In this week’s Sustainability/ESG Bulletin read about the Irish Central Bank’s focus on credible transition plans, the new National Semiconductor Strategy and a drop in national energy-related emissions. Also covered is the Carbon Border Adjustment Mechanism (CBAM) in Northern Ireland, a shift in corporate attitudes toward climate policy in EU businesses, a new global tool from the Network for Greening the Financial System (NGFS), The Circularity Gap Report 2025, and well as the usual resources and events.
Chartered Accountants Ireland
⭐The search for the next Chartered Star is now on! ⭐
Calling Chartered Accountants Ireland members: The 2025 Chartered Star competition celebrates the amazing work done by the Chartered community in support of the UN SDGs, whether that’s volunteering in your personal life, driving change in your workplace or through leveraging your ACA qualification.
As well as the prestigious ‘ Chartered Star’ title and joining an incredible community, the winner will get the once in a lifetime chance to attend the One Young World Summit in Munich this November (3 – 6 Nov), representing Chartered Accountants Ireland and Chartered Accountants Worldwide.
IRELAND NEWS
Central Banks highlights importance of credible transition plans
The Central Bank of Ireland has highlighted the importance of credible transition plans as a means to build resilience in firms and contribute towards a sustainable net zero economy. Its publication Planning for the Transition to Net Zero - Our Perspective for firms aligning their business with a society that is transitioning to net zero aims to assist regulated firms to navigate the regulatory landscape, and provide an accessible roadmap for transition planning.
Ireland's National Semiconductor Strategy
Ireland’s new Semiconductor Strategy, Silicon Island has been officially launched by Minister for Enterprise, Tourism and Employment, Peter Burke. The new initiative is designed to strengthen Ireland’s role in the global semiconductor industry and fulfil a key Programme for Government commitment. Speaking at the launch, Minister Burke noted that: “From AI to quantum computing and the green transition, semiconductors are at the core of global innovation. This strategy is Ireland’s commitment to helping deliver on the European Chips Act and to becoming a global leader in this vital sector. Ireland is turning to chips as the next big opportunity.”
Ireland’s energy related emissions now at their lowest level in over 30 years
The Sustainable Energy Authority of Ireland (SEAI) has published the Interim National Energy Balance for 2024 which provides data on Ireland’s energy production and use last year. The report shows that Ireland’s energy related emissions are now at their lowest level in over 30 years, falling a further 1.3 percent in 2024. This marks an overall decrease of 11 percent since carbon emissions targets were introduced in 2021 and the third consecutive year with an emissions reduction. This drop in emissions comes despite an increase in overall energy use. Increased use of bioenergy and technologies such as solar PV and heat-pumps meant that renewable energy supplied 14.5 percent of Ireland’s energy requirements last year, a slight increase on last year’s figure of 14 percent.
NORTHERN IRELAND/UK
Preparing for the Carbon Border Adjustment Mechanism (CBAM)
Invest Northern Ireland, the business advice and guidance service in Northern Ireland has published information on preparing for the Carbon Border Adjustment Mechanism (CBAM), the regulatory measure to prevent carbon leakage and encourage cleaner production processes and greener global trade practices (it applies to the cement, iron/steel, aluminium, fertilisers, hydrogen and electricity sectors). Preparing for the Carbon Border Adjustment Mechanism (CBAM) describes the EU CBAM as well as the UK CBAM, an upcoming technical consultation launched by the HRMC (closing on 3 July 2025) and the steps businesses can take to prepare if they are affected.
£1 million fund for resource efficiency solutions
The independent not-for-profit Material Focus has launched a £1 million fund searching for practical, scalable solutions that enhance resource efficiency, reduce environmental impact, and encourage collaboration across the industry. As well as £150,000 funding per project, successful applicants to the Circular Electricals Fund will be able to engage in industry networking, receive communications support, and have access to industry data, research and trends. Find out more about the Circular Electricals Fund and how to apply before 14 August 2025.
EUROPE
Report finds profound shift” in corporate attitudes toward climate policy in EU businesses
New analysis from InfluenceMap, a nonprofit that tracks corporate lobbying, has revealed “a profound shift” in corporate attitudes toward climate policy among businesses in the European Union. 52 percent of companies tracked by the platform now demonstrating science-aligned or partially science-aligned climate policy engagement, which, the analysis states, marks a significant increase from 24 percent since the presentation of the EU Green Deal at the start of the 2019 legislative cycle. Meanwhile, the proportion of companies with misaligned climate policy engagement has dropped from 34 to 13 percent over the same period.
WORLD
News from the Network for Greening the Financial System
The Network for Greening the Financial System (NGFS), the voluntary organisation of central banks and supervisors committed to taking climate risks into account in their work, has developed the first freely available tool for analysing the potential near-term impacts of climate policies and climate change on financial stability and economic resilience. The scenarios model four climate shock scenarios, highlighting both physical and transition-related risks with detailed sectoral and macroeconomic insights. It is expected that the dataset will be used for climate stress testing and risk assessments, helping institutions inform decisions in areas like investment, regulation, risk management and monetary policy.
Report finds global material consumption outpacing population growth
The Circularity Gap Report 2025 (CGR), published in collaboration with Deloitte Global, has found that global material consumption is outpacing population growth and generating more waste than recycling systems can handle. The 2025 issue of the annual global assessment of the circularity of the world’s economy underscores the need for global circular economy targets, system-level transformation, and multilateral collaboration. Produced by Circle Economy, an impact-driven organisation dedicated to accelerating the global shift to a circular economy, the reports aim to accelerate the transition to a circular economy through gathering and sharing data to empower others to make informed decisions and take action toward circularity.
Technical Round Up
(From our colleagues in Professional Accounting)
The Global Reporting Initiative (GRI) has written to the European Financial Reporting Advisory Group (EFRAG) setting out its recommendations of how simplification of the European Sustainability Reporting Standards could be achieved. In its response to EFRAG’s public call for input on the matter, GRI has stressed the importance of three key considerations for the simplification process;
- Europe needs to remain a global leader in promoting the green economy
- Effective corporate reporting is a key enabler for sustainable development
- Simplification is welcome – if it is defined, applied and managed well
EFRAG has released the event materials from its “VSME in Action: Empowering SMEs for a Sustainable Future” event, which was held on 7th April 2025.
EFRAG has also released a series of 10 educational videos focused on the VSME reporting standards.
Twenty consumer authorities, including Ireland’s Competition and Consumer Protection Commission have issued an open letter to the fashion retail sector on the use of environmental claims including advising fashion retailers to avoid vague and general terms.
Did you know?
Coldplay has partnered with The Ocean Cleanup to create a limited edition of its 2024 album Moon Music using vinyl pressed from plastic waste recovered from Guatemala’s Rio Las Vacas. The ‘Notebook Edition’ LP is made with 70 percent river plastic and 30 percent recycled bottles, highlighting the band's continued support for ocean cleanup initiatives. These efforts are part of Coldplay’s broader sustainability strategy, which has already reduced tour emissions by 59%. (Taken from SpeedRead Sustainability #52: Weekly Highlights)
Jobs
Accounting for Sustainability (A4S) is looking for a Director to lead and expand its European CFO Programme – a key leadership role helping finance leaders embed sustainability into business strategy and operations. This is a chance to work with CFOs from some of Europe’s most influential organisations and drive systemic change through finance. The successful candidate will play a vital role in shaping A4S strategy to 2030 and amplify the impact of our work across the region. 📅 Deadline to apply: 10 June 🔗 https://lnkd.in/eh3W-ssP
Articles
New Leaving Cert course aims to encourage climate activism (RTÉ News)
Sustainability-focused funds surpass €6 trillion (Law Society Gazette)
Podcast
Outrage + Optimism: The End of Oil: Inside the Hidden Decline of Fossil Fuels | Earth Day Special (54 mins)
Events
Dublin Chamber, The Sustainability Academy: Internal Sustainability Integration - Building a Sustainable Workplace Culture
This workshop is for professionals in internal-facing roles, such as finance, operations, and HR. It focuses on integrating sustainability practices within an organisation’s internal mechanisms, highlighting how these practices can enhance employee engagement, operational efficiency, and the workplace environment.
Virtual: Mon 26 May 2025 | 9.30am - 12.30pm
EPA, EPA Annual Climate Change Conference 2025
The EPA Annual Climate Change Conference, "Emissions Trading and The Carbon Border Adjustment Mechanism" will be held on Wednesday 28 May 2025 in Dublin Castle.
In person, May 28, 2025
UN Sustainable Development Solutions Network (SDSN), Sustainable Development Report (SDR) 2025 launch
The UN SDSN will launch its report which this year has a unique focus on reforming the Global Financial Architecture (GFA) and scaling up global financing flows to support the SDGs through 2030 and beyond. The launch event will present key findings from the SDR 2025, including the updated SDG Index and Dashboards, and will feature insights from high-level leaders and experts on transforming the GFA to better serve sustainable development.
Virtual, Tuesday, 24 June, 2024, 8:00 AM to 9:45 AM EST.
Enterprise Northern Ireland, Funding for Growth: Transitioning Your Business to Net Zero
The third session in a three-part in-person series for Micro and Small Businesses, which also includes events on Accessing Debt Finance and Grant & Equity Finance, this session will cover the importance of net-zero in future-proofing your business, support available to help finance your transition to net-zero, and how small businesses are leading the charge to net-zero
In person, Thursday 26 June 2025, 9:30am to 1:30pm, Venue: Craigavon Industrial Development Organisation, Portadown, Cost: Free
Sustainability Centre
You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.
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