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

With demand for electricity expected to double by 2030, renewable sources will be key to decarbonising Ireland’s energy sector, writes Laragh Musselwhite. The decarbonisation of our electricity system has been one of Ireland's great success stories. Emissions from electricity generation in Ireland fell by 51.4 percent from 2001 to 2020.   This sizeable drop reflects improvements in the energy efficiency of modern gas-fired power plants as well as the increased share of renewables in the electricity system here.  The government has set ambitious targets for the ongoing roll-out of renewable energy generating capacity, including five gigawatts of offshore wind by 2030. Given that demand for electricity is expected to rise by anywhere from 19 to 50 percent over the next decade, meeting these targets will not be without challenge. Electricity in the Climate Action Plan The Climate Action Plan identifies the energy and electricity sector as a key enabler to Ireland meeting our Net Zero goal by 2050. The plan sets out an overall target of reducing carbon dioxide equivalent (CO2eq) emissions in the sector to between two to four mega tonnes of CO2eq by 2030. Our most significant challenge is, however, the rapidly rising demand for electricity across Ireland. In a high-demand scenario, our electricity needs are expected to as much as double by 2030. At the same time, our electricity emissions need to be reduced by 60–80 percent. Renewable energy Renewable energy will be key to decarbonising the sector. In 2020, electricity generated from renewable sources accounted for 42.1 percent of all electricity generated in Ireland — up from 33.3 percent in 2018. Ireland has significant renewable energy resources, with wind energy accounting for 36 percent of the country's electricity in 2020. We currently have an installed wind capacity of 4.2 megawatts, and the Climate Action Plan commits to increasing this to 13 gigawatts of combined onshore and offshore wind by 2030. The generation opportunity Alongside large-scale renewables, microgeneration and small-scale generation have an important role to play in empowering and driving engagement and participation. Both create opportunities for domestic, community, farming, and small commercial customers to take the first steps towards investment in renewable technologies, potentially helping to shape electricity demand and decarbonise homes and businesses. The Climate Action Plan also provides for a Microgeneration Support Scheme (MSS) aimed at supporting the deployment of an anticipated 260megawatts of new micro renewable generation by 2030. A separate small-scale generation scheme will also come into effect to support the deployment of rooftop and ground-mounted solar photovoltaic (PV) modules in cohorts not suited to other support measures. What does this mean for businesses? While the large-scale deployment of renewables will facilitate the decarbonisation of the national energy system, a growing number of individuals are also seeking to decarbonise their own operations. Options here include: investment in energy-efficiency; corporate power purchase agreements for renewable energy; and small-scale renewable asset deployment. As a first step, businesses are advised to calculate, monitor, and report on their Scope 2 emissions. These are the indirect emissions associated with the purchase of electricity, steam, heat, and cooling. By doing this, businesses can help to identify opportunities for reducing these emissions—and it’s worth noting that improving the energy efficiency of both property portfolios and business operations is crucial here. Potential measures for reducing Scope 2 emissions include securing direct renewable energy contracts, upgrading electric systems (e.g. lighting), generating renewable energy on-site, and optimising manufacturing and production facilities. Given the ongoing volatility in energy prices, the business case for reducing these emissions has never been stronger – and, by making considered choices, businesses can also expect to save on operational costs. The decarbonisation of Ireland's electricity system, therefore, presents a potential opportunity for businesses. In addition to the potential cost savings, other benefits could include reduced exposure to energy price volatility, stakeholder alignment, regulatory compliance and improved brand perception. Laragh Musselwhite is an Analyst at KPMG Sustainable Futures.

In this week’s sustainability/ESG bulletin we bring you more news from our Sustainability Conference which takes place on 25 May. We also cover the National Social Enterprise Census, the role of capital markets in tackling food waste, and how one-fifth of new cars in Ireland are now electric, as well as the usual technical updates, resources and upcoming events.    News   |  Technical updates  |  Resources  |   Events The Sustainability Conference Sustainability-related demands on businesses are growing, with SMEs increasingly expected to meet the same ESG targets as larger organisations. Without the resources of larger competitors, SMEs find it is harder to manage sustainability-related risks, such as higher operating costs, reduced access to finance, potential reputational risks, and keeping pace with compliance requirements. But on the flipside, there are opportunities for businesses that start addressing the sustainability challenge, like cost savings, access to capital and finance, and a competitive edge in attracting clients, customers and staff. The 2022 Sustainability Conference is designed to help business take these first steps, in an accessible and manageable way, with the expertise on offer to answer the questions you have. All details including how to register can be found over on our conference page. Data and social enterprise A National Social Enterprise Census designed to gather information about social enterprises in Ireland has been launched. Its aim is to inform policy and the rollout of future supports to the Social Enterprise Sector. Key data to be gathered will include the total number of social enterprises in Ireland, their regional spread, the primary sectors they are active in, their staffing levels and traded income. Commenting at the launch last week, Minister for Rural and Community Development, Heather Humphreys, TD, stated “Historically, the lack of concrete data has impeded efforts regarding the provision of supports for, and raising awareness of, social enterprise. This is an opportunity to establish a reliable evidence base necessary for future policy development and delivery, which will benefit the sector.” Role to play for capital markets in tackling food waste A report published by Goodbody Stockbrokers has reportedly found that Irish homes waste about 55kg of food every year. The report’s author, Goodybody’s Analyst Jason Molins, however, reported that the venture capital market for technology that cuts waste or improves food traceability or kitchen/manufacturing efficiencies has a role to play by backing companies focused on tackling the food waste problem. Deal activity in this market almost doubled in 2021, and it is currently worth $61.9 billion worldwide, with expectations of the market reaching $85 billion (€81.5 billion) by 2026.   One-fifth of new cars in Ireland are now electric Official statistics published by the Central Statistics Office (CSO) have shown that 21 percent of the 10,425 new cars licensed for the first time in Ireland in April 2022 were electric or plug-in hybrid electric vehicles (PHEV). Commenting on the data, CSO Statistician Dr Nele van der Wielen said: “Today’s figures from the CSO show the continued growth in the number of electric and plug-in hybrid vehicles licensed in Ireland. The number of new electric cars licensed has more than doubled from 3,026 in the first four months of 2021 to 6,748 in 2022. At the same time the number of new diesel cars is decreasing.” The Irish Government aims to have over 194,000 electric cars and vans on the roads by the middle of this decade and plans to invest over €100 million in a charging infrastructure to support these vehicles. Sustainability awards for business Finalists for all 10 categories of Business in the Community’s 2022 Responsible Business Awards in Northern Ireland have been announced. These annual Awards – organised by the business network 'Business in the Community' – recognise, reward and celebrate inspirational and impactful businesses in Northern Ireland that are taking practical action to address pressing social and environmental issues. The shortlist has also been announced for the first PwC/Business Post Sustainable Business Awards which recognise the best performing Irish businesses across a range of ESG categories and promote sustainable practice, innovation and leadership. Technical updates From our colleagues in Professional Accountancy The European Financial Reporting Advisory Group (EFRAG) is holding a series of educational sessions jointly for the EFRAG Sustainability Reporting Board (SRB) and the EFRAG Sustainability Reporting TEG (SR TEG) on the draft ESRS Exposure Drafts (EDs) issued for public consultation on 29 April. Recordings of previous sessions and registration for upcoming sessions are available on EFRAG’s website. In its recent announcement, the International Sustainability Standards Board have outlined the necessary steps required to establish a comprehensive global baseline of sustainability disclosures. Resources Explore the rich variety of life in Ireland this May, as National Biodiversity Week runs from 13-22 May. Free events will be held every day, focusing on connecting people with nature, communicating the importance of biodiversity and motivating people to play their part in protecting it. Events Chartered Accountants Ireland Sustainability Conference: The Chartered Accountants Ireland’s 2022 Sustainability Conference takes place in under two week’s time on 25 May 09:30-1.30, Zoom. Book 7 days in advance of this event to be guaranteed the discount rate. The ESG Summit 2022, which takes place on 31 May in Croke Park for business leaders, policy-makers and investors, will explore how ESG matters translate into meaningful business decision-making and what it will take for responsible and resilient businesses to succeed in the long run. The Reuters Responsible Business Europe 2022 conference will take place between 8–9 June at the Hilton London Tower Bridge, UK. The title of the event is “Delivering the just transition and sustaining commercial success with 80+ CEO and executive speakers. The ICC Belfast Sustainability Summit 2022 will take place on 9 June from 09:00 – 17:00. Industry experts will share insights on achieving net-zero carbon, sustainable tourism, waste and resource management, diversity and inclusion and more. Join this ICAEW webinar on 22 June for a deep dive into the International Sustainability Standards Board (ISSB) proposed standards on general sustainability-related disclosures and climate-related disclosures. Mardi McBrien, Managing Director, and Ravi Abeywardana, Technical Director of the IFRS Foundation will answer questions on the exposure drafts.

In this week’s Public Policy Bulletin, read about Ireland’s latest Residential Property Price Index findings, Ireland's goals in relation to connectivity and a public consultation on the Retail Banking Review Dialogue. We also cover a report on cyber readiness among businesses in Ireland. Lastly, we bring you news from Northern Ireland including increases in unfair dismissal and redundancy payment limits, the most recent Labour Market Report and the announcement of more assured skills academy places.   CSO releases latest Residential Property Price Index Residential property prices in Ireland increased by 15.2 percent nationally in the twelve months to March 2022, according to recently released figures from the CSO. The results from the recent Residential Property Price Index (RPPI) show that the national index is still lower than the 2007 peak, with Dublin residential prices still 10.1 percent lower than their February 2007 highs. Property prices in the rest of Ireland are 3.3 percent lower than their May 2007 peak. RPPI is based on Revenue stamp duty returns, which have a 44 day submission deadline. Read the press release here. World Telecommunications Day To mark World Telecommunications Day, Minister of State with responsibility for Communications at the Department of the Environment, Climate and Communications, Ossian Smyth TD, spoke about Ireland’s goals in relation to connectivity: “Our target is to complete the delivery of digital connectivity to all Connected Hubs and all schools by 2023; for all Irish households and businesses to be covered by a Gigabit network no later than 2028; and for all populated areas to be covered by 5G by no later than 2030.” A report produced by EY for the Department of the Environment, Climate and Communications was also released this week. This report found that broadband is a vital part of economic and social development and deems it as essential to our daily lives. It stresses that State-led intervention is crucial and a failure to make this investment would have negative economic and social impacts, due to a growing digital divide. Public consultation announced at Retail Banking Review Dialogue This week, The Minister for Finance, Paschal Donohoe TD and the Minister of State for Financial Services, Credit Unions and Insurance, Seán Fleming TD launched a public consultation at the Retail Banking Review Dialogue, which will be open until 8 July 2022. The Department also published the results from a detailed consumer survey, with a sample of over 1,500 people, which found that 97 percent of the sample hold their main current account with a traditional retail bank and only 1 percent opt for a digital bank. Branch visits are still important for 23 percent of the respondents, with 70 percent using digital channels as their main form of contact. One in five of the respondents expressed a preference for cash as a payment method. Switching rates over the last five years for all financial products are between 2 and 5 percent. Read the press release here. Cyber Readiness Report released A survey of over 5,000 professionals responsible for their company’s cyber security strategy across eight countries found that businesses increasingly view the cyber challenge as a dominant risk. The global survey conducted by Hiscox found that 48 percent of respondents had faced at least one cyber attack, with the median cost being estimated at almost $17,000. More than 200 professionals from Ireland were surveyed for the Cyber Readiness Report, finding that 34 percent of businesses here purchased or enhanced cyber insurance following an attack, with effective cyber security training and awareness for employees identified as the top spending priority for businesses here. The survey found that 49 percent of respondents experienced a cyber attack in 2022, but only 19 percent reported a ransomware attack. Irish businesses paid out ransoms more regularly than the rest, with 25 percent paying five times or more to recover data, but ransom costs were among the lowest. Unfair dismissal and redundancy payment limits increased in Northern Ireland Northern Ireland’s Economy Minister Gordon Lyons announced an increase in the limits for payments and awards in employment rights cases. From 6 April 2022, the limit on the compensatory award for unfair dismissal rises from £89,669 to £94,063. Also, the maximum amount of ‘a week’s pay’ for the purpose of calculating redundancy payments rises from £566 to £594. Latest Northern Ireland Labour Market Report published This week, Northern Ireland Statistics and Research Agency (NISRA) published its most recent Labour Market Report. The number of employees receiving pay through HMRC PAYE in NI in April 2022 was the highest on record, reaching 774,600. An increase of 4.5 percent in the number of payrolled employees in the twelve months to April 2022 was reported. April 2022 is the eleventh consecutive month where payrolled employees are higher than the numbers seen pre-pandemic. The claimant count reduced again in April 2022 to 36,500 people, representing 3.9 percent of the workforce. This is still 23 percent higher than the figures seen pre-pandemic. Sixth PwC Professional Services Assured Skills Academy announced This week, Northern Ireland’s Economy Minister Gordon Lyons announced the sixth Assured Skills Academy with PwC, offering twenty individuals the opportunity to start their career in professional services. The chosen participants will receive eight weeks industry-relevant pre-employment training delivered by Belfast Met, covering areas including: project management, business analysis, commercial awareness, financial accounting, Microsoft and Google tools, data visualisation and design thinking. A training allowance of £155 a week will be paid to participants.  

In this week’s sustainability/ESG bulletin we bring you more news from our Sustainability Conference which takes place on 25 May. We also cover Ireland’s Department of Transport public consultation on a new electric vehicle charging infrastructure strategy, energy planning in the event of an energy emergency, the first meeting of the UK’s Green Job Delivery Group and a report showing greater participation of women at senior management level in Ireland, as well as the usual technical updates, resources and upcoming events.    News   |  Technical updates  |  Resources  |   Events The Sustainability Conference The conference programme for the 2022 Chartered Accountants Ireland – Moving Beyond the Pledges – has been confirmed, and all details can be found over on our conference page. Chapter Zero Ireland launches  A new initiative launches today (Friday 25 May) that aims to drive crucial climate action decisions in boardrooms. Chapter Zero Ireland - part of a global network of non-executive directors - aims to help members ensure their organisations are fit for the future, and that global net zero ambitions are transformed into robust plans and measurable action. Chartered Accountants Ireland is a founding body of Chapter Zero Ireland and Institute's Chief Executive, and Board member of Chapter Zero Ireland, Barry Demspey stated “I am delighted to have joined the board of such an important body and look forward to working with Chapter Zero Ireland in promoting the importance of this initiative”. Chartered Accountants Ireland encourages non-executive directors, trustees or equivalents, to sign up to Chapter Zero Ireland. Public Consultation on EV charging infrastructure The Department of Transport has launched a public consultation on a new strategy for the development of electric vehicles (EVs) infrastructure in Ireland to 2025. The Government aims to have over 194,000 electric cars and vans on the roads by the middle of this decade. It plans to invest over €100 million in a charging infrastructure to support these vehicles. The aim of the infrastructure strategy (Electric Vehicle Charging Infrastructure Strategy 2022-2025) is to deliver a public EV charging network to ensure that access to chargers stays ahead of rapidly rising demand. This is part of the Government’s commitment to a Just Transition to a decarbonised transport system for Ireland. Stakeholders, interested parties and the public are encouraged to give opinions and ideas on the delivery of electric vehicle (EV) charge point infrastructure, as well as preferred locations of chargers and speeds of charging. Speaking at the launch, Minister for Environment, Climate and Communications, and Minister for Transport Eamon Ryan TD, commented: “Even if you do not yet own an EV, you may well do so in the future. This consultation is aimed at drivers of petrol and diesel vehicles just as much as at those who already have EVs. Our country’s charging infrastructure is taking shape now and there will be an acceleration of development in the next three years. The government is listening and wants to hear from you, so take just a few minutes to make your voice heard.” The consultation is very quick and easy to complete and takes between 5-10 minutes. The closing date is Tuesday 31 May at 5pm. €53.7 million research grants announced for projects on health and climate €53.7 million in grants was announced this week to support frontiers research across 10 higher education institutions, through Science Foundation Ireland (SFI)’s Future Frontiers Programme. The grants will support research in areas such as future coastal sea levels, new-generation batteries, and futureproofing crops to withstand flooding. The funding announcement was made the day after the World Meteorological Organization (WMO) issued a new climate update which predicted a 50:50 chance of the annual average global temperature temporarily reaching 1.5°C above the pre-industrial level for at least one of the next five years. 1.5°C is “an indicator of the point at which climate impacts will become increasingly harmful for people and indeed the entire planet,” stated WMO Secretary-General Professor Petteri Taalas. The WMO update went on to state that the likelihood is increasing with time, and it also predicts a 93 percent likelihood of at least one year between 2022-2026 becoming the warmest on record. Imported generators and rationing part of planning by Energy Security Emergency Group Ireland may spend more than €300 million a year on emergency gas generators from winter 2023 as well as doubling the importation of emergency power generators, it was reported this week. This is in order to prevent blackouts as the gap between electricity supply and demand continues to accelerate past planned supply. The energy crisis due to Russia’s invasion of Ukraine, coupled with increased energy use in Ireland, have led to the Government’s newly-established Energy Security Emergency Group (ESEG) drawing up plans for the event of a cessation of supply of oil or gas by Russia. These plans include plans for the rationing of gas, electricity and liquid fuel, and the prioritisation of certain customers for other energy to include homes, hospitals, prisons and key utilities infrastructure. New report reveals greater participation of women at senior management 52 companies have signed up to Elevate, the Inclusive Workplace Pledge launched in May 2021 by Business in the Community Ireland, the movement for sustainable change in business. Elevate was set up to support businesses building more inclusive workplaces. Its inaugural report, The Elevate Pledge 2022 Annual Report - Measuring Diversity to Drive Real Change published this week and found that women make up 38 percent of staff in senior management and executive roles in 50 of the 52 companies which signed the pledge. These companies collectively employ more than 120,000 people. ‘Every job has the potential to be green’ – UK’s Green Job Delivery Group meets for the first time UK Energy Minister Greg Hands this week co-chaired the first meeting of the UK’s Green Jobs Delivery Group. The group comprises 20 representatives from the worlds of business, industry, trade unions and academia and is the country’s first-ever dedicated group for creating UK green job opportunities. UK government policies set out in the Prime Minister’s Energy Security Strategy and Net Zero Strategy will require a significant reskilling of the workforce to support the UK’s ‘Green Industrial Revolution’ for growing the economy. The Green Jobs Delivery Group aims to support the delivery of up to 480,000 skilled green jobs by 2030 to help ensure the UK has the skilled workforce it needs to transition to clean industries and cheaper sources of renewable energy. It will also ensure that workers, businesses and local areas are supported throughout the transition in eliminating the UK’s contribution to climate change by 2050. The government already has a number of initiatives to support green jobs; nearly 68,000 green jobs across the UK economy have already been created and supported or are in the pipeline since the Prime Minister’s Ten Point Plan for a Green Industrial Revolution was published in November 2020. The Delivery Group will now look at ways of ensuring all sectors of the economy can benefit from the green transition, following a recommendation by the Green Jobs Taskforce, which concluded that every job has the potential to be green. Technical updates From our colleagues in Professional Accountancy The International Public Sector Accounting Standards Board ®  (IPSASB) has issued a consultation paper 'Advancing Public Sector Sustainability Reporting'. The aim of the public consultation process is to evaluate the demand from stakeholders for global public sector specific sustainability reporting guidance, as well as the degree of support for IPSASB developing such guidance, the priority areas for coverage, and how this might be approached. Comments are requested by September 9, 2022. Resources Using ESG transformation to respond to stakeholder needs This article by PwC’s ESG Leader for Assurance and Reporting at PwC Ireland, Fiona Gaskin explains why environmental, social and governance metrics are crucial when formulating your business strategy and looking to the future, and what organisations can do to meaningfully embed ESG into their business. Fiona Gaskin will also join a panel discussing the future of sustainability and accounting at the Chartered Accountants Ireland Sustainability Conference on 25 May.   Climate Disclosure Convergence: TCFD, SEC, and ISSB In light of publications by the SEC and ISSB on climate-related disclosure that incorporate the TCFD recommendations, the TCFD have hosted a one-hour webinar in conjunction with representatives from the SEC and ISSB. The webinar consists of a 10-15 minute overview from each speaker, followed by a moderated Q&A session.   Check out this infographic showing the rise of electricity from these wind and solar over the last decade. It is based on data from independent energy think Ember, and show that wind and solar generate over a tenth of the world’s electricity. Taken together, they are the fourth-largest source of electricity, behind coal, gas, and hydro.   Listen back to Newstalk’s Lunchtime with Andrea Gilligan, which has started a ‘Going Green’ series with tips for how to live more sustainably. This week it focused on commutes. Geraldine Herbert, Motoring Journalist joined host Andrea Gilligan for an 18-minute talk about a range of alternative transport options. (You can also find our 30-minute interview with Geraldine Herbert and SEAI’s Emer Rooney as part of the Ask the Expert interviews on electric vehicles.)   Read this article in the Irish Times on how socio-economic background is rarely considered in corporate diversity efforts, and warning that policies must avoid the risk of primarily benefiting those who are already relatively privileged.   Events Chartered Accountants Ireland Sustainability Conference: The Chartered Accountants Ireland’s 2022 Sustainability Conference takes place in under two week’s time on 25 May 2022 09:30-1.30, Zoom. Book 7 days in advance of this event to be guaranteed the discount rate.   How your SME can save Energy and Money: Join SEAI on May 17th @ 2pm – 3pm to learn how your business can save energy and money. Find out more here.   CDP Climate Change disclosure 2022: If your company wishes to understand more about the process of disclosing your company’s environmental performance, or id simply keen to understand what is the latest best practice in Climate Reporting, the CDP Ireland Network is running a 90-minute free CDP Ireland Responder Training 2022 workshop on Wednesday, 18th May @ 2.30pm-4pm.   The ESG Summit 2022, 31 May @ Croke Park for business leaders, policy-makers and investors, will explore how ESG matters translate into meaningful business decision-making and what it will take for responsible and resilient businesses to succeed in the long run.   The Reuters Responsible Business Europe 2022 conference will take place between 8–9 June, 2022 at the Hilton London Tower Bridge, UK. The title of the event is “Delivering the just transition and sustaining commercial success with 80+ CEO and executive speakers.   The ICC Belfast Sustainability Summit 2022 will take place on 9 June from 09:00 – 17:00. Industry experts will share insights on achieving net-zero carbon, sustainable tourism, waste and resource management, diversity and inclusion and more.

In this week’s Public Policy Bulletin, read about the latest live register figures, measures to impact inflation and Ireland’s first Artificial Intelligence Ambassador. We also cover the recent hints of a European Central Bank rate hike. Lastly, in a quiet week in Northern Ireland on the policy front following the NI Assembly elections, we bring you a roundup of the latest news from the rest of the UK.  Latest Live Register Figures released  Social Protection Minister Heather Humphreys welcomed the April 2022 live register figures this week, reporting a drop in the seasonally adjusted unemployment rate to 4.8 percent. The number for April 2022 was reported at 177,004, reflecting a drop of 1,992 on the March 2022 figure. This is also 965 less than the April 2021 figure, when there were a further 385,211 people in receipt of the Pandemic Unemployment Payment.  More measures to address inflation impact announced   This week, Minister for Public Expenditure and Reform, Michael McGrath announced measures to address the impact of Construction Material Price Inflation on Public Works Projects. An “Inflation Co-operation Framework” is being introduced for parties engaged under a public works contract. The Framework will help mitigate the risks of significant losses for contractors and is in the interest of safeguarding public projects already under construction.   The Framework outlines the approach and parameters within which public works contract parties can calculate the additional costs attributable to material and fuel price fluctuations, using the Central Statistics Office’s price indices. These additional inflationary costs will be apportioned between the parties, with the State bearing up to 70 percent of the additional inflationary related costs on payments made from 1 January 2022.  See the full press release here.   Appointment of Ireland’s first Artificial Intelligence Ambassador  This week the Minister for Trade Promotion, Company Regulation and Digital, Robert Troy TD appointed Dr Patricia Scanlon as Ireland’s first Artificial Intelligence (AI) Ambassador.   Dr Scanlon will work with the Department of Enterprise, Trade and Employment on a schedule of engagements in her new role as she leads a national conversation on the role of AI in our lives. Dr Scanlon’s AI developer background, using AI to help children to learn, will help with a key part of her new role, to engage with young people in relation to AI.  The Government is committed to an ethical approach to the use of the technology and in particular its adoption by businesses. At the appointment, Minister Troy said “We cannot stem progress, but we can embrace it. AI can bring great benefits to our society in areas such as healthcare, climate action and education. It is important that we look at all aspects of the technology so we have a full and informed understanding of how it will impact of lives from now and into the future.”     European Central Bank rate rises expected  This week, European Central Bank President Christine Lagarde made remarks during a speech in Ljubljana, Slovenia, signalling the first interest-rate increase in over a decade may be coming this summer.  Lagarde stated “The first rate hike, informed by the ECB’s forward guidance on the interest rates, will take place some time after the end of net asset purchases. We have not yet precisely defined the notion of “some time”, but I have been very clear that this could mean a period of only a few weeks. After the first rate hike, the normalisation process will be gradual.”   Read the full press release here.  UK news in brief:  High energy use businesses in the UK are set to get additional government support. Read more.   HSBC is the latest lender to be added to the UK’s SME Finance Charter. This brings to five, the number pledges from UK banks and finance providers to support their SME customers.   Businesses in the UK can now sign up to offer work to people who have come to the UK from Ukraine.     Attendees at the Cyber UK conference which took place in Wales this week heard about the threats and opportunities that cyber presents. Read opening comments.