In this week’s Sustainability/ESG Bulletin read about Ireland’s first National Climate Change Risk Assessment, new sustainability coaching platforms and funding opportunities, Northern Ireland’s Green Skills Action Plan, secondary EU legislation for Net Zero Industry Act, a global SME Sustainability Information Survey, Central Bank warnings of GDP losses from extreme weather events, as well as the usual resources, articles, podcasts and upcoming events.     Chartered Accountants Ireland Chartered Accountants Ireland and other businesses join call to action   Chartered Accountants Ireland took part in a call to action on Pearse Street this week, urging Dublin City Council and local stakeholders to make Pearse Street greener, more vibrant and more engaging for street users - and to take meaningful action on the climate and biodiversity crises. In support of the initiative, Lord Mayor of Dublin, Emma Blain, and Green Party leader Roderic O’Gorman TD were in attendance, underlining the importance of collaboration between civic leaders and local communities to reimagine urban space. Read more here.   ⭐Last chance to enter: Chartered Star! ⭐ There are only days left to enter for your chance to become the 2025 Chartered Star! Expand your network, embrace new opportunities, be inspired and be part of a global community of change makers.  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. Along with the title of Chartered Star, the winner will attend the One Young World in Munich this November. Apply before midnight, this Sunday 8 June.  IRELAND NEWS The Environmental Protection Agency (EPA) has published its greenhouse gas emissions projections for the period 2024-2055, which indicate that planned climate policies and measures, if fully implemented, could deliver only up to 23 percent emissions reduction by 2030 compared to 2018. This falls short of the reduction target of 51 percent set out in Ireland’s Climate Act. The transport, industry and the buildings (residential) sectors are projected to be the furthest from their sectoral emission ceilings in 2030. Commenting, Laura Burke, Director General, EPA said that the figures highlight “the economy-wide effort needed to decarbonise our society” and the need for focus to shift from policy aspiration to practical implementation.”    Ireland’s first National Climate Change Risk Assessment publishes The EPA has also published the first National Climate Change Risk Assessment which assesses where, when and how climate risks are likely to impact Ireland. The risk assessment is intended to support the development of Sectoral Adaptation Plans by key government departments, and will guide the development of Local Authority Climate Adaptation Plans, and inform other national-level adaptation responses, such as that by the Central Bank of Ireland. It identifies 115 risks spanning all sectors of Ireland’s economy, environment and society, including risks to financial systems, energy, transport and communications, water security, public health, food production and supply chains, and ecosystems. Four priority risks identified are Flooding, Extreme Wind, Coastal Erosion and Flooding and Heat, all of which will require additional action in the next five years.   Bank of Ireland launches Sustainable Business Coach online platform for SMEs Bank of Ireland has launched a new Sustainable Business Coach online platform, a free tool designed to support SME business customers with sustainability planning and identifying ESG priorities. Underpinned by a globally recognised framework based on the UN’s Sustainable Development Goals, the platform is designed as an ESG questionnaire, with businesses answering a series of multiple-choice questions and thee resulting assessment providing a summary of their current sustainability position with key action areas. Action areas include greenhouse gas (GHG) emissions, employee engagement, energy usage, procurement and water & waste management. The platform was launched following research conducted by Bank of Ireland which revealed that most SMEs are unclear on how to implement sustainable growth plans; over 70 percent were concerned about the impact ESG requirements could have on their own enterprises.   Open Call for expression of interest to deliver Series 2 of the Growth and Sustainability Loan Scheme The SBCI has launched an Open Call for Expression of Interest to identify and select finance providers to deliver Series 2 of the Growth and Sustainability Loan Scheme (GSLS), the long-term low-cost scheme to support eligible businesses when investing in their growth and resilience or climate action and environmental sustainability. Proposals submitted to SBCI must conform to the requirements of the Call. Finance providers interested in presenting a submission must read the Guidance Document first. The closing date for receipt of Expressions of Interest is 17 June 2025.   SEAI National Energy Research Funding Call - 2025 Call Open The Sustainable Energy Authority of Ireland (SEAI) has announced that applications are now open for the 2025 SEAI National Energy Research, Development & Demonstration (RD&D) Funding Programme. Up to €19 million is available in Government funding through the Department of Climate, Energy and the Environment and co-funders including, Met Éireann, Climate Change Advisory Council Ireland, and Department of Agriculture, Food and the Marine. The 2025 call is open for applications from all research disciplines, and from public and private sector organisations, either applying individually or as part of a consortium. The deadline for submissions is 12 noon (Irish Standard Time) 1 July, with awards notified in Q4 of 2025.   NORTHERN IRELAND/UK Northern Ireland’s Green Skills Action Plan launches Northern Ireland Economy Minister Dr Caoimhe Archibald has launched a Green Skills Action Plan, developed in conjunction with an industry-led expert working group. The Action Plan provides a framework to guide government, employers, educationalists and individuals on what is required to deliver the skills and green jobs for the future. Commenting, Gordon Parkes, Executive Director People and Culture for NIE Networks and Chair of the Green Skills Delivery Group, said that the plan “presents a once in a generation opportunity to create an integrated green skills system that works effectively for individuals, business and the economy.”   How to support SMEs to cut carbon and costs The UK’s Federation of Small Businesses has published a policy report  New Growth - how to support small businesses to cut carbon and costs on the road to net zero. The report, which was supported by Zurich UK, highlights the pivotal role small businesses play in driving the transition to a sustainable economy and emphasises the need for tailored support to help SMEs decarbonize, especially those eager to embrace sustainability, but facing challenges such as limited knowledge, financial constraints, and regulatory complexity. Together, FSB and Zurich call for collaborative efforts to unlock the green economy’s potential and ensure small businesses are equipped to lead the charge toward net zero.   EUROPE European Commission launches secondary legislation for Net Zero Industry Act The European Commission has issued four new pieces of secondary legislation and a communication relating to the Net-Zero Industry Act (NZIA) which it states will help the EU's industry to become more resilient and competitive and will reduce its carbon footprint. The rules clarify which manufacturing projects can benefit from specific provisions in the Act, such as on permitting, strategic project status and on non-price criteria. They will help scale up the manufacturing of net-zero technologies that reduce greenhouse gas emissions and leverage the competitive advantage of the EU's clean tech industry.   EU Parliament supports proposals to simplify EU carbon leakage instrument The EU Parliament has endorsed the Commission’s proposal to simplify the EU carbon border adjustment mechanism (CBAM). The proposed changes are part of simplification efforts to reduce the administrative burden for SMEs and occasional importers. The proposal would exempt the vast majority (90 percent) of importers − mainly small and medium-sized enterprises and individuals − who import only small quantities of CBAM goods. The CBAM environmental objectives remain achievable, as 99 percent of total CO2 emissions from imports of iron, steel, aluminium, cement and fertilisers would still be covered by the rules. Parliament is now ready to start negotiations with Council on the final shape of the legislation.   European Commission endorses assessment of Ireland’s €115.5 million payment request The European Commission endorsed a positive preliminary assessment of Ireland's second payment request for €115.5 million under the Recovery and Resilience Facility, the centrepiece of NextGenerationEU. The payment request supports six reforms and five investments that will benefit citizens and businesses in Ireland, focusing on enterprise emissions reduction, sustainable transport, carbon taxation, digitalisation in schools, businesses, and public administration, as well as ICT skills, healthcare, pensions, and housing. Flagship measures in this payment request include an investment to support the electrification of Cork rail, and an investment to support industry decarbonisation. The Commission has sent its preliminary assessment to the Economic and Financial Committee (EFC), which has four weeks to deliver its opinion, on receipt of which - and the adoption of a payment decision by the Commission - the payment to Ireland can take place.   Businesses call on EU to set 90 percent 2040 emissions-reduction target Over 150 businesses and investors have signed a joint letter calling on the EU to set a greenhouse gas emissions reduction target of at least 90 percent by 2040. The letter, which was coordinated by the Cambridge Institute for Sustainability Leadership’s Corporate Leaders Group Europe, states that “Businesses are ready to play a key role in translating climate targets into concrete action with the support of enabling measures and policies” . The science-based target reflects the urgency and benefits of near-term action, one that will bring economic opportunities and competitiveness benefits while increasing energy security for citizens and businesses, and improving the EU’s resilience to shocks. The signatories further argue that the target - and climate more broadly – should be considered as a central element of the EU’s overall strategy to achieve these objectives, thereby allowing the EU to lead the global race of development of sustainable industrial ecosystems and industries.    EU on track to meet 2030 emissions goal thanks to strong progress on renewables A European Commission assessment of member states’ updated National Climate and Energy Plans (NECPs) reportedly said the EU is “well on track” to reduce emissions by 54 percent by 2030, just one percent shy of its legally binding 55 percent target. Civil society groups, however, point to shortcomings in the NCPDs, saying that many lack the necessary ambition and policies to deliver the emissions reductions required, particularly in the field of energy efficiency. Ireland is among a coalition of NGOs from countries including France, Germany, Italy, Sweden, Bulgaria, Cyprus, and Malta which is reportedly calling on the European Commission to launch legal action against their governments for the shortcomings in their climate plans, which they consider to be not just policy failures but breaches of EU law.   WORLD Central Banks warn of GDP losses from extreme weather events The group of Central Banks and Supervisors that comprise the Network for Greening the Financial System (NGFS) has warned that extreme weather events could cause severe regional GDP losses, with effects on the global economy, and that delaying efforts to transition to a low-carbon economy could generate a global net economic loss. The warning was issued as NGFS unveiled its new short-term scenarios tool to assess the impact of climate shocks and policy shifts in the near term, adding to its established long-term models. The scenarios, released on 7 May, are the first publicly available tool offering a dedicated framework to analyse the potential near-term impacts of climate policies and climate change on financial stability and economic resilience.   Institutional investors leading the way in ESG Private capital managers have emerged as some of the strongest advocates of ESG, according to latest biennial ESG study carried out by BNP Paribas. The study sought the views of 420 institutional investors, including asset owners, asset managers and private capital firms, across 29 countries. The findings show that institutional investors remain committed to sustainable investing, with growing recognition of holistic approaches and links between climate, biodiversity and social impact being approach is key to their investment strategies.   International Standard on Sustainability Assurance (UK) 5000 The Financial Reporting Council (FRC) has issued a consultation on a proposed UK version of the International Standard on Sustainability Assurance (ISSA) 5000, “General Requirements for Sustainability Assurance Engagements”. Read more from Chartered Accountants Ireland.   IFAC and Edinburgh Group Global SME Sustainability Information Survey IFAC & Edinburgh Group Global are inviting you to complete a short survey (10-15 minute) of small- and medium-sized entities (SMEs) about sustainability information. Your response will contribute to global insights that help us to better understand the extent to which sustainability-related information is being prepared by SMEs, used by SMEs in internal decision-making, or provided to supply chains, lenders, or other stakeholders. With the data we gather, we’ll be able to better support SMEs with best practices and advocate for appropriate SME sustainability-related reporting and assurance rules and regulations. This will advance the accountancy profession’s pursuit of high-quality disclosure and assurance of sustainability-related information. The survey is open until June 30, 2025 and please see this short video for more information.   Resources   Business Briefing on Anti-Greenwashing Regulation & Mitigation Risk This playback of a special online business briefing from Ibec on complying with anti-greenwashing regulation and mitigating risk with subject matter experts from A&L Goodbody covers different types of greenwashing, the existing legislative and regulatory framework for green claims, and incoming legislation on the topic.   Open call for participants in ‘The Business of Nature Positive’ at Trinity Business School A call is now open for businesses to engage with Trinity Business School’s new module The Business of Nature Positive. Run by Dr Catherine Farrell, Assistant Professor of Business & Nature at Trinity College Dublin and BFBI Business Programme Lead with Business for Biodiversity Ireland, the module is its second year, following successful engagement by students with businesses from a broad range of sectors in Ireland. Participating is an opportunity for businesses to learn more about sustainability reporting. Chartered Accountants Ireland participated in the programme in 2025.   Articles Irish businesses still see benefit in sustainability initiatives, survey says (Irish Times) TNFD guide affirms nature as a director’s duty (ICEAW Insights) How your business interfaces with nature - Data and language of the double materiality assessment (Business for Biodiversity Ireland) New Leaving Cert course aims to encourage climate activism (RTÉ News) Bank Watchdogs Flag Near-Term Risks of Delaying Climate Efforts (Bloomberg) Sustainability-focused funds surpass €6 trillion (Law Society Gazette) The business case for a 90% 2040 emissions reduction target (Sustainable Views – Subscription) Class is the missing link in employers’ diversity drives (The Financial Times - Subscription) European Union warned not to row back on 2040 climate goals (The Irish Independent)   Podcast Outrage + Optimism: The End of Oil: Inside the Hidden Decline of Fossil Fuels | Earth Day Special (54 mins)   Events   Chartered Accountants Ireland, Why Nature Matters to Accountants Join Rosie Duncombe FCA, Dr Catherine Farrell, and Institute team members Dee Moran and Susan Rossney as they discuss nature in decision-making to build business resilience and competitive advantage. This free webinar will also cover the Global Accounting Alliance’s starter guide, Why nature matters to accountants. Virtual, Zoom, Tuesday 17 June, 12:00pm–12:45pm   Dublin Chamber, Business Energy Upgrades: Drivers, Funding & other Tools for SMEs Reducing energy use and energy-related costs makes perfect sense: it saves money, protects against energy costs volatility and enhances businesses' reputations. It also improves building occupants' comfort and helps everyone in the fight against climate change. Join us at this event to discover the range of funding supports and practical resources available to help businesses implement energy upgrades. As part of the event there will be a suite of resources launched including Energy Upgrade: Decision Making Toolkit, Case Studies for different building typologies, Technical Advice Report Guide for SMEs, and a Financial Handbook. In person, Venue: Dublin Chamber, 7 Clare Street, Dublin 2, Wednesday 18 June 2025, Time: 9.30am – 11.00am.   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.     SEAI, Introduction to Energy Management Training for SMEs The SEAI is running an Introduction to Energy Management Training for SMEs workshop aimed at the owners, senior managers and facilities managers of small and medium enterprises who have recently started out on their energy saving journey. This is a free 2-hour online workshop which supports SMEs in creating an Energy Action Plan. Virtual, Thursday 12 june 14.00-16.00.   Business Post, Sustainability in the Built Environment - Scaling the Decarbonisation of our Built Environment One-day summit bringing together leading researchers, practitioners and policymakers to explore innovative strategies for reducing the carbon footprint of our built environment. Featuring strategies and solutions for scaling up building decarbonisation, our agenda will explore innovation, policy, technology, best practices and the challenges and opportunities ahead to drive meaningful progress. In person, 17 June 2025, Croke Park.   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   Grant Thornton: CSRD – Where are we and what comes next? Our expert panel will explore the implications of these changes on the Corporate Sustainability Reporting Directive (CSRD), how companies are adapting, and the evolving political landscape influencing ongoing negotiations. In person, Grant Thornton, 13-18 City Quay, Thursday, 3 July, 9:30 - 11:30am   Dublin Chamber, International Roundtable on Circular Economy with ECOPath The ECOPath Project supports SMEs in adopting Circular Economy practices to strengthen and implement their ESG performance. It equips SME staff with the knowledge and skills needed to reduce their company’s environmental impact through circular approaches. Join EcoPath Project and SMEs from Sweden, Germany, Spain, and Croatia to discuss these approaches, and the curriculum developed so far and have your say. The curriculum will look at: Applicable regulatory frameworks in relation to ESG and SMEs; Identify key principles of the ESG framework; Distinguish between the environmental, social and governance dimension of sustainable reporting; Compare the most common sustainability frameworks (incl. CE, ESRS, CSRD, SDG, CSR, ESG, GRI) Virtual, Webinar, Wednesday 9 July, 10.00-11.30.   SEAI, Decarbonising Transport Conference and Exhibition SEAI will hold their third annual Decarbonising Transport Conference and Exhibition on the 9th of September at Johnstown Estate, Enfield, County Meath.  If you work in, or are interested in transport, come along to find out the latest happening in this space and how leaders in the sector are tackling the challenge. Keep an eye on SEAI’s communication platforms as our speakers are introduced over the coming months In person, Tuesday, 9 September, 2025     Sustainability Centre You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.  

Green Pearse Street group of nearly 20 businesses calling for thoughtful planning 10 days after traffic changes present new opportunities for major thoroughfare     Thursday 5 June 2025 – A local group, Green Pearse Street, comprising nearly 20 businesses, is calling on Dublin City Council and local stakeholders to make Pearse Street greener, more vibrant and more engaging for street users - and to take meaningful action on the climate and biodiversity crises. The call comes on World Environment Day, just ten days after new traffic management changes were introduced on the street, allowing only public transport, taxis and cyclists to turn left onto Pearse Street from Westland Row. In support of the initiative, Lord Mayor of Dublin, Emma Blain, and Green Party leader Roderic O’Gorman TD were in attendance, underlining the importance of collaboration between civic leaders and local communities to reimagine urban space. To demonstrate how a section of Pearse Street can be transformed into a more social and eco-friendly space, the group showcased potential areas for urban planting and seating, bringing greenery onto the pavement in front of Trinity’s Biomedical Sciences Institute. This simple intervention illustrates how public areas can become more welcoming while supporting biodiversity. Members of the group also highlighted spaces - including basements and railed-off areas in front of buildings - where Dublin City Council and private businesses could introduce planting to foster microhabitats and attract pollinators. Green Pearse Street is calling on the Council to take further action to prioritise urban seating and greening - measures that would benefit not only the local environment, but also the economy and community wellbeing.   Lord Mayor of Dublin, Emma Blain said: “Dublin City is more than a network of roads, it’s a living, breathing community. It is crucial that our streets be accessible to cyclists, pedestrians, and public transport as well as to cars and other road users. Clean air and space for nature are equally vital. Together, we can create a healthier, more vibrant city where nature and community flourish, inspiring everyone to live and move in harmony”. Susan Rossney, Sustainability Advocacy Manager with Chartered Accountants Ireland said: “Businesses are integral to the wellbeing of our society, economy and environment, but nature and biodiversity are equally vital for the survival of businesses. 55% of the world’s GDP – equivalent to an estimated US$58 trillion – is dependent on nature and biodiversity.” “At a time when climate and biodiversity action is threatened, the public and private sectors need to work harder than ever to protect it. Getting started can be daunting, but groups like Green Pearse Street can share practical tips on how to set up and maintain green teams, what plants are good for pollinating insects and even how to connect with Dublin Simon to donate bottles and cans under the Deposit Return scheme.” Commenting, Dr Miriam Fitzpatrick, lecturer and researcher in architecture and urban design, said: “If Dubliners dream of a safer, greener, more civic city life, the street is where that dream begins. Green Pearse Street is hoping to lead the way. Pearse Street reflects the broader condition of Dublin’s city centre, shaped more by traffic flow than care for health or hospitality. Progress has come from local efforts, with many local businesses introducing planting. However, individual gestures are not enough. Four lanes of traffic, inadequate lighting, barriers to access, actively hostile edges and a lack of places to sit continue to define the street.” “Streets and parks are low-intensity battlegrounds. Without leadership, residents and businesses must guide themselves. This is not a celebration; it is a call to action. Pearse Street could be a vital link from the thriving docklands to the city’s historic heart; it deserves to be more liveable and green.” ENDS About Green Pearse Street Green Pearse Street is a diverse group of local businesses and organisations on and near Pearse Street, one of Dublin’s longest streets, stretching from Ringsend to College Green. It's aims are to ‘green’ the street, improve the air quality, create a health and biodiversity corridor, reduce traffic to support walking and cycling, and create a more social space for people.   Members of Green Pearse Street include Allies and Morrison, Chartered Accountants Ireland, Cloud Picker Coffee, Dublin Chamber, Grant Thornton, Henry J Lyons, Hibernia, Honey Truffle, IPUT Real Estate, Jobcare, McCanns, O'Neills Victorian Pub and Townhouse, Pearse Street Management, PLM Group, St Andrews Resource Centre, The Lombard Pub & Townhouse Accommodation, The Podcast Studios, Travel Lodge, Trinity College Dublin, and William Fry.   Working in two parallel streams, the Green Pearse Street group includes action at individual organisation level, and on the collective level to create street-wide change for businesses, local communities, tourists, and other street users. In the longer-term, the group will campaign for the optimisation of this significant streetscape to make greater provision for Dubliners and visitors to the city to stop and enjoy the surroundings, helping urban areas like Pearse Street achieve a 30% biodiversity net gain by 2030.   Coordinated work by businesses along the street has already commenced. Measures include planters at ground and roof/balcony level to provide food for pollinating insects; the construction of living walls/green roofs; the installation of bird boxes/feeders to provide space for nesting and foraging; and a programme of local community engagement.  UCD Masters students in an urban design module have carried out two consecutive studies on the quality of street life and street edges. Their analysis points to challenges and changes that can make the street a more welcoming place to be.   Key facts In 2023, Green Pearse Street surveyed over 750 users of Pearse Street to generate insights into their perceptions of visiting, as well as living and working on Pearse Street. 96% of those approached on the street identified a need for change (of some variety, ranging from small to larger scale). Only 6% rated the current street layout as very good or excellent, with 24% rating it as poor. Popular recommendations on changes to the street include addition of more greenery (91%) more social spaces (benches and tables) (77%), and a safe cycle lane (64%).       

Mark Lawther pledges to champion innovation and support Northern Ireland’s economic growth.  Mark Lawther has been elected Chairman of Chartered Accountants Ulster Society at its 118th Annual General Meeting. The Ulster Society represents over 5,700 Chartered Accountants across Northern Ireland and is a district society of Chartered Accountants Ireland, the largest professional body on the island of Ireland. Mr Lawther is a partner in EY Northern Ireland’s Assurance practice with over 15 years of audit experience. He supports a range of clients across Northern Ireland and the UK from indigenous entrepreneurs, PLC’s and multinational businesses and is actively involved in the EY Entrepreneur of the Year Programme. Addressing members at the AGM, Mr Lawther paid tribute to outgoing Chairperson Gillian Sadlier, praising her leadership in championing the strengths of Northern Ireland business and her campaigning on the issue of skills. Mark Lawther said: “It is a real honour to be elected Chairman of Chartered Accountants Ulster Society. I’m proud to serve this community and excited for the year ahead. I want to highlight the vital role that our members play in harnessing innovation and driving change – and the tremendous impact that has for our economy. “Northern Ireland’s capacity for innovation is one our greatest strengths, and Chartered Accountants have a key role to play in that story. At a time of geopolitical uncertainty, we want to ensure that we highlight the positives of living, working and doing business here in Northern Ireland.” With a strong focus on technology, Mr Lawther said that Chartered Accountants are rewriting the traditional role of the accountant, finding themselves at the heart of innovation, leveraging AI, data analytics and new technologies. He said: “As Chartered Accountants, we are redefining our profession – leading on innovation and contributing meaningfully to the businesses and communities we serve. “Our members provide the leadership which drives innovation in both the public and private sectors, boosting productivity and enhancing competitiveness across our region. In the year ahead, we will continue to be a trusted and progressive voice for our members across Northern Ireland.” Mr Lawther also recognised the importance of teamwork and thanked his family, mentors and his EY colleagues for their support, particularly during this period of exciting growth and as they open their second Northern Ireland office; based at Ebrington Plaza in the North West.   

Formally engage a mentor – the benefits to you and your career Organisations and individuals alike are increasingly recognising the value that comes from engaging with a mentor. A mentor is someone who teaches or gives help and advice to a less experienced and often younger person’ usually on career development. In an organizational setting, a mentor influences the personal and professional growth of a mentee. In recent years there has been a growing recognition of mentoring and the positive impact it can have both from a personal and professional development perspective, including how engaging with a mentor or indeed being a mentor can help to enhance your career success. Many organisations have developed their own mentor programmes to support the development of their talent, and in a market where talent attraction and retention are a major focus for employers, this approach makes sense and as you will see, has proven successful and had tangible benefits. The benefits of mentoring The benefits of mentoring are extensive both for the mentor and mentee. A snapshot of those benefits include: Benefits for the mentee Access to an independent sounding-board and feedback who understands you or your situation Improved confidence and clarity in relation to identifying goals and how to achieve them Feeling supported and more motivated to achieve goals The opportunity to gain new perspectives, ideas and insights The platform to develop relationship management skills and build on your network Benefits for the mentor Potential to develop your listening skills and encourage you to provide constructive feedback The opportunity to give back to your organisation and profession and to develop talent Provides a sense of fulfilment and purpose and can be motivational Obtain new perspectives and insights from the mentee  Developments in mentoring Group mentoring Group mentoring is where mentors and mentees meet in a group, rather than in pairs. It has become more widely used in recent years as it can be an effective way in which to scale the benefits of mentoring. Not only that, the group dynamic can help to accelerate the sharing of insights, guidance, advice and ultimately the learning obtained. Group mentoring can provide enhanced exposure to various levels of expertise and knowledge as each mentee brings and shares their own skills and lived experiences with the group. Another important benefit of group mentoring is the potential to widen and deepen your professional network. The move to the virtual world in recent years has certainly accelerated the growth in group mentor programmes, many of which are being run by international organisations, representative bodies, networking groups and employers. Reverse mentoring In a rapidly changing workplace reverse mentoring has also proven to be beneficial. The concept behind reverse mentoring is that younger members of the workforce act as mentors to their more senior colleagues and provide insights into such areas as technology, the future of work, engaging with and being relevant to younger generations. This approach has proven to be beneficial to organisations as they seek to be relevant to and connect with the younger generations. It can also assist in terms of developing strategies and initiatives to recruit and retaining younger talent. As with all mentoring, reverse mentoring can be beneficial for both the mentor and mentee. In this instance it provides the mentee with valuable insights from a younger generation and the mentor also benefits as the experience can boost their confidence and help them to feel they are influencing key decisions both for the mentee personally and for the organisation. Reverse mentoring can also prove beneficial when it comes to raising awareness and the understanding relating to diversity and inclusion topics and other contemporary issues. For example, it can help to improve senior leadership’s understanding of minority issues, including LGBTQ+ and ethnic minorities. Positive feedback from the Institute mentor programme The Institute offers a Career Mentor Programme to all members, which provides access to over 150 experienced Chartered Accountants with a diverse range of experience across a wide cross section of industry sectors both in Ireland and overseas. From our interactions with members who have availed of the Institute Career Mentor Programme, we have seen first-hand the benefits of mentoring. The feedback from mentees consistently speaks to such benefits as having the opportunity to gain an independent perspective, clarity in relation to career goals and the support, confidence and motivation to maximise their potential. One member explained that ‘it helped me to get clarity in relation to my career goals and what I need to do to achieve these goals’. Institute Career Mentor Programme The Institute operates a Career Mentor Programme with a database of over 150 mentors in Ireland and overseas. The mentors have vast experience across a wide cross section of industries, sectors, disciplines and locations. They have agreed to make themselves available to other Chartered Accountants to provide guidance and support as they develop their career. To avail of a mentor or to volunteer as a mentor The Career Mentor Programme is available to all members as part of a wider range of careers supports. Likewise, if you would like to volunteer as a mentor, contact us via email: careers@charteredaccountants.ie For more information click: https://www.charteredaccountants.ie/professional-development/Career-Development/Careers-Advisory/Mentoring Resources available Link to a webinar on mentoring https://www.charteredaccountants.ie/professional-development/Career-Development/Careers-Advisory/webinars-podcasts Mentoring article https://www.charteredaccountants.ie/professional-development/Career-Development/Careers-Advisory/online-career-resources/mentoring-a-win-win-relationship Dave Riordan FCA Recruitment & Careers Team – Chartered Accountants Ireland        

The North West Society AGM takes place at the Glasshouse Hotel Sligo at 6pm tomorrow evening. In the interest of a greener environment, we will not be providing printed copies of the documents, documents are available for review here

Lots of us are good at showing compassion and kindness to other people. What many of us aren't great at is showing ourselves the same understanding. Our inner critic and negative self-talk can be hard to ignore. But dwelling on mistakes and focusing on faults makes it hard to maintain personal resilience and good mental wellbeing. We could all use a little more self-compassion. The concept of self-compassion has three important elements: Mindfulness - being aware of your thoughts and feelings without judging them or dwelling on them Common humanity - a recognition that no one is perfect and that we all make mistakes Self-kindness - caring for yourself the way you would a friend or loved one in a similar situation Why is self-compassion good for your mental wellbeing? Research shows that people who exercise higher levels of self-compassion tend to be more resilient than those who don't. They have less of a physical response to stressful situations and spend less time dwelling on them after the fact. This is partly because self-compassion involves actively recognising your strengths and achievements, which boosts self-confidence and our belief in our ability to cope with difficult situations. But self-compassion also has an impact on our biology. Stress is your body's natural response to a perceived threat, sometimes called the 'fight or flight' response. A study by the Universities of Exeter and Oxford has found that exercising self-compassion helps to calm the heart rate and shut down this threat response. Participants in the study demonstrated a state of relaxation and security. They also reported feeling a stronger connection with other people. If you exercise self-compassion, you're also more likely to adopt healthy self-care behaviours such as getting plenty of exercise, eating well and establishing healthy sleep patterns. Put simply, you're more likely to make choices that boost your physical health, which is crucial for your mental wellbeing.  Self-compassion also encourages personal and professional development, which in turn improves our confidence and self-esteem. That's because it allows us to consider our strengths and skill set objectively without fear of criticism and judgement. We're then able to identify areas for improvement and make a change for the better. 5 ways to show yourself more compassion At its heart, self-compassion is about self-care or looking after yourself the way you would a friend. In fact, thinking about what you might say to a loved one in a similar situation is a good starting point. What advice would you give them? Here are a few ways you can start showing yourself a little more kindness and understanding: Practice mindfulness - learn how to notice and observe your thoughts without judging them. Mindfulness encourages you to be curious and self-aware, understanding that your thoughts and assumptions are just that. They're not facts. Reward yourself - celebrate your successes and achievements. Keep a list of your personal skills and strengths to review in moments of self-doubt Take a break - time away from your day-to-day routine and a change of scenery can help you keep things in perspective Strengthen your connections - kindness is contagious! By showing love and understanding to the people who are important to you, you're more likely to show yourself the same compassion Do things you enjoy - spending time on our passions, hobbies and interests is good for the soul. Article reproduced with the kind permission of CABA, the organisation providing lifelong support to ICAEW members, ACA students and their close family around the world.

The Financial Reporting Council (FRC) has issued a consultation on a proposed UK version of the International Standard on Sustainability Assurance (ISSA) 5000, “General Requirements for Sustainability Assurance Engagements”. The consultation proposes ISSA (UK) 5000 for use on a voluntary basis by assurance providers. The FRC proposes alignment with the international standard in order to minimise burdens for firms carrying out assurance engagements across multiple jurisdictions. The profession-agnostic Standard supports application by both professional accountants and other assurance practitioners, provided they meet the relevant quality management and ethical requirements. During its recent study of the UK sustainability assurance market, stakeholders expressed support for an assurance framework that provides a clear and internationally consistent approach to sustainability assurance. Stakeholders are invited to comment until 31 July 2025 on the appropriate adoption of ISSA 5000 for the UK market by emailing AAT@frc.org.uk. Read the consultation Read the summary of findings from the FRC’s market study on the UK’s sustainability assurance market Read the IAASB’s ISSA 5000 Implementation Guide providing practical non-authoritative guidance intended to assist practitioners in implementing ISSA 5000

In Irish news this week, Chartered Accountants Ireland launches its Pre-Budget 2026 submission and Revenue has confirmed that the facility to file draft iXBRL accounts will be withdrawn from 1 January 2026.  In UK news, HMRC has enshrined into legislation a long-standing VAT concession and there’s still time to share your views on the consultation examining reform of behavioural penalties. In International news, the OECD has published the consolidated text of the Common Reporting Standard (2025). Ireland 1. Read about the Pre-Budget 2026 submission compiled by the Institute, under the auspices of CCAB-I. 2. Revenue has confirmed that draft financial statements in iXBRL format will no longer be accepted from 1 January 2026. UK 3. In this week’s miscellaneous updates, HMRC has incorporated a VAT concession into law which allows additional time for deregistered businesses to submit a final VAT return. 4. There’s still time to share your thoughts on the reform of behavioural penalties. International 5. Read about the consolidated text of the Common Reporting Standard (2025) report recently published by the OECD. Keep up to date with all the latest Irish, UK, and international tax developments through Chartered Accountants Ireland’s Tax Newsletter. Subscribe to the Tax News by updating your preferences in MyAccount. You can also read this week’s post EU exit corner here.

Revenue has updated two electronic share trading guides, the Euroclear manual and the Crest manual to outline current work practices and to provide further clarifications throughout the manuals.

Last week, the year-to-date economic performance for Ireland was discussed with the Taoiseach at a Joint Committee on Finance, Public Expenditure, Public Services Reform and Digitalisation. At the meeting, Minister for Finance, Paschal Donohoe discussed the current trade tensions, de-globalisation, developments and outlook for the Irish economy and the Government’s policy response. In the opening statement, the Minister said: “Despite trade, geopolitical and other headwinds, incoming data confirm a strong start to the year. Looking ahead, however, the outlook for this year and next is dominated by uncertainty. Against a backdrop of de-coupling, the priority must be to double-down on our ability to attract high value-added investment and jobs to our country. Earlier this month, my department published its spring forecasts, as part of the Annual Progress Report. The key message from our analysis is that uncertainty is prompting households to increase precautionary savings and prompting firms to delay, or even postpone, investment” Details of the annual progress report and our related commentary can be read in a previous Tax Newsletter item.

Revenue has advised that it will be issuing a notice to all companies who have claimed the Research and Development (R&D) tax credit outlining common errors observed in claims being submitted. In the notice, Revenue outlines that making an R&D tax credit claim is a self-assessment process, hence the onus is on the claimant to ensure that a valid claim is made within the 12-month statutory time limit. The notice also confirms that Revenue does not have discretion when applying the R&D legislative provisions. The notice also encourages all claimants to review the accuracy of any R&D claim submitted or to be submitted to ensure a valid claim is made. Notices will also be sent to the agent for the relevant company.

Revenue has confirmed in guidance, ‘Submission of iXBRL Financial Statements as part of Corporation Tax Returns’, that draft financial statements in iXBRL format will not be accepted from 1 January 2026. Currently, by concession, Revenue accepts the filing of draft financial statements in iXBRL format in limited circumstances. In cases where the concession applies, draft financial statements can be filed, without prior permission from Revenue, if the filer is satisfied that director sign off of the financial statements is the only outstanding item. Where other issues are giving rise to the draft/provisional financial statements, filers are currently required to contact the Revenue Branch which handles their affairs. From 1 January 2026, draft Financial Statements in iXBRL format will not be accepted; companies experiencing genuine difficulties in meeting iXBRL filing deadlines will be required to contact their operational branch within Revenue. Revenue has also confirmed that the 2025 Irish extension taxonomies for FRS 101, FRS 102 and EU IFRS will be accepted from 1 July 2025, while the FRS 101 + DPL, FRS 102 + DPL and EU IFRS + DPL taxonomies with a date of 1 September 2017 will no longer be accepted from the same date.