In this week’s Sustainability/ESG bulletin, find out about Ireland’s ambitious EV charging strategy, and how you can register for the Department of Enterprise, Trade and Employment’s webinar on the Corporate Sustainability Reporting Directive next week. Also read about how wind energy displaced over €2 billion worth of both fossil gas and carbon credits in the wholesale market on the island of Ireland, Chartered Accountants Ireland’s new network for members working on ESG projects, and articles, jobs and events.
Ambitious strategy announced to improve Ireland’s electric vehicle charging infrastructure
Minister for the Environment, Climate and Communications and Minister for Transport Eamon Ryan T.D., has announced a €100 million strategy to improve Ireland’s electric vehicle (EV) charging infrastructure and ensure the continued uptake of EVs. The Electric Vehicles Charging Infrastructure Strategy 2022 – 2025 aims to ensure charging points are placed at 60km intervals along motorways, with charging systems also serving homes and apartment blocks and neighbourhoods. Currently, the majority of EV charging (c.80 percent) is done at home, and access to and installation of home charging infrastructure is relatively well established. The focus of this Strategy is the provision of publicly funded charging infrastructure for electric cars and light-duty vehicles, the demand for is anticipated to grow as EV uptake increases. Under its Climate Action Plans, the Government plans for nearly one-third of all private cars in the State to be EVs by 2030. There are currently only 73,500 EVs on State roads, although sales of EVs reportedly rose by 81 percent in 2022.
Under the new strategy, charging stations will also be set up at leisure and tourist locations like sports clubs, parks, visitor attractions and hotels – so-called ‘destination charging’. The first practical roll-out of the strategy is the new €15 million Shared Island Sports Club Scheme, which will open on 30 January and will help sports clubs install electric vehicle charge points in local communities across the island of Ireland.
This week also saw the UK government publishing its Electric vehicle smart charging action plan setting out the steps that government and the UK Office of Gas and Electricity Markets (Ofgem) will take to deliver energy flexibility from electric vehicle (EV) charging, providing affordable, green power.
Registration available: Department of Enterprise, Trade and Employment Webinar on Corporate Sustainability Reporting Directive
Registration is now open for a webinar by the Department of Enterprise, Trade and Employment (DETE) on Thursday 26 January (10am-12pm) to explain the new Corporate Sustainability Reporting Directive (CSRD). The Directive and accompanying mandatory reporting standards will apply to large companies whether listed or not, and to listed SMEs. Companies will have to report on their impact on the ESG matters and human rights, based on common standards, and the information companies provide will be audited.
Wind energy displaces over €2 billion on the island of Ireland
Wind generation in Ireland and Northern Ireland displaced a total of €2,570 million worth of both fossil gas and carbon credits in the wholesale market, reducing the island’s CO2 emissions and its reliance on fossil fuels. This is according to analysis conducted by energy consultants, which found ‘avoided costs’ for fossil gas of €1,650 million and £410, and of €340 million and £90 for carbon credits in the respective jurisdictions due to the wind energy’s contribution. In a single day (8 March) a total avoided cost of €43 million resulted from a combination of high winds and extreme fossil gas prices.
One-third of all electricity in Ireland was reportedly generated from wind in 2022.
Net Zero Technology Centre 2023 Open Innovation Programme
The Net Zero Technology Centre (NZTC) has launched its 2023 Open Innovation Programme aimed at developing and deploying data and digital technologies that will reduce offshore emissions, accelerate clean energy production, and enable delivery of the UK’s net zero ambitions. Businesses around the world can apply for up to £500,000 funding from NZTC, with the potential of additional match funding from industry to support their technology development and deployment projects. The projects must support the transition towards net zero with an obligation of trialling and deploying technology within the UK continental shelf.
UK Energy Bills Discount Scheme announced from 1 April 2023
The UK government has announced a new energy scheme for businesses, charities, and the public sector, ahead of the current scheme ending in March 2023. The new Energy Bills Discount Scheme (EBDS) will mean all eligible UK businesses and other non-domestic energy users will receive a discount on high energy bills until 31 March 2024. The EBDS will run for 12 months from 1 April 2023 to 31 March 2024.
Network for Chartered Accountants working in ESG
Are you a Chartered Accountant working in ESG 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 Accountant now has a network to allow members working in sustainability/ESG to meet and discuss all matters of interest re ESG and accounting.
- 3rd Wednesday of every month, beginning with 25 January 2023
- 14.00-15.00/30
- Chartered Accountant House/Teams
If you would to attend please email sustainability@charteredaccountants.ie
Articles
- How Eco-Friendly Is That Product? Four Ways to Spot Greenwashing (Bloomberg)
- Young scientists and sustainability (RTE News)
- Global action saved the ozone layer, so why not the climate? (RTE News)
- Most businesses believe rivals are greenwashing, new study finds (Irish Times)
- Companies parachute accountants in to fix flawed ESG data (Financial Times)
Events
- Scaling up the Circular Economy Webinar - Jan 27, 2023 12:00 PM
Circular at scale requires new thinking, new strategies, new tactics, new propositions. Business models and customer-supplier relationships need be reimagined. This webinar will focus on developing your ‘circular mindset at scale’ with input from circular champions who are embracing the circular economy at scale. The webinar is ideal for those, across leadership and boards, trying to figure out how to create value in their business through circular thinking. Ensure you design a secure circular value chain to future proof your organization. Jan 27, 2023 12:00 PM (Register here)
- Resource Matching Workshop – Northern Ireland
Hosted by Invest Northern Ireland's Resource Matching Service, a free in-person workshop from 9am–1pm on 22 February will allow businesses across Northern Ireland to find new, sustainable solutions to their waste resources and material needs, saving money and supporting Northern Ireland's green circular economy. Attendees will be asked provide information on what waste resources they have which could be sent to a new home for use instead of being disposed of - or what resources they want which others may have spare, saving costs on buying new. Resources can be anything from pallets and timber, steel offcuts to cardboard, vegetable mulch, used furniture, plastic containers. (Find out more here.)
Jobs
Financial/Reporting Accountant for major energy provider in Ireland’s Energy/Sustainability/Renewables sector. Newly qualified ACAs can contact Dave Riordan, Careers Team, Chartered Accountants.
Certificate in Sustainability Strategy, Risk and Reporting
Classes start Wednesday 15 February
Following sellout sittings in 2022, our Certificate in Sustainability Strategy, Risk and Reporting for accountants is back. Over 8 weeks, you'll cover key reporting frameworks and metrics, and learn to address the ESG opportunities and challenges that organisations already face. |
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Find out more
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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