News

  In this week’s Sustainability/ESG Bulletin from Chartered Accountants Ireland read about the ESG Network for Chartered Accountants, the new Large Energy User Action Plan (LEAP), how renewable-energy-use has increased in Ireland, and how climate data shows Ireland facing extreme weather in the future. Also covered is Northern Ireland’s moves towards a circular economy, and how the Global Risks Report 2026 identifies uncertainty as the defining theme of global risks, as well as the latest articles, resources and upcoming events.   ESG Network for Chartered Accountants Are you a Chartered Accountant working in ESG/Sustainability or working on ESG-related projects?  Would you like an opportunity to engage with other Chartered Accountants working in this space to share insights, challenges and opportunities?  Chartered Accountants Ireland’s ESG Network allows members working in sustainability/ESG to meet and discuss all matters of interest re ESG and accounting. Next meeting | 28 January 2026, 14.00-15.00 Guest speakers: Eva Sheehy, a Managing Director in CFGI’s Accounting Advisory practice and Dee Moran, Head of Professional Accounting in Chartered Accountants Ireland to discuss developments in sustainability reporting.  If you are a member and would like to join us, email sustainability@charteredaccountants.ie IRELAND Government publishes Large Energy User Action Plan (LEAP) The Government has published its Large Energy User Action Plan (LEAP), laying the foundation for future investments in energy-intensive sectors in an effort to safeguard the energy security, affordability and the competitiveness of Irish enterprise. LEAP aims to facilitate future investment in energy intensive sectors, address existing barriers to energy intensive industrial developments and ensure continued alignment with Ireland’s green energy transition. The implementation of LEAP will provide for green energy parks co-locating energy intensive industrial development with the supply of renewable energy, by private developers. These will be informed by a forthcoming National Planning Statement and other government and regulatory policies Renewable energy use increases in Ireland Renewable energy accounted for 40.2 percent of electricity generated in Ireland in 2024, up from an average of 5.1 percent in 1990-1994. This is according to Environmental Indicators Ireland 2025 – Economy, Emissions and Energy figures released by the Central Statistics Office. The figures also show that environment taxes in Ireland amounted to €5.5 billion in 2024, up 10.8 percent on the 2023 figure of €4.9 billion. Environmental subsidies and similar transfers in Ireland were €1.8 billion in 2023, up from 14.7 percent from the 2022 figure of €1.6 billion. Fossil fuel subsidies (financial incentives provided by governments to oil, gas, and coal industries) were €4.9 billion in 2023, up 4.9 percent from €4.7 billion in 2022, and up 74.2 percent from the 2021 figure of €2.8 billion. Commenting on the release, Reamonn McKeever, CSO Statistician said it highlights that as Ireland’s economy and population grows, production of energy continues to increase to meet that demand. More of that energy is now sourced from renewable sources, which in turn drives lower emissions from energy production. That statistics also show that electric and hybrid cars made up 45.8% of new licenses. Ireland faces extreme weather Climate data from the EU’s Copernicus monitoring service has revealed that 2025 was Earth’s third hottest year on record. The Global Climate Highlights report noted an 11-year streak of temperatures above normal, with analysts warning that this trend will continue, worsening underlying climate conditions. The report notes that Europe was impacted throughout the year by a range of storms and precipitation events, from convective storms to named storms, often associated with flooding, and mentioned Storm Éowyn, which hit Ireland in January 2024 and led to an insurance industry estimated bill of over €301 million. NORTHERN IRELAND Moves towards circular economy in Northern Ireland The Department of Agriculture, Environment and Rural Affairs (DAERA) is inviting responses to a public consultation on a new strategic approach to the management of resources and waste in Northern Ireland until 2031. Rethinking Our Resources: Northern Ireland Resources and Waste Management Strategy aims to move away from the linear model – of take, make, use and dispose – towards a circular approach of reduce, reuse, repair and recycle – leading by example in how to best manage natural resources and the benefits that can bring. The closing date for responses is 23:59 on 8 April 2026. Progress update on Northern Ireland’s Energy Strategy Economy Minister Dr Caoimhe Archibald has published the Mid-Term Review of the Northern Ireland Executive’s Energy Strategy: The Path to Net Zero Energy. This strategy was published at the end of 2021, followed by the Climate Change Act (Northern Ireland) 2022. It sets out 2030 targets on a pathway to net zero energy by 2050, aiming to make energy secure, affordable and clean for current and future generations. The Review assesses progress against core targets, addresses delivery challenges, and proposes strengthened governance arrangements to ensure success in achieving the 2030 targets. Progress described includes: a 53 percent growth in the turnover of the region’s low-carbon and renewable energy economy since 2015 £72 million of ‘invest to save’ across 160 projects delivering annual energy savings of more than £10 million in the government estate and lowering emissions publication of the final scheme design for the Renewable Electricity Price Guarantee (support scheme). The Department has also produced a suite of updated energy evidence reports, and an interactive dashboard tracking progress against energy strategy targets and metrics. WORLD Uncertainty the defining theme of global risks, says Global Risks Report 2026 Uncertainty is the defining theme of the global risks outlook in 2026, according to the Global Risks Report 2026, which was published this week by the World Economic Forum. According to the report, which presents – among other things – survey insights from over 1,300 experts worldwide, a “contested multipolar landscape is emerging where confrontation is replacing collaboration, and trust – the currency of cooperation – is losing its value.”  Short-term concerns are heightened, the multilateral system is under pressure, economic risks are intensifying.     The report concludes its key findings section with a note of hope: “Yet, history reminds us that order can be rebuilt if nations choose strategic collaboration even amid competition. The future is not a single, fixed path but a range of possible trajectories, each dependent on the decisions we make today as a global community.” TECHNICAL ACCOUNTING UPDATE (From our colleagues in Professional Accounting on 9 January) The European Commission issued an update regarding the Carbon Border Adjustment Mechanism (CBAM) operational procedures. Other documents have also been published to support businesses in scope of CBAM including: CBAM Compliance Essentials for Importers and Indirect Customs Representatives as from 1 January 2026 CBAM Quick Guide List of National Competent Authorities for CBAM The Environment Protection Agency (EPA) has been appointed as the national competent authority in Ireland. CBAM becomes fully operational on 1 January 2026, marking the end of the two-year transitional phase (2023-2025). Following the release of the draft simplified European Sustainability Reporting Standards (ESRS), EFRAG has published the following documents, which are aimed at supporting users of the standard: Basis for Conclusions Cost–benefit analysis Logs of amendments for the 12 standards and for Annex II (Aggregated acronyms and glossary of terms) Comparative table of texts (Set 1 / ED / Technical Advice) for the 12 standards and for Annex II (Aggregated acronyms and glossary of terms) Explanatory note on Article 29b and its Annex 🎙️The International Sustainability Standards Board (ISSB) has issued its Q1 Implementation Insights Podcast. This episode highlights some of the resources available to support companies applying the ISSB standards. The European Supervisory Authorities (ESAs) including EBA, EIOPA and ESMA published Joint Guidelines on environmental, social, and governance (ESG) stress testing. These Guidelines provide national insurance and banking supervisors with clear guidance on how to integrate ESG risks into supervisory stress tests, both when using established frameworks and when conducting complementary assessments of ESG risk impacts. The Joint Guidelines apply from 1 January 2027. ARTICLES Navigating the CSRD Omnibus: A pivotal moment in EU Sustainability Reporting – (BDO) Environmental regulators should help businesses meet rules, says watchdog (Sustainable Views – Subscription needed) Women command less than one-fifth of senior roles in Ireland’s financial sector (Irish Times) In the absence of urgency, only thing changing is our weather - Ireland not immune to destructive events causing havoc worldwide (Irish Times) ‘A long road ahead’: How Ireland’s plan to revive data centre growth is being received (Business Post – Subscription needed) EVENTS CAW Network USA — Beyond Accounting: Sustainability Reporting This online session explores the evolution of sustainability reporting as an essential component of modern accounting. Topics include: the shift from traditional financial statements to ESG-integrated disclosures; materiality principles (financial, impact, double, dynamic); stakeholder demands; risks like greenwashing; and practical steps to embed sustainability into strategy. Attendees will gain clarity on ESG frameworks, governance, assurance, and navigate an increasingly stringent regulatory landscape. Virtual | Tuesday, 27 January 2026 | 12:00 pm – 1:30 pm EST Grant Thornton, From ambition to action: Decarbonisation in practice Join GT for an engaging and practical discussion focused on how organisations are navigating the realities of decarbonisation in Ireland today. Expert speakers will share real-world insights on operational delivery, policy pressures, infrastructure constraints and the trade-offs involved in moving from ambition to action. This session brings together leaders from logistics, energy and technology to explore what decarbonisation looks like in practice across different sectors, and what is genuinely driving progress. Speakers: Owen Keogh, Head of Sustainability, An Post; Richard Scannell, Head of Public Policy, AWS;  and Niall Hogan, Sustainability Leadership Plan Lead, ESB. Spaces are limited, so please register early to secure your place. In person, Grant Thornton 13-18 City Quay Dublin 2 D02 ED70 |Thursday, January 29 | 9:00 a.m. - 10:30 a.m. | BDO Ireland & BDO UK — Top Sustainability Trends for 2026 – Webinar As organisations navigate climate change, evolving EU/UK policy, and ESG reporting demands, this online session brings together senior sustainability specialists to unpack regulatory shifts (CSRD, IFRS, sustainability reporting, CBAM, EUDR), strategic implications for business, and actionable priorities for 2026, finishing with a live Q&A. Virtual | Thursday, 29 January 2026 | 12:30 pm (GMT) | Online webinar 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 4th 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.

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.

As Ireland prepares to take on the rotating Presidency of the Council of the EU for the 8th time from July, we advocate a solutions-driven approach, advancing competitiveness, regulatory simplification, coherence, consistency and long-term economic resilience. By fostering open dialogue, communicating the benefits of EU membership, and involving our members and networks, on behalf of our 40,000 members, we will support a Presidency that advances policy but also builds ownership and delivers meaningful outcomes for people, businesses, and communities.   Read the Consultation response

  In this week’s Sustainability/ESG Bulletin, read about the speech by Central Bank of Ireland’s Governor Gabriel Makhlouf highlighting the need to ensure climate action remains a priority for the financial sector. Also covered are the new measures to enhance road transport’s safety and environmental impact, EFRAG’s draft simplified European Sustainability Reporting Standards and its new ESRS Knowledge Hub, developments in sustainability reporting and due diligence legislation, and the World Economic Forum’s report finding that growth in green investments has not wavered, as well as the latest articles, resources, jobs and upcoming events. IRELAND “A real economy transition” The Central Bank of Ireland’s Governor Gabriel Makhlouf has delivered a speech at the Climate Risk and Sustainable Finance Forum this week where he highlighted the need to ensure climate action remains a priority for the financial sector, and emphasised the Central Bank’s focus on climate risk and sustainable finance. Explaining the need for a focus on tangible outcomes that support the transition and adaptation, Governor Makhlour encouraged the Forum to continue to promote a collaborative approach to how the financial sector supports the transition and adaptation: “We must recognise that the journey to net-zero is, at its core, a real economy transition. The financial sector’s task is not just to manage the risks on its balance sheets, but to provide the incentives and the funding to ensure that households and businesses make the low-emission choices required to secure our collective future. My call to you is that we commit to staying the course together.” New measures to enhanced road transport impact The Minister of State with responsibility for International and Road Transport, Logistics, Rail and Ports, Seán Canney, TD has welcomed EU Council agreement on two major legislative initiatives: the Weights and Dimensions Directive and the Roadworthiness Package. The revised Weights and Dimensions Directive, among other things, promotes the use of zero-emission trucks by allowing them to exceed standard weight limits, supporting the decarbonisation of transport across the European Union. The Roadworthiness Package consists of two legislative proposals to enhance road safety and environmental protection. Following approval by the Council, the presidency can start negotiations with the European Parliament to reach a final agreement. EUROPE EFRAG issues draft simplified European Sustainability Reporting Standards and launches ESRS Knowledge Hub The European Financial Reporting Advisory Group (EFRAG) has published the draft simplified European Sustainability Reporting Standards (ESRS), along with its technical advice to the European Commission. In its press release, EFRAG have highlighted many of the simplifications implemented which it hopes will help reporting companies integrate sustainability reporting into their business. Read more from our Professional Accounting team. “An alarming dismantling of good policymaking”  The EU parliament and member states have reached a provisional deal to update EU rules on sustainability reporting and due diligence requirements for companies. Social and environmental reporting will only be required for EU companies employing on average over 1,000 employees and with a net annual turnover of over €450 million. The net turnover threshold has also been increased for non-EU companies to €450 million generated in the EU for sustainability reporting. Only large EU corporations with more than 5,000 employees and a net annual turnover of over €1.5 billion will need to carry out due diligence to minimise their negative impact on people and the planet, and will no longer need to prepare a transition plan to make their business model compatible with the Paris Agreement. They will remain liable at national rather than EU level for non-compliance and could face fines of up to 3 percent of the company’s net worldwide turnover, reduced from 5 percent as previously stated.  The rules will also be delayed by a year, coming into force from July 2029. Some commentators are likely to welcome the row back: several companies had reportedly consistently lobbied against the regulation, due to be phased in from 2027, which would have required in-scope companies to ensure that their supply chains do not harm the environment or human rights.  Others commentators, like Richard Gardiner, interim head of EU Policy at ShareAction, reportedly described it as “an alarming dismantling of good policymaking” after intense pressure: “These losses matter. They do not make Europe more competitive. Instead, they weaken Europe’s unique competitive edge.” The announcement comes less than a week after Parliament and Council negotiators reached a provisional political agreement on a one-year postponement of the EU Deforestation Regulation for all businesses. Provisional agreement on EU Climate Law amendment Negotiators from Parliament and Council have reached a provisional political agreement on an amendment to the EU Climate Law, setting a new, intermediate and binding 2040 EU climate target of reducing net greenhouse gas (GHG) emissions by 90 percent compared to 1990 levels. Also agreed on Tuesday was the introduction of ‘new flexibilities’ in how the 2040-target can be met. The EU Climate Law makes the goal of climate neutrality by 2050 a legally binding obligation for all EU member states, establishing a legally binding target for the EU to reduce net GHG emissions by at least 55 percent by 2030, compared to 1990 levels. The European Parliament will now vote on the informal agreement and Council will also have to endorse it. It will enter into force 20 days after it has been published in the EU Official Journal. December issue of Accountancy Europe’s Sustainability Update Accountancy Europe’s December Sustainability Update published this week, with the following highlights: EFRAG provides technical advice with draft Amended ESRS to Commission ENVI-ECON Committees reject motion for resolution to object EU Taxonomy ‘Omnibus’ DA European Parliament supports further delay and simplifications of Deforestation-Free Products Regulation Ombudswoman finds Omnibus I a case of maladministration European Commission simplifies rules for sustainable financial products IAASB provides examples on how to apply ISSA 5000. WORLD The World Economic Forum has published a report finding that, overall growth in green investments has not wavered, despite recent headlines suggesting the climate transition is stalling. The report, published in collaboration with Boston Consulting Group, is titled Already a Multi-Trillion-Dollar Market: CEO Guide to Growth in the Green Economy Worth over $5 trillion per year, and identifies the green economy as the world’s most dynamic growth sector after technology. It suggests that green revenues are growing twice as fast as conventional revenues on average, and companies operating in these markets are typically gaining access to cheaper capital and often enjoy premium valuations on capital markets. ARTICLES Five steps to more inclusive communication (ICAEW) Focus on gender balance is paying off for Irish companies, says B4BB (Irish Examiner) ICYMI Sustainability in Practice: Setting up for Success (ICAEW) EU strikes deal to further weaken corporate sustainability laws (RTÉ) RESOURCES ICAEW has published a primer for finance teams unlock long‑term business value while working with nature. Embedding nature into business: A primer for finance teams links nature‑related information to an organisation’s activities, processes and tools, so allows teams to make nature‑related risks and opportunities visible, manageable and integrated into every decision the organisation makes. It was developed by ICAEW as an output of A‑Track, a four‑year, €11 million project that aims to accelerate transformative action for nature by business, financial institutions and government. Future work by ICAEW in the A‑Track project will build on this foundation, developing additional targeted resources, case studies and training opportunities to support finance and accounting professionals in their daily work. EVENTS 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 2026, 8:00am – 9:00am | 4.00pm – 5.00pm 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 4th 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.

Big changes are coming for Ireland’s infrastructure. This week, the Government published its Accelerating Infrastructure Report and Action Plan – a comprehensive blueprint to tackle delays and bottlenecks that have slowed down critical infrastructure projects for years. The report sets out 30 specific actions designed to speed up delivery and make the system more effective.  It is the outcome of months of work by experts on the Accelerating Infrastructure Taskforce identifying barriers to infrastructure delivery.  Why this report matters Ireland’s Revised National Development Plan commits €102billion in capital investment to 2030. But as we discussed at our recent Chartered roundtable event, investment alone isn’t enough. Projects have been stuck in planning, legal challenges, and layers of regulation. This report aims to change that, with reforms grouped under four pillars: Legal Reform, Regulatory Reform and Simplification, Co-ordination and Delivery Reform, and Public Acceptance along with 30 specific action points. It states that "Joined-up thinking is at the heart of this approach: housing, climate, energy, and competitiveness are interconnected, and this Action Plan ensures that infrastructure delivery supports all of these priorities."  We have reviewed the four pillars and pulled out the key points that you can read below.  Pillar 1: Legal reform   Legal reform is about breaking the judicial gridlock that has stalled vital projects. Judicial reviews have been a major source of delay, often tying up developments for years. The plan introduces reforms to narrow who can bring challenges, require viability checks before cases proceed, and allow emergency powers for critical infrastructure projects. These changes aim to strike a balance between protecting legal rights and ensuring essential projects can move forward without unnecessary obstruction.  Pillar 2: Regulatory reform and simplification  Regulatory Reform and Simplification is the pillar that focuses on reforming planning, licensing, consenting, and regulatory processes for critical infrastructure to make them proportionate, efficient, and balanced. Its goal is to cut unnecessary regulatory burdens, reducing time and costs while fostering innovation in delivery.  In parallel with examining the structures of the regulatory sector, the plan commits to a “major legislative reform exercise”, reviewing the legislative base that applies to the development of critical infrastructure in Ireland.  Critically, several of the actions in this pillar are focused on EU legislation, referencing the principle of proportionality as enshrined in European law and applied through a three-part test involving suitability, necessity, and balance. The government intends “that these principles cascade through the European Directives into the national legislation and associated regulatory frameworks.” This is a positive development, providing the opportunity for Ireland to rationalise and simplify existing legislative structures where necessary.   In addition, an early warning system for EU directives being transposed into Irish law will also be established, to flag any potential knock-on impacts on the delivery of infrastructure, so they can be dealt with early.  If implemented effectively, these measures could significantly reduce timelines and give businesses greater certainty.  Pillar 3: Co-ordination and delivery reform  This pillar focuses on breaking down silos and improving coordination - ensuring problems are solved speedily and responsibilities are clear. The report sets out that a new Joint Utilities and Transport Clearing House will be set up. It will centrally coordinate the state’s utilities to resolve blockages quickly, implement a statutory duty for departments and local authorities to cooperate, and introduce clear accountability measures.  The plan aims to tackle the culture of risk aversion within the public sector, including the civil service and state agencies. It proposes introducing risk appetite statements to give senior decision-makers greater confidence and protection when advancing critical infrastructure projects.  Pillar 4: Public acceptance  Infrastructure delivery is not only a technical challenge – it is a societal one. Public acceptance is fundamental to timely progress, and the report stresses the importance of clear communication, transparent evidence, and early engagement to build trust and reduce resistance. Public acceptance of the need for electrical, water and transport infrastructure development is essential for the building of a sustainable, decarbonised and successful economy.  While there is broad recognition of the need for infrastructure, opposition often emerges when local impacts are perceived, leading to delays, legal challenges, and difficulties in securing land access. To address this, the report outlines four specific actions including a duty on State Bodies to make land available for critical infrastructure, enhanced national communication campaigns to explain the benefits of infrastructure and, the establishment of a Benefits Realisation Framework for infrastructure projects.   What’s next?  The actions are split into 138 sub-actions, and the Institute is pleased to see that the sub-actions are primarily for delivery in 2026 and are particularly weighted towards completion in the first two quarters of 2026. This prioritisation reflects urgency, which is extremely welcome. The actions have set deadlines for implementation, and the report identifies the departments and agencies charged with implementation. The relevant Ministers and secretaries general of the various departments have been made ultimately responsive for ensuring the actions are completed.   The message is clear: change is coming to make infrastructure delivery faster, more predictable, and more accountable – good news for business and Ireland’s growth ambitions.  Want to know more? Linked below are some interesting reads in the media this week on the Accelerating Infrastructure Action Plan. Some items may require a subscription to read in full.  Business Post, 3 December 2025: Everything you need to know about the government’s new infrastructure plan Business Post, 3 December 2025: ‘A starting point, not a conclusion’ - business leaders on the infrastructure plan Business Post, 4 December 2025: 5 ways Ireland can learn from expensive mistake on infrastructure Business Post, 3 December 2025: Stripe and Meta chiefs among 25 to sign letter urging government action on infrastructure Irish Times, 4 December 2025: We can’t keep objecting to wind farms 10km out to sea if we want Ireland to progress Irish Times, 4 December 2025: People who object to infrastructure projects could be offered damages under new plan Irish Times, 4 December 2025: Infrastructure or bust? Nothing more important for Coalition than making this work RTÉ.ie, 3 December 2025: Government plan to speed up delivery of housing and infrastructure