption declined by 4.5 percent. Renewable sources now supply over two-thirds of the industry's electricity, including on-site generation. While efforts to reduce Scope 3 emissions are ongoing, the report highlights that 53 percent of sites face challenges in gathering the necessary data, and calls on the Government to further improve competitiveness in Ireland by improving the capacity and reliability of the electricity grid, supporting greater availability of grid storage solutions, improved smart grid systems for better energy management, and streamlined regulatory and planning approval processes for renewable energy projects.   NORTHERN IRELAND/UK Northern Ireland’s Energy Strategy Action Plan publishes Northern Ireland’s  Energy Strategy Action Plan 2025 - March 2025 has published, setting out a roadmap for 2025 to advance the transition towards secure, affordable and clean energy for the region. This is the fourth annual action plan to be published following the launch of the Executive’s Northern Ireland Energy Strategy ‘Path to Net Zero’ in 2021, which sets out a pathway for energy to 2030. The Energy Strategy Action Plan 2025 is a key step to achieving the Strategy’s commitment to self-sufficiency in affordable renewable energy. It was published alongside an Energy Strategy Action Plan Report 2024, detailing progress on a range of actions carried out by the Department and Government partners in 2024.    Implementing the Dasgupta Review The UK independent think tank Green Alliance has published proposals to create a framework to factor nature properly into economic decision making. The report, The nature of our economy: implementing the Dasgupta Review, follows the Dasgupta Review, commissioned by the UK Treasury and published in 2021, which exposed the failure in mainstream economics to account for the true value of nature, a failure the report says ultimately will erode GDP and lead to long-term economic instability.     Transparency in supply chains: a practical guide (accessible) The UK Home Office has published statutory guidance aimed at increasing transparency in supply chains, and urges businesses to be vigilant to ensure they are not knowingly or unwittingly complicit in this abuse taking place in their operations and global supply chains. The guidance ‘Transparency In Supply Chains (TISC)’ states that "No part of the world is free from modern slavery and no industries are immune to the risk of modern slavery”. According to the most recent Global Estimates of Modern Slavery, there were an estimated 27.6 million people living in forced labour in 2021 (of which 3.3 million were children), estimated to generate £185 billion in illegal profits every year.   EUROPE Omnibus update MEPs have voted to approve the proposed “stop-the-clock” procedure recommended under the EU omnibus which proposed simplifications to sustainability regulations, including the Corporate Sustainability Reporting Directive (CSRD) and to delay the next wave of companies coming into scope by two years, and to delay the transposition of the  Corporate Sustainability Due Diligence Directive (CSDDD). On Thursday 3 April, the European Parliament voted to postpone the application dates for new EU laws on due diligence and sustainability reporting requirements. Member states will have an extra year – until 26 July 2027 – to transpose the due diligence rules into national legislation.  Application of the sustainability reporting directive will also be delayed by two years for the second and third waves of companies covered by the legislation. Large companies with more than 250 employees will be required to report on their social and environmental measures for the first time in 2028 for the previous financial year, while listed small and medium-sized enterprises will have to provide this information one year later. Sustainability a priority for MEPs for 2026 EU Budget MEPs have adopted their priorities for the 2026 EU budget on Wednesday, emphasising defence, prosperity and sustainability. Next year’s budget should focus on strategic preparedness and security, economic competitiveness and resilience, sustainability, climate, and the single market, as MEPs call for additional investment in research, innovation, enterprises, health, energy, migration, border protection, digital and green transitions, job creation and opportunities for young people. The Commission is expected to present its proposal for next year’s budget in June 2025. The budget needs to be agreed between the Council and the Parliament by the end of this year.   WORLD Corporate income tax and the Net-Zero Transition (From our colleagues in Tax) The OECD has published a working paper on the impact corporate income tax (CIT) design can have on investment by the private sector in clean technologies to help achieve net-zero climate goals. Setting out a conceptual framework of the key channels through which CIT can influence investment in clean technologies, it also identifies policy implications and potential policy options to enhance the alignment of CIT with climate policy objectives.   US SEC votes to stop defending climate disclosure rules The US Securities and Exchange Commission (SEC) has voted to end its legal defence of its climate disclosure rules which required large corporations to disclose the impacts of climate change on their businesses. In 2024 the Securities and Exchange Commission (SEC) had adopted rules to enhance and standardise climate-related disclosures by public companies and in public offerings. The vote reportedly allows the SEC to “effectively walk[] away from its regulation requiring companies to report on climate risks and greenhouse gas emissions, without actually having to rescind the rules”. Technical Roundup (From our colleagues in Professional Accounting) Following Omnibus proposals, the Chair of the Global Sustainability Standards Board has highlighted short-term pressures that exist to weaken regulations and why now is the time for the EU to show global leadership.   7 April: European Financial Reporting Advisory Group (EFRAG) is holding “VSME in Action: Empowering SMEs for a Sustainable Future” looking at how the standard can be implemented.   EFRAG and the CDP have published correspondence mapping between the CDP question bank and ESRS E1. The International Sustainability Standards Board (ISSB) has published the recording of 'The future of integrated reporting and integrated thinking', its eighth 'Perspectives on sustainability disclosure' webinar and its March 2025 podcast discussing the latest developments around the ISSB. The IFRS Foundation has published a ‘Roadmap Development Tool’ to support jurisdictions in the planning and design of their adoption roadmaps for ISSB standards. It has also released series of webcasts to support companies in identifying and disclosing material information about sustainability-related risks and opportunities.   Articles How suppliers should be supporting their customers’ carbon accounting (Accountancy Age)   Climate Mitigation vs Climate Adaptation: What's the Difference? (Climate Action for Associations)   Big businesses can’t afford to overlook SMEs in their supply chain (Edie)   Catastrophe Experts Tap AI to Tackle Soaring Insured Losses (Bloomberg)   The broken rung in the career ladder - why women continue to earn less (The Irish Times)   EU pushes for citizens to prepare three-day survival kits (RTÉ)   Can Ireland bridge the gap to net zero? (Accountancy Ireland - Briefly)   Proposed public sector accounting standards ‘could encourage greenwashing’ (ICAEW Insights)   Resources Enterprise Ireland are running Sustainability Kickstarter workshops for SMEs. Workshops will be held on the 10th April, 2nd May, 16th May and the 6th June.   Accounting for Sustainability (A4S) has published a 4th edition of its Navigating the Reporting Landscape guide. New content includes an update on regional developments, such as California’s Climate Disclosure Rules and the new proposals in the EU Omnibus, as well as changes to international standards, such as those on sustainability assurance.    Events Chartered Accountants Ireland ESG Masterclass: Take your sustainability knowledge to the next level (ROI/NI) Masterclass designed for all professional accountants working in business or practice, wishing to consolidate their knowledge and understanding of the sustainability regulatory, reporting and assurance landscape. 9 April, 08:30 – 14.00, Virtual Cork District Society Chartered Accountants Ireland, Navigating Tomorrow: Finance, Sustainability & Strategy for Irish SMEs Paul O'Donovan and Associates, in collaboration with VBC, invite you to their April conference; "Navigating Tomorrow: Finance, Sustainability & Strategy for Irish SMEs". Tickets are free but registration is required. In person, Clayton Hotel, Cork city, Tuesday 15 April 2025,8.15am - 1.00pm Chartered Accountants Ireland, The SME and SMP Sustainability Workshop A workshop for SMEs and small/medium accounting practices (SMPs) on how to get ahead of the sustainability curve. This interactive half-day session will focus on positive actions you can take to understand the ‘trickle-down’ effect of the Corporate Sustainability Reporting Directive ('CSRD’), green public procurement, access to sustainable finance, and how to make your practice more sustainable to save costs and respond to staff and client demands. Virtual, 23 May, 9.30- 12.30; €60 members; €75 non-members; 3 hours CPD points. EPA, EPA Annual Climate Change Conference 2025 The EPA Annual Climate Change Conference will be held on Wednesday 28 May 2025 in Dublin Castle. Please save the date for this event. In person, May 28, 2025 Sustainability Centre You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.