In this week’s Sustainability/ESG Bulletin read about the Hamburg Declaration to bolster energy security across Europe, Northern Ireland’s first annual progress report on its Environmental Improvement Plan and a report arguing that natural capital should be formally recognized as Critical National Infrastructure (CNI) in the UK. Also covered is how renewables generated more power than fossil fuels in Europe in 2025, how corporate climate action momentum remains high globally, the ECB’s research into climate and nature risks, an OECD analysis of climate change mitigation policies, the new IPSAS standard for governments to account for tangible natural resources, and the latest articles, resources and upcoming events. IRELAND The Hamburg Declaration Ireland has signed a historic clean energy security pact – the ‘Hamburg Declaration of Energy Ministers’ – that aims to bolster energy security across Europe and the UK in an era of global instability. The deal – agreed at the Future of the North Seas Summit – sets out a commitment to a more regional approach to cross-border infrastructure planning, closer cooperation on the protection of offshore energy infrastructure, and the development of an Offshore Financing Framework to strengthen the business case for offshore wind in the North Seas. In the second half of this year, Ireland's EU Presidency will emphasise the need for accelerated deployment of renewable energy, particularly wind, solar and emerging offshore technologies, to deliver clean and affordable power for citizens and businesses. Increased renewable availability reduces exposure to volatile fossil fuel markets and strengthens Europe’s strategic autonomy. Parliamentary Budget Office publishes paper on Global Carbon Taxes 2025 The Parliamentary Budget Office (PBO) has published a new paper Global Carbon Taxes in 2025. Carbon pricing - through carbon taxes or emissions trading schemes (ETS) - is widely recognised as an effective tool for reducing emissions. The paper explains these two pricing mechanisms, outlines key design differences, and examines how they interact. The supporting note, Identifying Greenhouse Gas Emissions, aims to help readers understand emissions measurement methodologies and the challenges they present for carbon pricing policy. Calls for clear, consistent, and practical sustainable finance rules The Banking and Payments Federation Ireland (BPFI) is calling for clear, consistent, and practical sustainable finance rules to enable banks to channel capital effectively and efficiently into green investments without excessive burdens or ambiguities; this, it says, requires greater harmonisation of sustainability rules across the various pieces of EU legislation. Other recommendations it makes for Ireland’s EU Presidency 2026 are in the areas of retail participation in capital markets while safeguarding investor protection, creating a more proportionate & simplified regulatory framework, creating a fair, open and innovative digital infrastructure and ensuring the effective delivery of housing. €500m climate transition equity fund launched Aon plc, a global professional services firm, has announced the launch of a new climate transition fund in Ireland, with Irish-based, global asset management company Irish Life Investment Managers Limited (‘ILIM’). The €500m Climate Transition Equity Fund aims to enable investors in Ireland to support the transition to a low-carbon economy. The fund will tilt towards companies that are working to achieve the UN Sustainable Development Goals relating to climate action, resource scarcity, healthy ecosystems and basic social needs. NORTHERN IRELAND/UK Northern Ireland’s first annual progress report on Environmental Improvement Plan The Department of Agriculture, Environment and Rural Affairs (DAERA) has published Northern Ireland’s first Annual Progress Report on the Environmental Improvement Plan. The report provides the first assessment of what has been achieved by the Department and across government since Northern Ireland’s first Environmental Improvement Plan (EIP) was launched in September 2024. The report demonstrates progress across all six SEOs, while acknowledging the scale of the challenge and the need for accelerated action to meet a number of commitments, including a continued reduction in greenhouse gas emissions, with 2023 emissions falling by 7.1% compared with 2022, bringing overall emissions to 31.5% below 1990 levels. Global ecosystem degradation and collapse threaten UK national security and prosperity A policy paper from the Institute for Sustainability and Environmental Professionals (ISEP) has called for the protection, enhancement, and restoration of natural capital to be placed at the heart of the UK’s economic growth and national resilience strategy. The report, Natural Capital is Critical Infrastructure highlights that the UK’s economic success is fundamentally dependent on natural capital - the stocks of nature such as forests, rivers, biodiversity, land, and minerals - which provide essential ecosystem services vital for human well-being and economic stability, and argues that natural capital should be formally recognized as Critical National Infrastructure (CNI). More recently, the UK government’s Department for Environment, Food & Rural Affairs published an assessment of how global biodiversity loss and ecosystem collapse could affect UK national security. With high analytical certainty, it states that global ecosystem degradation and collapse threaten UK national security and prosperity, with cascading risks likely to include geopolitical instability, economic insecurity, conflict, migration and increased inter-state competition for resources.  The assessment, which aims to support long-term resilience planning, highlights opportunities for innovation, green finance and global partnerships that can drive growth while safeguarding the ecosystems that underpin our collective security and prosperity. EUROPE Report identifies ‘new milestone’ for EU’s electricity transition European Electricity Review 2026, the report from the independent, UK-based non-profit energy think tank Ember, has found that the EU’s electricity transition reached a new milestone in 2025 with wind and solar generating more power than fossil fuels. Renewables provided nearly half of EU power, gas generation rose by 8 percent compared to 2024, which pushed the EU power sector’s gas import bill up to €32 billion, and coal power fell to a new historic low of 9.2 percent. Battery deployment accelerated significantly in 2025, with grid-scale projects announced across the EU. The report called for member states and governing institutions to prioritise implementing rules for clean flexibility, boosting electrification through clear policy signals and support, and improving energy security. Overheated and underprepared: Europeans' experience of living with climate change A new joint report by the European Environment Agency (EEA) and Eurofound on implemented climate resilience measures – both at the household and local authority level has found that while most Europeans have already been directly affected by extreme weather and are highly concerned about future climate impacts, yet their preparedness remains limited. The report, which draws on data collected from over 27,000 respondents across EU-27 countries, will be launched on 4 February at a webinar: 'Overheated and underprepared: Europeans' experience of living with climate change'. Accountancy Europe Sustainability Update Accountancy Europe has published its January Sustainability Update with the following highlights: Commission announces members for the Platform on Sustainable Finance EU Deforestation Regulation postponed by one year ESMA outlines principles to follow to address greenwashing risks EFRAG shares first insights into VSME market acceptance (Also, see this Op-ed by Iryna de Smedt, Policy Manager Accountancy Europe: Omnibus won’t stop the climate clock: only sustainable businesses will compete tomorrow) WORLD CDP and SBTi 2025 figures show corporate climate action momentum building CDP – the environmental disclosure platform – has revealed its 2025 ‘A List’, the top performers among the companies disclosing sustainability information on the platform in 2025. Over 800 companies achieved the recognition this year, following a 70 percent year-on-year rise in companies achieving it across climate, forests and water security. According to the CDP’s press release, “the sustained global demand for high-quality environmental data from companies, cities, states and regions”, with markets continuing to signal the critical importance of reliable environmental information. 640 investors with US$127 trillion in assets called on companies to disclose through CDP while over 270 major buyers requested environmental data from approximately 45,000 suppliers via CDP’s Supply Chain program. Separately, the number of companies with science-based targets validated by the Science-Based Targets initiative (SBTi) globally has reached 10,000 worldwide, reflecting the growing scale of corporate climate action across sectors and regions. Headquartered across all continents and in more than 90 countries, the 10,000 companies represent more than 40 percent of global market capitalization and include many of the world’s leading businesses, spanning nearly every major sector, region, and company size. To be validated by SBTi Services—the SBTi’s validation arm—a company must set targets using the criteria laid out in the SBTi’s standards, tools, and guidance. Validation by SBTi Services confirms that a company’s targets are ambitious and aligned with SBTi-approved pathways to achieve net zero by 2050. ECB findings on higher borrowing costs for banks with higher exposure to transition risks and climate and nature plan 2024-2025 The European Central Bank (ECB) has published a paper which finds that banks with higher exposure to transition risk face significantly higher borrowing costs. The paper, Climate change, bank liquidity and systemic risk, examined the relevance of banks’ exposure to climate transition risk in the interbank lending market and identified this “transition premium” as “a combination of a risk premium, compensating lenders for increased credit risk, and an inconvenience premium”, reflecting the sustainability preferences of key dealer banks. It also found that the transition risk premium intensifies during periods of financial stress, indicating that climate-induced risks amplify existing vulnerabilities in financial markets. UN High Seas Treaty and AI for seafood supply chain companies Companies in seafood supply chains must now integrate treaty compliance and AI-enhanced traceability into sourcing strategies, after the United Nations High Seas Treaty became legally binding January 17. This landmark treaty aims to – among other things – strengthen the transparency and enforcement of marine biodiversity governance. The effectiveness of the measures will depend on the implementation of the Treaty, as enforcement gaps and inequalities in technology access could limit environmental outcomes. Analysing the international spillovers of climate change mitigation policies A new paper from the Organisation for Economic Co-operation and Development (OECD) has analysed ‘international spillovers’ from domestic climate mitigation policies - specifically economic, technology, and policy spillovers - and their impacts on global emissions and economic outcomes. These effects can be positive - such as accelerating low-carbon technology diffusion or the implementation of mitigation policy adoption abroad - or negative - such as shifting emissions across countries, i.e., carbon leakage, and fragmenting international markets. Advancing a shared understanding of international spillovers is essential to the Inclusive Forum on Carbon Mitigation Approaches (IFCMA)’s objective of enhancing the global effectiveness of mitigation efforts. To this end, the report provides a typology of spillover effects and transmission channels, reviews tools available to analyse them, synthesises the existing evidence, and explores policy design and responses to manage spillovers. This framework forms the analytical foundation for the upcoming IFCMA work to deepen the evidence base and support more co-ordinated international climate action. New IPSAS Standard Helps Governments Account for Tangible Natural Resources Held for Conservation The International Public Sector Accounting Standards Board (IPSASB) has issued a new standard to address the need for guidance on tangible natural resources held for conservation. IPSAS 51, Tangible Natural Resources Held for Conservation introduces new, public sector-specific accounting guidance on accounting for natural resources with physical substance, such as land, trees, and water, often held by governments to preserve or protect them. IPSAS 51 also highlights guidance in other standards that applies to natural resources that are held for other purposes. IN CASE YOU MISSED IT… Davos 2026: Special address by Mark Carney, Prime Minister of Canada (World Economic Forum) (Video: 33mins) TECHNICAL ROUNDUP (From our colleagues in Professional Accounting on 23 January) The European Securities and Markets Authority (ESMA) has published a second thematic note on sustainability-related claims focusing on ESG strategies. This publication offers practical guidance for making sustainability claims ensuring clear, fair and not misleading sustainability-related claims are made by market participants and also addressing greenwashing risks in support of sustainable investments.   The European Central Bank (ECB) announced that it has advanced its climate and nature work based on the 2024-2025 plan embedding climate and nature-related risks into its core work.  RESOURCES Recording & slides - webinar on latest Environmental, Social & Governance (ESG) landscape On 14 January 2026, the Ulster Society hosted a webinar on the latest Environmental, Social & Governance (ESG) landscape, and the challenges and opportunities this brings for chartered accountants in business. Speakers from NIE Networks Ltd, Encirc, Graham Group and Firmus Energy discussed 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. A recording of this webinar is available to view, for free and on demand, HERE Global natural capital accounting standard: Why it matters for finance professionals In this article from ICEAW find out about ISO 14054, the first global standard for natural capital accounting, which recognises the role that nature plays in sustaining business value. Digital and emerging technologies and human rights This new content from the United Nations Global Compact explains how digital and emerging technologies create both opportunities and significant human rights risks. It provides definitions, examples, and human‑rights considerations relevant for companies. Science-based targets e-learning collection The United Nations Global Compact is offering five new and enhanced e-learning modules developed by the Science Based Targets initiative (SBTi)—guiding companies through every step of target setting and preparing for validation. Each course features interactive content, real-world examples and knowledge checks to help companies build credible decarbonization strategies in their journey to science-based targets. Guide: Procurement: A Catalyst for Sustainable Growth and Resilience With 40 practical tools and frameworks, plus global case studies and company insights, this publication from the United Nations Global Compact equips organizations to embed sustainability across the procurement lifecycle. It highlights how collaboration between buyers and suppliers, including SMEs, is central to success, and it explores the shifting landscape of regulatory demands, business risks, and market opportunities, positioning procurement as a strategic lever for advancing ESG priorities and sustainable growth. ARTICLES Small businesses’ big impact on sustainability reporting (Accountancy Ireland) Preparing for the new rules in pay transparency (Accountancy Ireland) Climate action plan delayed for second year despite emissions cuts falling behind target (Irish Times) New Research Warns Physical Climate Risk Can Drive Default (David Carlin’s Digest: Your Guide to a Changing World) Financial institutions are underestimating climate risks, actuaries warn (Sustainable Views FT – subscription needed) Smart boards incorporate climate and nature into their core strategy(Sustainable Views FT – subscription needed) Modern slavery is increasing, so too are its regulatory and reputational risks (Sustainable Views FT – subscription needed) How AI is helping to bring nature into the boardroom (Reuters) How will the new duty on electric cars work? (ICAEW Insights)   EVENTS UN Global Compact Network UK Webinar Series, The Business Role in Systems Change, Feb/Mar 2026 Businesses are facing escalating risks as the world approaches critical tipping points. Corporate resilience now depends on the transformation of markets, supply chains, and business models needed to steer the system towards stability. There is also potential for positive tipping points - moments when small, well-directed actions accelerate large-scale transitions towards sustainability. Businesses hold a unique capacity to create and amplify these dynamics of change. In these webinars, leading scholars and experts will discuss tipping points, climate risk, and systems change, how to respond to emerging climate realities and apply breakthrough frameworks such as the Positive Tipping Points Toolkit and Doughnut Economics to unlock change at multiple scales.   Webinar sessions: Understanding Tipping Points Risks, Feb 26  | 14:00 Systems Thinking in Business and Climate, Mar 5  | 14:00 Triggering Positive Tipping Points, Mar 12 | 14:00 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, Wednesday 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, 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, 4 - 5pm CET Reuters Events, Practical Implications of the Omnibus A webinar hosted by Reuters Events in partnership with Professor Andreas Rasche, Associate Dean, Copenhagen Business School. The session will explore the practical implications of the EU Omnibus package and what these changes mean for organisations preparing their 2026 sustainability reporting strategy. Virtual | Thursday, 19 February 2026 | 10:00 am–11:00 am GMT / 11:00 am–12:00 pm CET Shift, EU Omnibus Webinar - Briefing for business on the revised CSDDD and performing due diligence This webinar will feature insights from the Shift team and leading businesses on practical, real‑world approaches to implementing due diligence aligned with good practice. The session will explore how due diligence requirements under the CSDDD and reporting obligations under the CSRD can be addressed in an integrated way, rather than treated as separate exercises. Companies in scope of the CSDDD or operating within their value chains are encouraged to attend. Virtual, Thursday, 26 February 2026 | 09:00 Shift, EU Omnibus Webinar - Briefing for business on the revised CSRD and reporting on sustainability issues The session will examine what recent changes to the CSRD and the ESRS mean in practice for how companies report on sustainability issues.  The webinar will feature insights from the Shift team, alongside leading businesses, on implementation approaches that reflect good practice, support companies in identifying and addressing key risks, and remain practical and workable in real-world contexts. The discussion will also explore how reporting obligations under the CSRD and due diligence requirements under the CSDDD should be considered together, rather than in isolation.  If your company is in scope of the CSRD, or part of the value chain of a company that is, we encourage you to join us. Virtual, 3 March 2026 | 15:00 Pentland Centre for Sustainability in Business - Lancaster University, What Does ‘Good’ Look Like in Corporate Reporting? The final session in the Pentland Centre’s free webinar series for SMEs explores what effective reporting on nature and biodiversity looks like. Drawing on global examples, this webinar highlights best practices and practical approaches for integrating nature and biodiversity into corporate reporting. Virtual, Thursday 12 March 2026, 8:00am – 9:00am | 4.00pm – 5.00pm   Sustainability Centre You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.

  In this week’s Sustainability/ESG Bulletin 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

  In this week’s Sustainability/ESG Bulletin, read about the reduction in Ireland’s GHG emissions, along with warnings from the Irish Fiscal Advisory Council that now is the time to prepare to address climate change. Also covered is the UK’s public consultation on new Electric Vehicle Excise Duty, Northern Ireland’s renewable electricity use, a report showing how climate reporting strengthens public bodies’ risk management, and the UK FCA proposals to ensure transparency, reliability and comparability of ESG ratings, as well as the latest articles, resources, jobs and upcoming events.   IRELAND Accelerating Infrastructure Report and Action Plan publishes The Government has this week published its Accelerating Infrastructure Report and Action Plan to address delays and bottlenecks that have slowed down critical infrastructure projects in recent years. The outcome of months of work by experts on the Accelerating Infrastructure Taskforce, the report sets out 30 specific actions designed to speed up delivery of critical infrastructure projects and make the system overall more efficient. Emphasising the importance of ‘joined-up’ thinking, the report stresses the interconnectedness of housing, climate, energy, and competitiveness with infrastructure delivery as the key to addressing the current shortcomings in all of these areas. Decarbonisation is identified as key to delivering the Government’s strategic priorities: “A resilient, decarbonised and internationally competitive electricity system is essential for the delivery of the Government’s key strategic priorities, including housing development, economic competitiveness, investment, growth and climate action.” Find further reaction to the report by the Chartered Accountants Ireland team here. Ireland’s greenhouse gas emissions down 2.0 percent from 2023 Ireland’s greenhouse gas emissions in 2024 were down 2.0 percent from 2023 and 5.4 percent from the 1990-1994 average figure. This is according to figures released from the Central Statistics Office (CSO) this week, in a statistical release titled Environmental Indicators Ireland 2025 - Global Context and Climate. The release also shows that Ireland had the second highest emissions of greenhouse gases per capita (behind Luxembourg) in the EU-27 in 2023, and that the average annual temperature in Ireland was 10.45o Celsius in 2024, the third warmest year since data became available in 1961. Environmental Indicators Ireland was first published in 2012. This release is the first of two for 2025, and covers Global Context, Greenhouse Gases and Climate Change, Water and Land Use. The second release, which will publish in the coming months, will look at the thematic areas of the Environmental Economy, Air, Energy, Transport, Waste and Biodiversity. Irish Fiscal Advisory Council warns that now is the time to prepare The Irish Fiscal Advisory Council has warned in its latest Fiscal Assessment Report that now is the time to prepare for future budgetary pressures while the economy is strong. The Report, which referred to research carried out by Eddie Casey and Killian Carroll (2023) What climate change means for Ireland’s public finances, which warns that climate change will have a significant impact on Ireland’s public finances, involving higher spending and resulting in some revenue streams falling and needing to be replaced. The pressure of addressing climate change, along with the pressure of supporting an ageing population, could amount to 6 percent of national income by 2050 (€20 billion in today’s terms). NORTHERN IRELAND/UK Public consultation on new Electric Vehicle Excise Duty The UK Government has opened a public consultation on the Electric Vehicle Excise Duty (eVED), announced by the Government in Budget 2025. The eVED is a new mileage charge for electric and plug-in hybrid cars, which will take effect from April 2028. The deadline for responses is Wednesday 18 March 2026 and you can find details including how to response here: Consultation on the Introduction of Electric Vehicle Excise Duty (eVED). Northern Ireland renewable electricity use A total of 44.2 percent of total metered electricity consumed for the year ending September 2025 was generated from metered renewable sources located in Northern Ireland. The ‘Electricity Consumption and Renewable Generation in Northern Ireland: Year ending September 2025’, which published this week, details the percentage of electricity consumption in Northern Ireland generated from renewable sources, and includes information on the type of renewable generation. Of all renewable electricity generated within Northern Ireland over the 12-month period October 2024 to September 2025, 82.2 percent was generated from wind. This compares to 81.9 percent for the previous 12-month period (year ending September 2024). Climate reporting strengthens public bodies’ grasp of risk, report finds A report from the UK’s National Audit Office (NAO) suggests that the requirement to file annual climate reports has strengthened public bodies’ grasp of relevant risk factors, leading to a range of further improvements. The report, titled Implementation of climate-related reporting in central government annual reports, evaluates the effects of new obligations upon central government bodies to report in line with the framework devised by the Taskforce on Climate-related Financial Disclosures (TCFD). The UK was among the first nations globally to introduce an internationally recognised framework of climate-related disclosure into annual reporting in central government. The NAO reportedly found examples of emerging good practice, particularly where there was integration between different government professions – such as finance, sustainability, risk and policy – and clear senior ownership of the risks and disclosures. This suggests that TCFD-aligned reporting has potential to deliver significant and valuable benefits to public bodies: “Respondents said that using TCFD to prepare their disclosures has boosted senior engagement with climate issues. In the process, it has helped leaders to improve their understanding of related risks, strengthen financial management and identify potential cost efficiencies.” FCA publishes proposals to ensure transparency, reliability and comparability of ESG ratings The UK’s Financial Conduct Authority (FCA) has published proposals to ensure that environmental, social and governance (ESG) ratings are transparent, reliable and comparable. ESG ratings inform investment decisions, risk management and regulatory reporting, and global spending on ESG data (including ratings) is projected to reach $2.2 billion in 2025. The proposal follows the decision by the UK Government to bring ESG ratings within the FCA’s remit which was supported by 95 percent of those who responded to its consultation. The aim of introducing clear, proportionate rules for transparency and governance is to help to build the market’s trust in ESG ratings and address concerns through proportionate oversight benefits business and reinforce the UK’s reputation as a global sustainable finance hub, supporting innovation and continued growth. Feedback on the proposals is invited until 31 March 2026. WORLD Greenhushing and climate communications Research conducted by the BBC, and reported upon by FTI Consulting, has found that companies may not be as reluctant to share information on climate commitments as commonly thought. The phenomenon of companies not wishing to talk about their science-aligned climate targets was described by South Pole, the Switzerland-based climate consultancy which originally coined the term ‘greenhushing’ in 2022.  Recent research by Harvard, has also found that only 13 percent of surveyed companies scaled back their sustainability efforts or public messaging, findings echoed by PwC in its 2025 Decarbonisation Report  which noted that the number of companies overall making climate commitments continued to grow showing a strong commitment to sustainability as a source of business value. “Companies may be talking less about their climate pledges, but many are focused on addressing rising energy demands, protecting value at risk, responding to evolving customer expectations, and designing their operations to secure long-term growth and resilience”.   ARTICLES ‘If we wait it will be too late’: Why 500 scientists are backing this urgent climate declaration (Euronews) PCAF Launches Updated Emissions Measurement and Reporting Standard for Financials (ESG Today) Global accounting body consults on new model for assessing bank risks (Reuters) If COP won't deliver, others will (Climate Action for Associations - CAFA) The wins of COP that nobody noticed (Financial Times) Banks should see climate resilience as a business opportunity (Sustainable Views – Subscription needed) In everyone’s interest: How the ECB can support the energy transition with green interest rates (WWF)       Events   Equality Commission for Northern Ireland, Event to Help Employers Apply Reasonable Adjustments This in-person event will help employers create inclusive workplaces for people with disabilities by demonstrating how reasonable adjustments can and should be applied. Hear from employers A&O Shearman and Belfast City Council on effective approaches, and learn about support services and programmes from disability sector representatives and government departments. Girdwood Community Hub, Belfast, Thursday 11 December 2025, 9:30am – 1:00pm | Cost: Free 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 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.  

Commenting on the Government’s Accelerating Infrastructure Report and Action Plan, Cróna Clohisey, Director of Members and Advocacy at Chartered Accountants Ireland said  “It is evident that today’s report is the result of engagement with external expertise by the Taskforce, combined with the sectoral experience on the Taskforce itself. This represents an encouraging change in approach to the infrastructure challenge, with a strong focus on a culture of accountability and delivery.  “Infrastructure deficits need to be addressed holistically and strategically if Ireland is to achieve its growth ambitions. These 30 well-considered, high impact actions are encouraging from our perspective as a professional body representing 40,000 businesspeople across the economy. It is also encouraging to see such a commitment to reduce regulatory barriers in Ireland, and the acknowledgment that this will be done against a background of EU simplification. We look forward to seeing implementation under the four pillars in 2026.”