In this week’s Sustainability/ESG bulletin, read about ‘green and social considerations’ in public procurement, new funding for bioeconomy initiatives and requests for input on the ongoing consultation on Ireland’s charging network. In addition, we provide updates on Pre-Seed Start Fund applications, the Irish Sovereign Green Bond (ISGB), European Commission updates on CBAM and sustainable forest management, and the usual roundup of articles, resources and events.
‘Green and social considerations’ in public procurement
The Office of Government Procurement (OGP) and the sector procurement bodies in Education, Health, Defence, and Local Government have established 150 central buying arrangements across 16 main categories of expenditure, according to a Memorandum for Government to Cabinet published this week. The Memorandum outlines plans to promote the increased use of centralised procurement arrangements across the civil and public service. In addition to aggregating the buying power of the State and avoiding duplication of effort by public service bodies and suppliers, these solutions allow for the mainstreaming of green and social considerations into public procurement. A Circular, provisionally scheduled for publication in early 2024, will be issued to all public bodies focusing on Government’s procurement policy regarding the use of central procurement arrangements.
New €10 million bioeconomy funding initiative announced
€10 million has been announced for a 2023 Bioeconomy Demonstration Initiative under the EU Just Transition Fund, aiming to support close collaboration between stakeholders along the bio-based value chain (including SMEs, research-performing organisations, local authorities, and others). Applications must be submitted online through Application Submission Portal of Department of Agriculture, Food, and the Marine (flexigrant.com) by 13 October 2023.
Consultation on Ireland’s charging network ongoing
The Minister for Transport intends to publish Universal Design Guidelines for Ireland’s Electric Vehicle Charging Infrastructure in December 2023. The Department of Transport is inviting everyone to have their say by completing this public survey accompanying the draft Guidelines. The guidelines propose key recommendations to ensure universal access to EV charging infrastructure. The closing date for taking part in the public consultation is 5pm on Tuesday, September 26 2023.
Enterprise Ireland ‘particularly interested’ in solutions to climate crisis in Pre-Seed Start Fund applications
Enterprise Ireland has announced it is ‘particularly interested’ in receiving applications from start-ups with solutions to address challenges and opportunities regarding climate action with an emphasis on decarbonisation, including but not exclusive to renewables, carbon capture technology, innovations in buildings and transport applications and sustainable materials. The announcement was made as Minister for Enterprise, Trade and Employment Simon Coveney, T.D., invited early-stage businesses to apply for Enterprise Ireland Pre-Seed Start Fund (PSSF) which supports the critical early needs of new start-up companies. The fund, which will provide up to €100,000, is open to innovative start-ups in all sectors, with a focus on manufacturing, life-sciences, food and renewables sectors.
NTMA announces publication of the Irish Sovereign Green Bond (ISGB) Allocation Report for 2022 and the Impact Report for 2021
The National Treasury Management Agency (NTMA) earlier this month announced the publication of the Irish Sovereign Green Bond (ISGB) Allocation Report for 2022 and the Impact Report for 2021 (available here). Over €3 million was allocated to eligible green projects in 2021 and 2022. Since the launch in 2018 of the Irish Sovereign Green Bond (which is designed to provide investors with the financial features of standard Irish government bonds combined with sovereign green bond market practices), over €10,787.8 million proceeds has been allocated. This is the fourth Impact Report issued in accordance with the ISGB Framework, and it details the environmental impact measures connected with the 2021 Allocation Report. It is spread across the six eligible green categories: Built Environment/Energy Efficiency; Clean Transportation; Climate Change Adaptation; Environmentally Sustainable Management of Living Natural Resources and Land Use; Renewable Energy; Sustainable Water and Wastewater Management.
European Commission updates: CBAM and sustainable forest management
The European Commission has adopted the rules governing the implementation of the Carbon Border Adjustment Mechanism (CBAM) during its transitional phase, which starts on 1 October of this year and runs until the end of 2025. During the transitional phase, traders will only have to report on the emissions embedded in their imports subject to the mechanism without paying any financial adjustment. This is to give adequate time for businesses to prepare in a predictable manner, while also allowing for the definitive methodology to be fine-tuned by 2026.
Separately, the European Commission has approved a €45 million Irish scheme to support sustainable forest management. The scheme, which will run until 31 December 2027 and will be open to companies of all sizes in the forestry sector. The scheme will be in the form of direct grants, covering up to 100 percent of the eligible costs, to support landowners to implement economically, ecologically and socially sustainable forest management and use techniques to promote the growth of forests, protect biodiversity, soil and water quality and the forest landscape, adapt forests to climate change, and increase the ability of forests to store carbon.
Resources
The updated Climate Essentials for Accountants guide demystifies the vocabulary of climate action and introduces accountants to jargon that they will hear with increasing frequency over the coming months and years.
Articles
- ESG for SMEs: how to adapt your finance function (ICAEW)
- Campaigners threaten EU with legal action over climate policy (RTÉ News)
- BlackRock’s support for climate and social resolutions falls sharply (FT)
Jobs
Group Sustainability Reporting Manager - Glenveagh Properties plc, Maynooth, County Kildare.
Upcoming events
Dublin Chamber: The Future of Sustainable Finance
The latest event in our Dublin 2050 series. Dublin has been steadily growing its reputation as a hub for sustainable finance in recent times, making significant progress in advancing sustainable finance practices and attracting investments aligned with ESG principles. This expert panel-led event aims to contribute to knowledge sharing, collaboration, and innovation within the business community.
In person, 5 September, 8.30 – 10.00. Dublin Chamber, 7 Clare Street, Dublin 2
Dublin Chamber – Sustainability Academy Workshops
Dublin Chamber has announced it will offer Sustainability Academy workshops in Autumn. Beginning with a workshop on Sustainability/ESG 101 in September, the 3-hour Zoom workshops includes a free one-hour, post-workshop one-on-one advisory consultation per company with an expert advisor. Find out more here.
InterTrade Ireland: The Shared Island Fund – Bioeconomy Demonstration Initiatives Funding opportunity
Virtual, 14 September, 10:00 - 11:00.
Environment Ireland’s: Environment Conference
In person: 14–15 September, Croke Park, Dublin
Business Post LIVE/iQuest: Energy Transition Summit
In person: 19 September, Croke Park, Dublin
ESDN: European Sustainable Development Week (ESDW) 2023
18 September – 08 October. 113 initiatives in 10 countries.
DETE: Building Better Businesses North-East Event, Dundalk Institute of Technology
The latest in the series of Building Better Business events organised by DETE across the country to help businesses focus on the opportunities and challenges presented by the green economy and digital transformation. This event is open to businesses based in the North East.
In person: 22 September, 9.00 - 1.00 - Multi-Purpose Centre (MPC), Faulkner Building, Dundalk Institute of Technology.
EPA: Circular Economy Conference
This hybrid event will be an opportunity to learn about recent developments in the circular economy and the opportunities and challenges in implementing a circular economy in Ireland. There will be opportunities to network and participate in polling and Q&A sessions.
Women in Business (Northern Ireland) Women in Finance
Women in Business is running a wide-ranging programme of female entrepreneurship events over the upcoming months. The events include sectoral networking, webinars, and training courses for essential skills. On 25 October 2023, 10am to 11:30am, a specific session on women in finance will focus on work in finance departments, small scale accountancy or work for yourself, both members and non-members are welcome to join this online event.
Accountancy Europe: Preparing for high-quality sustainability assurance engagements
In person: 3 October, 14.00-17.00, ACE events - Av. d'Auderghem 22, 1040 Brussels
Climate Finance Week Ireland 2023
In person and virtual: Monday, 20 November – Friday, 24 November
Network for Chartered Accountants working on ESG projects
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 Accountants Ireland now has a network to allow members working in sustainability/ESG to meet and discuss all matters of interest re ESG and accounting.
- 3rd or 4th Wednesday of every month
- Next: 30 August 2023
- 14.00-15.00/30
- Teams
If you would like to attend please email sustainability@charteredaccountants.ie
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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