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.
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.