Healthy Strategies to Combat Stress and Boost Your Well-Being In today’s fast-paced world, stress isn’t just an inconvenience it’s a silent epidemic. It seeps into every part of our lives, affecting our health, our productivity, our relationships, and even the way we show up for ourselves. Chronic stress doesn’t just weigh on our minds it impacts our bodies, too. And the consequences are often more severe than we realise. But what if the solution to stress doesn’t require an overhaul of your entire life? What if it’s about making small, 1% improvements every day—simple, manageable shifts that transform your well-being without overwhelming you? The High Cost of Stress: What’s Really Happening to Our Bodies? We hear a lot about the “dangers of stress,” but do we truly understand its toll on our health? Stress is linked to over 80% of doctor visits worldwide, contributing to a host of physical and mental health problems. From digestive issues to heart disease, the physical manifestations of stress are profound and the financial cost is staggering. In Ireland alone, stress-related absenteeism leads to the loss of 11 million workdays every year, costing the economy €1.5 billion. But the true cost of stress is personal. It impacts our relationships, our sense of self, and our overall well-being. Even more concerning, younger generations particularly millennials are on track to live shorter lives than their parents for the first time in modern history, largely due to lifestyle diseases tied to stress and poor health habits. While we can’t change the entire system, we can take charge of our own health. The good news is, the path to improvement doesn’t require dramatic changes. The solution is found in consistent, small steps—what I like to call the 1% approach. Why 1%? Small Shifts for Big Results You might be wondering: Can such tiny changes really have a meaningful impact? The answer is; absolutely. Let’s break it down: 1% of 24 hours is just 15 minutes. That’s it. Think about it just 15 minutes to breathe, stretch, journal, meditate, or take a mindful walk during your lunch break. When you commit to small, daily actions like this, over time they can shift the way you feel, the way you manage stress, and the way you take care of your body. By focusing on 1% improvements every day, you build habits that stick. This approach isn’t about overwhelming yourself with huge goals, it’s about showing up for yourself in manageable, meaningful ways. And the beauty of small changes is that they’re sustainable. Little by little, they lead to lasting transformation. Building Lasting Habits: Ability Over Motivation One of the biggest challenges people face when trying to make lasting changes is relying too heavily on motivation. We often think we need to feel inspired or have an overwhelming desire to act in order to make a change. The truth is, ability not motivation is the real key to success. Motivation can come and go, but the ability to create small, sustainable habits will carry you through. Instead of aiming for perfection or waiting for the “right” moment, start small. Focus on what you can do, not on an unrealistic, massive goal. The secret is consistency. Whether it’s taking 15 minutes to meditate, drink more water, or take a brisk walk, these small actions compound over time and before you know it, they become second nature. Scheduling: A Powerful Tool for Boundary-Setting and Self-Care In today’s digital world, it’s easy to feel like time slips through your fingers. The constant ping of emails, messages, and reminders makes it feel as though there’s never enough time for ourselves. But did you know that scheduling can be one of your most powerful tools for boundary-setting and self-care? When we schedule breaks, lunch hours, and time for clean rest and self-care, we take control of our day and, by extension, our lives. Scheduling isn’t about micromanaging every minute; it’s about intentionally carving out time for the things that matter most, including your mental and physical health. By setting aside time for rest, exercise, and mindfulness, we send a clear message to ourselves that we’re worth the investment. And here’s the kicker: Scheduling can actually reduce stress. When you plan your day thoughtfully rather than reacting to a constant stream of demands—you create space for balance, clarity, and self-compassion. It’s all about setting boundaries that protect your well-being, even in the busiest times. It’s time to take control—one small step at a time. Written by Róna Girvan for Thrive. Róna spoke at Thrive and the Cork Society’s Blue Monday Webinar, Balanced Living, 1% at a time, where she shared her 1% solutions to balanced living. You can watch the webinar on-demand here. Róna Girvan (Dr Róna Anderson) is a GP, Lifestyle Physician, and Life Coach. With a passion for empowering people to take control of their health and well-being, Róna combines her medical expertise with practical coaching strategies to help others lead healthier, more balanced lives. As a mother of two and a wellness advocate, she understands first-hand the challenges of juggling work, life, and self-care. Instagram: @the.balance.doctor email: thebalancedoctor2024@gmail.com.

As the new year unfolds, transforming vague resolutions into clear goals could help you achieve personal and professional success in 2025, writes Moira Dunne Turning the page from one year to the next brings a special energy. There is a feeling of opportunity, change and a chance to reset and restart. It is also a chance to build on your achievements in the year gone. A month into 2025, what can you do to ensure this is your year? Sometimes, we get weary of New Year’s resolutions and don’t stick to them. Turning those resolutions into real change can be challenging. A resolution without a plan is just a wish. Before you give up on what you promised yourself in January, here are some tips to help you turn your resolutions and wishes into real change this year. 1.  Remove ‘the vague’ to get started It is important to be clear about what you want to do to bring about real change. If your resolution is too vague, it will be easier not to start and procrastinate. Here are some examples: For a business goal, instead of saying, “Increase online presence for my business in 2025,” try, “By the end of January, increase use of LinkedIn by posting three times a week.” For a personal goal, instead of saying, “Get fit this year,” try, “Start weekly training to complete a 5km race in June 2025.” In these statements, you have added: A clear action A timeline A target to achieve Now it is easier to get started because you have clear tasks to work on. Once you get started, you will feel productive and motivated to keep going. 2. Identify what will help you Making changes can be hard and when motivation dips, we often find reasons not to continue. When your enthusiasm is high at the start of the year, this is the time to anticipate what you need to stick to your resolution. Buy the equipment, join the business network, download the running app, sign up for the training course and remove anything that may block your progress. 3. Be accountable Sometimes, external pressure helps us stay on track. You can create this accountability by telling others about your plan or displaying your goal on a board. For the business goal: Agree to update your progress on social media at the weekly team meeting. For the personal goal: Start training with a buddy or commit to regular club training nights. A financial commitment can be a great motivator, too. If you pay to join a business network, you will be more motivated to attend meetings. Registering for a 5km race will make you more likely to do it. Turn your goals into achievements Transforming your 2025 goals into tangible achievements is all about clarity, preparation and accountability. By replacing vague ambitions with precise, actionable goals, equipping yourself with the necessary resources and involving others to keep you on track, you’re not just hoping for change—you are making it happen. As you build on the successes of 2024, let this fresh start serve as a powerful reminder that every well-planned step enriches your personal and professional growth. Embrace the opportunities this year and turn your plans into progress. Moira Dunne is Founder of beproductive.ie

Sustainability in 2025 is entering a new era of regulation, scrutiny and adaptation. Russell Smyth outlines some of the key trends shaping ESG strategy in the corporate world. Sustainability is entering a new phase of regulation, scrutiny and strategic adaptation. With the first wave of Corporate Sustainability Reporting Directive (CSRD) reports set for release, companies will face heightened expectations for transparency and accountability. But CSRD compliance is just one piece of the puzzle. From the rise of artificial intelligence in environmental, social and governance (ESG) reporting to the shifting dynamics of greenwashing and ‘greenhushing,’ this year will bring significant changes to how businesses approach sustainability. Here are five key sustainability trends we expect to shape corporate strategies in 2025 and beyond. Businesses brace for scrutiny The release of the first wave of CSRD reports will happen this year, and these will be subject to a high level of scrutiny for their inaugural submissions. The heaviest critique will likely be directed at the methodologies behind double materiality assessment (DMA) approaches, given the several updates and amendments released by the European Financial Reporting Group since the conception of the CSRD. For the second wave of reporting organisations this year, there will be ample opportunity to learn from these initial sustainability statements. However, it is critical that any previous materiality exercises are aligned with the new DMA concept. Moving beyond ambitions While many corporates have felt compelled in recent years to announce high-level decarbonisation commitments, a significant number were arbitrary or made without credible plans to achieve them.  The advent of CSRD has changed this, with regulation now forcing corporates to back up these commitments with detailed, credible climate transition plans that will allow stakeholders to assess and monitor progress over time. Given CSRD implementation timelines, we expect a wave of such transition plans to be developed and published through 2025. Behind the green curtain Increased scrutiny on greenwashing last year led to numerous legal battles, particularly within the oil and gas, airline and fast fashion industries. Companies faced accusations of unsubstantiated net-zero claims and misleading marketing campaigns. This backlash has prompted a new wave of 'greenhushing', in which organisations under-communicate their sustainability efforts and quietly scale back commitments to avoid public scrutiny and reputational damage. This trend will continue with incoming regulations such as the CSRD, the European Union’s Green Claims Directive and the Enhanced Product Labelling Directive. These regulations will enforce transparency and accountability and ban the use of vague environmental claims, thereby enabling truly sustainable businesses to be fairly represented and allowing consumers to make informed purchasing and investment decisions.  Green fatigue ESG faces significant headwinds in 2025. The new US administration in the White House has pulled back on the green agenda, alongside a wider politicisation of sustainability.  We have already observed several large corporates retrenching on their sustainability actions, removing ESG roles from their boards, pulling out of Net Zero pledges and revising ambitious sustainability goals.  This trend isn’t surprising and reflects an inevitable “green fatigue” creeping in among corporates. Climate action requires short-term effort for long-term reward and makes it remarkably challenging for politicians and corporates focused on the short-term, to prioritise and adapt.  The EU’s introduction of mandatory sustainability reporting isn’t a coincidence. The EU recognises that legislation is the only way to encourage widespread adoption of robust ESG strategies and ensure ESG continues to grow in importance at pace throughout EU-mandated entities.  There is also an economic reality. Renewable energy is now the lowest-cost option for new electrical generation globally, so it’s not surprising that China has scaled up its renewable capacity significantly. Two-thirds of global utility-scale solar and wind power currently under construction is located in China. Nature is not optional For many Irish businesses in 2025, integrating nature and biodiversity impacts and dependencies into their decision-making processes is no longer optional. This year, the introduction of nature-related EU regulations, such as the Nature Restoration Law, will pressure corporations to make nature-based disclosures. This is expected to increase momentum behind voluntary nature-based disclosure frameworks such as the TNFD and target setting through the Science Based Targets Network (SBTN). This year will also see an expansion in efforts to define a set of universal ‘state of nature’ metrics, an increase in the integration of climate and nature transition planning and continued calls to close the nature finance gap and redirect nature-harming subsidies.  Russell Smyth is Partner and Head of Sustainable Futures at KPMG

The EU’s ViDA legislation represents a pivotal step toward modernising the VAT framework. Alex Baulf delves into the details It is fair to say that the VAT system across the European Union (EU) has become increasingly misaligned with the realities of 21st-century commerce. In an age defined by cross-border transactions, digital innovation and rapid market shifts, the current system serves neither businesses laden with complex compliance requirements, nor governments exposed to fraud and evasion. A fundamental overhaul has long been overdue. Enter the VAT in the Digital Age (ViDA) legislation, a landmark reform passed by the European Parliament in late 2024. ViDA represents a pivotal step towards modernising the VAT framework, addressing inefficiencies and embracing the demands of a digital-first economy. Though its approval was not without challenges—most notably opposition from Estonia, which voiced concerns about its implications for supplier economies—the legislation's eventual passage signals widespread agreement on the need for change. ViDA is not just a tightening of VAT rules or a regulatory clampdown on digital platforms like Airbnb and Uber. It is a transformative initiative. At its heart lies the embrace of e-invoicing. Changing the way businesses and tax authorities interact and promising unprecedented efficiency, greater compliance, and a robust defence against VAT fraud, e-invoicing is the centrepiece of a forward-thinking system built for the future. However, for Irish businesses, this transformation is not just an opportunity—the benefits of ViDA come with significant strategic and technological demands, requiring immediate preparation to ensure a smooth transition into this new digital age. A game-changer for businesses? E-invoicing is set to become the default system for cross-border transactions by 2030. Unlike traditional paper or PDF invoices, e-invoices are machine-readable, consistent, and embedded with rich, structured data. This allows businesses to automate their invoicing processes entirely, from receipt to validation and posting—a touchless system created to potentially save time and reduce errors. The traditional invoicing landscape, characterised by fragmented platforms and manual processes, has long been a burden for businesses, especially SMEs. A supplier with multiple customers often has to log into several different procurement systems and platforms to send invoices, an inefficient and costly approach. On the other hand, e-invoicing promotes interoperability through open networks, meaning businesses no longer need to rely on proprietary legacy systems. With tax authorities becoming intermediaries in the invoicing process, VAT compliance is integrated into real-time operations. This represents a profound shift, as tax authorities will now receive, review, and even deliver customer invoices. Italy's model, where the tax authority handles centralised distribution, sets the standard for how seamless this process can become. Why governments are embracing e-invoicing Governments are increasingly prioritising e-invoicing because of its potential to close the VAT gap, which currently sits at a staggering €61 billion annually in the EU alone. By enabling live reporting, tax authorities gain granular, real-time insights into transactions, making it easier to detect fraud and errors. Latin America has long adopted e-invoicing, demonstrating its effectiveness in increasing tax revenues and enhancing compliance. Europe is now catching up, with France, Spain, Romania, Poland, Belgium and Germany already announcing mandates ahead of the EU-wide 2030 deadline for intra-community digital reporting. According to the OECD, e-invoicing represents a “win-win”, offering higher revenue recovery for governments while making compliance simpler and less costly for businesses. The hard work begins The passage of ViDA is not the start of the journey—it is the finishing line for legislative approval. However, for businesses that have not already prepared, it marks the beginning of an urgent race to do so. E-invoicing may bring immense benefits, but implementing it requires strategic planning and technological investment. A recent study revealed that 55 percent of companies doubt their current ERP systems can support compliant e-invoicing. This underscores the need for a global, scalable solution rather than relying on disparate local systems or vendors. The shift to e-invoicing also demands significant changes to financial operations, IT infrastructure, and supplier relationships. Businesses that start preparing now will gain a competitive edge. Early adopters will ensure compliance and unlock efficiencies that can drive growth. Those who delay risk being overwhelmed by the complexity of new regulations and the technological demands of the system. A VAT system for a digital economy ViDA represents a long-overdue modernisation of VAT, aligning it with the realities of a digital and globalised economy. By introducing standardised e-invoicing, digital reporting requirements, and streamlined VAT registration processes, it simplifies business compliance and strengthens tax authorities' ability to combat fraud. But beyond compliance, ViDA offers businesses the tools to operate more efficiently and transparently. ViDA is a bold step forward, signalling the EU’s commitment to a more efficient, fair, and technologically advanced tax system. By acting now, businesses can position themselves as leaders in this new era, ready to reap the rewards of a modern VAT system. Alex Baulf is Vice President at Avalara

  In this week’s Sustainability/ESG Bulletin read about our Sustainability Trends overview for 2025. Also covered are the new sources of funding for sustainability programmes in Ireland, a public consultation on a National Policy Framework for Alternative Fuels Infrastructure, a report into skills shortages in Northern Ireland, the EU’s actions for safe and sustainable e-commerce imports, and its calls on Ireland to communicate measures re the Directive on Gender Balance on Corporate Boards. Find a link to the ICEAW’s new Sustainability Accelerator Programme, technical updates, and the usual articles and upcoming events.   Ireland news Enterprise Ireland launches programme to advance sustainability research Enterprise Ireland has announced the launch of the Sustain-FIT Programme (2025-2029), an initiative designed to strengthen Ireland’s sustainability and digitalisation research capabilities while addressing the urgent need for climate action. Co-funded by Enterprise Ireland and the European Union under Horizon Europe, the approximately €15 million programme will recruit 50 postdoctoral researchers from across the world to collaborate with Irish companies on innovative sustainability-focused research projects.  tec €12.1 million funding boosts sustainability and manufacturing productivity in third-level sector Ten successful projects from across the third-level sector have secured €12.1 million in funding to improve the capabilities of the existing Technology Gateways and EI/IDA Technology Centres by investing at a scale that allows them to bridge the gap between their existing capabilities and the state of the art. With individual awards of up to €2 million available, the equipment funded through this initiative will become an engine of economic development for local companies, in particular SMEs who could not afford to invest at this scale. The new equipment will particularly help companies develop new products and services in areas focusing on Sustainability and Manufacturing Productivity.    Funding to drive energy efficiency across the FET sector €8 million in funding has been announced for green capital grants at the 16 Education and Training Boards (ETBs) to help them deliver energy efficiency and decarbonisation targets in Further Education and Training (FET) buildings. The funding, which will be distributed through SOLAS, may be used to address small-scale measures specifically aimed at achieving targets for 2030, as set out in the Public Sector Climate Action Mandate. These include reducing Ireland’s Greenhouse Gas emissions by 51 percent by 2030, increasing energy efficiencies in the public sector to 50 percent by 2030, and updating Climate Action Roadmaps annually.   Public consultation announced on National Policy Framework for Alternative Fuels Infrastructure The Department of Transport has announced it will publish a public consultation in Q2 on a draft of theNational Policy Framework for Alternative Fuels Infrastructure. The Alternative Fuels Infrastructure Regulation (AFIR), in force since 13 April 2024, is an important part of the EU’s Fit for 55 policy package to reduce EU emissions by 55 percent by 2030 and make the EU climate-neutral by 2050. Ireland’s updated policy framework will revise and replace the existing National Policy Framework on Alternative Fuels Infrastructure for Transport in Ireland 2017-2030 to reflect the mandatory requirements set under the AFIR. The final policy framework is required to be submitted to the EU Commission by 31 December 2025.   ISIF and Schroders Greencoat launch new fund focused on investing in energy transition infrastructure assets across Europe The Ireland Strategic Investment Fund (ISIF) and Schroders Greencoat, the specialist renewables and energy transition infrastructure manager of Schroders Capital, have together announced a new private markets fund focused on investing in energy transition infrastructure assets across Europe and in particular, Ireland where the Fund will be seeking to invest in a number of projects. ISIF has committed €100m to the Fund, which will aim to build a diversified portfolio of energy transition investments across Europe. Investments in Ireland will be focused on the growth of renewable energy infrastructure capabilities, grid infrastructure, interconnection with Europe and the UK, and battery storage.   BITCI calls on the Government to accelerate corporate environmental action Business in the Community Ireland has published a list of 10 ways Ireland’s next government can support businesses in accelerating climate and nature action. The list, which published following the issuing of the Programme for Government, notes that businesses in Ireland are already taking steps, and “should be seen as a key partner in national environmental efforts.”  However, the report notes, without strong government leadership, the business community’s efforts risk being “undermined by uneven competition, inadequate infrastructure, and a lack of regulatory certainty.” The recommendations include, among other things, accelerating the roll-out of clean energy infrastructure, investing in decarbonisation, streamlining approvals for sustainable innovations, building sustainability skills of the workforce, and fostering collaboration for collective action.   Northern Ireland/UK news Northern Ireland faces significant skills shortage across key sectors Northern Ireland is projected to face a significant skills shortage according to the Northern Ireland Skills Barometer 2023-2033, developed by the Ulster University Economic Policy Centre. The report highlights a skills undersupply at all qualification levels, as the workforce grows to an anticipated one million jobs by 2033. Low carbon and net zero sectors are among the sectors in which this growth will occur, alongside agri-tech, life and health sciences, advanced manufacturing, materials and engineering, fintech and financial services, software and cyber industries. The report recommends that investing in skills remain a central pillar of economic policy, particularly for supporting the development of low carbon and net zero industries.   Net Zero Council relaunched to supercharge Clean Energy Superpower Mission The UK Government has relaunched an expanded Net Zero Council, bringing together business, civil society and local authorities to drive the clean energy transition as part of the Plan for Growth. New members include representatives from the Trades Union Congress and Design Council, bringing expertise of green skills and jobs creation to the council to support the government’s mission for clean energy growth on the path to net zero.  Among the priorities for 2025/26 is supporting small and medium-sized enterprises to decarbonise while maximising the benefits of the transition.   Voluntary climate reporting in UK events sector Ten local authorities in the UK have piloted a Green Events Code of Practice (GECoP) to assess how effectively local authorities could integrate an environmental assessment into event processes, and  the resulting positive impact it could have on their environmental practices. Developed by the event industry following a sector consultation, the GECoP pilot was led by Vision for Sustainable Events and Julie’s Bicycle. The Donut Advisory Toolkit for Events (DATE) was used as the main event assessment method against GECoP. For more information or to download the full report on the pilot project, visit https://bit.ly/GECoP_Pilot_Report   Europe News Accountancy Europe has published its February Sustainability Update, with news on the European Commission’s Competitiveness Package, EFRAG’s voluntary sustainability reporting standards for SMEs and more.   Commission announces actions for safe and sustainable e-commerce imports The European Commission has published a communication in which it is announcing action it is taking to tackle risks stemming from low-value imports sold via non-EU online retailers and marketplaces hosting non-EU traders. These actions are part of the Communication on E-Commerce which the Commission is proposing. The Commission is calling on the cooperation of Member States, the co-legislators and all stakeholders, to put in place the measures outlined in the Communication, and will assess the effect of the announced actions and publish a report on the findings of the increased controls within a year.   Commission calls on Ireland and other Member States to communicate measures transposing the provisions of the Directive on Gender Balance on Corporate Boards The European Commission has decided to open an infringement procedure[GM1]  by sending a letter of formal notice Ireland, among other Member States, for only having notified partial transposition of the Directive on Gender Balance on Corporate Boards. Member States concerned now have two months to reply to the letters of formal notice and complete their transposition, or the Commission may decide to issue a reasoned opinion.   World news OECD - Global Outlook on Financing for Sustainable Development 2025 The Organisation for Economic Co-operation and Development  (OECD) has published its Global Outlook on Financing for Sustainable Development 2025. This biennial flagship analysis of major trends impacting the global financial system and financing for the Sustainable Development Goals (SDGs) identifies priorities for negotiators at the Fourth International Conference on Financing for Development (FfD4), which is set to take place in Seville this year.   Institute for Human Rights and Business launches new database to “demystify” just transitions The Institute for Human Rights and Business (IHRB) has launched a database featuring 50 inclusive projects that are seeking to prioritise the rights of people most impacted by net zero. Compiled by IHRB, the JUST Stories Database is a practical resource for business, finance, government, unions and civil society,  spanning global initiatives across sectors including energy, agriculture, finance, and the built environment, where the people impacted by decarbonisation are actively involved in transition design in various ways.   Technical Roundup (From our colleagues in Professional Accounting)   The International Sustainability Standards Board (ISSB) is hosting an event on 25 February 2025 to discuss disclosures about transition plans - IFRS S2 Climate-related Disclosures.   The Financial Reporting Council (FRC) has published the final report from its market study into the assurance of sustainability reporting.   The GRI Academy has launched a new ESRS Reporting program for all reporters to prepare to navigate the Corporate Sustainability Reporting Directive (CSRD).   In its recent article, the GRI discuss some practices and steps that companies can take to mitigate against the risk of greenwashing.   The International Sustainability Standards Board (ISSB) has released a podcast hosted by ISSB Chair Emmanuel Faber and ISSB Vice-Chair Sue Lloyd discussing the latest developments around the ISSB.   In its article entitled “CSRD & CSDDD: key provisions and concepts”, Accountancy Europe look at some of the key features, concepts and differences between the two Directives.   The IFRS Foundation has published a guide entitled “Applying IFRS S1 when reporting only climate-related disclosures in accordance with IFRS S2”. This guide is intended to support the implementation of the International Sustainability Reporting Standards.   Resources The Institute of Chartered Accountant England and Wales (ICAEW) has designed a Sustainability Accelerator Programmeto offer chartered accountants practical tools on building the business case for sustainability, ESG reporting and more. The new programme, which launched on 3 February, offers flexible, bite-sized elearning resources and certificates to ensure accountants can better advise on all sustainability related matters. The Sustainable Energy Authority of Ireland (SEAI) has published a blog discussing various supports the EU provides for SMEs of all sizes and sectors: Three impactful ways your SME could benefit from EU supports Business for Biodiversity Ireland have published an article on the benefits of developing a Nature Ambition Statement to help guide your nature strategy. Focusing on the key elements of what a Nature Ambition Statement is, the article describes steps to take and provides links to good examples.     Did you know? Ireland’s Deposit Return Scheme (DRS) celebrated its first anniversary on 1 February. Some numbers: over 980 million containers collected near-50 percent reduction in the prevalence of plastic bottles and cans in litter 84 percent public participation with DRS 90 percent recognition of the Re-turn logo/brand €90,000 raised for the Return for Children charity initiative   Articles Tough choices must be made on the climate crisis (Irish Times) Climate Change & Biodiversity Loss: The Rising Risks Organisations Must Address (Climate Action for Associations) Sustainability reporting: building trust and credibility (ICEAW Insights) EU Omnibus: Investors warn against re-opening core sustainability legal texts (Responsible Investor) Ireland among list of almost all nations to miss UN deadline for new climate targets (The Journal) Revealed: The €9 billion fossil fuel footprint in Irish private pensions (Business Post)   Events Global Ethics Sustainability Standards Webinars, Webinar Series Alert: Understanding IESBA’s New Sustainability Standards The IESBA sustainability-related ethics and independence standards will establish global baseline standards for ethical sustainability reporting and assurance. These groundbreaking standards address greenwashing risks, other ethical responsibilities, and independence requirements for sustainability assurance. Join the IESBA Team in this free webinar series as they break down the IESSA (International Ethics Standards for Sustainability Assurance) and other key revisions to the Code.  Virtual, various times/dates Chartered Accountants Ireland, Women’s Mentoring Circle Event (ROI/NI) Take part in a unique gathering for women in the chartered accountancy profession, where connection and collaboration meet career development! This event provides a space to share successes and challenges, gain fresh perspectives, and explore practical solutions through peer mentoring. It’s an opportunity to strengthen your professional network, build relationships, and be part of a supportive and inspiring community. In person | Chartered Accountant House, 47/49 Pearse Street, Dublin 2 | 20 Feb, 18:00-20:00 | €10 (proceeds to charity)   SustainabilityWorks/IBEC Academy, CSRD Readiness Gain a clear understanding of the terms, standards, and processes involved in this one-day online course. The SustainabilityWorks team has hands-on experience delivering CSRD projects, ensuring you get practical insights and real-world knowledge. Virtual, 21 February, 09:30 - 16:30 A4S, Sustainability in Action Webinar: Management Information This interactive webinar, aimed at finance professionals, will provide practical insights on how to refocus management reporting and management information by introducing a more integrated approach. Information drives decisions – our speakers will show how considering social and environmental factors results in better information that drives better decisions. Virtual, 25 February, 16.00 GMT Mid South West Economic Engine, SME Big Breakfast Briefing: Reduce Energy Costs with Net Zero Action Hosted by BBC’s Louise Cullen, attendees at this event will gain exclusive insights from Invest NI, hear the real success stories from local businesses and learn how to be the Supplier of Choice in 2025. There will be insights from Invest NI’s Green Economy Team and a session on how to be the Supplier of Choice in 2025. The Carbonfit team will be on hand to help you sign up and get started. In person, Glenavon Hotel, Cookstown, BT80 8QS, 6 March, 09:00 - 14:00   Institute of Chartered Accountant England and Wales (ICEAW), 2025: ESG – how should the financial statements reflect sustainability? Gain a practical understanding of how to reflect ESG principles in financial reporting for your organisation. Virtual, 14 & 24 March 2025, 9.30-12.30     Chartered Accountants Ireland ESG Masterclass: Take your sustainability knowledge to the next level (ROI/NI) Masterclass designed for all professional accountants working in business or practice, wishing to consolidate their knowledge and understanding of the sustainability regulatory, reporting and assurance landscape. 9 April, 08:30 – 14.00, Virtual Chartered Accountants Ireland, The SME and SMP Sustainability Workshop A workshop for SMEs and small/medium accounting practices (SMPs) on how to get ahead of the sustainability curve. This interactive half-day session will focus on positive actions you can take to understand the ‘trickle-down’ effect of the Corporate Sustainability Reporting Directive ('CSRD’), green public procurement, access to sustainable finance, and how to make your practice more sustainable to save costs and respond to staff and client demands. Virtual, 23 May, 9.30- 12.30; €60 members; €75 non-members; 3 hours CPD points.     Sustainability Centre You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.    

Our Thriving Stories series dives into the real-life experiences of members in our profession and what they do to prioritise their wellbeing. Here, we hear from Rachel McCann, Director at Grant Thornton and chair of the Institute's Cork Society.  How do you prioritize your mental health, and what helps you manage stress? I try and take time out for me for 1 hour a day- I try a swim at the beach all year round 1-2 times a week followed by a beach sauna, do a strength class 3 times a week and for the really bad days I take a football down to the pitch and kick it around the place- always feel better after it!   How do you approach nutrition, and what are some of your favourite healthy meals or snacks?  I am making a more conscious effort for 2025- I do think as busy professionals we tend to grab and go. I spend a lot of time working between Cork, Kerry and Dublin and previously it was whatever came to hand. This year I am making more of an effort to meal prep on a Sunday so it is a case of just heating something up in the evening or taking lunch/breakfast with you- I have become a huge fan of overnight oats in the morning or also following Joe Wicks- he has very quick tasty recipes online. Who do you turn to for support when you’re feeling overwhelmed or struggling with your wellbeing?  Friends and family- great to have 2-3 people to be able to pick up the phone, have a rant and them to say are you finished now and make you laugh again. Also good to have someone point out the bigger picture- I do think we can stress on the smaller items and maybe sometimes looking at the bigger picture puts life in perspective.  How do you maintain a healthy work-life balance, especially during busy times?  Someone recently said the term work life integration to me and I actually think I’ll be stealing it- I think we all know what’s important outside of work and so we need to focus on ways of integrating those priorities into daily schedules- if its that you need to be gone by 5pm to watch a soccer match/school play well then maybe the trade is working through lunch or starting/finishing a bit later to make sure you don’t miss the important items. On the busier days I think it is about ensuring you block calendar time to eat and getting out even for 30 mins for fresh air and being selfish to make sure no one takes those slots.  In what ways do you think community involvement or social connections impact overall wellbeing?  I think it has a huge bearing- I play Mothers and Others football locally in Kerry and its great to go and meet people who are managing work, kids, elderly parents- all life stresses we all face. The best bit is you get to see no one has it all together all the time and sometimes it nice just to laugh about all the chaos while getting out in fresh air and improving fitness. Half the time I try to come up with an excuse not to go at 7pm but every time I do I come back in better form, motivated for the week ahead and more energised. 

In Irish news, the first Fiscal Monitor for 2025 has been published and we bring you details of an information campaign launched by Revenue for PAYE taxpayers. In UK news, senior HMRC representatives from the Making Tax Digital (MTD) team attended last week’s Practice News and HMRC is advising that ongoing industrial action by some of its staff has now been extended to 14 March 2025. In International news, the European Commission outlines its priorities on tax matters. Ireland 1. The Department of Finance and the Department of Public Expenditure and Reform have published the Fiscal Monitor for January 2025 which confirms an Exchequer surplus of €3.6 billion in January. 2. As part of a PAYE information campaign, Revenue has published statistics relating to 2024 tax return filings and are encouraging all PAYE taxpayers to finalise their tax position.    UK 3. The first Practice News webinar of 2025 was attended by senior HMRC representatives from the MTD team who spoke about how to get ready for MTD for income tax. 4.  HMRC is advising that industrial action by some of its staff which may impact specific helplines has now been extended to 14 March 2025. International 5. Read about the European Commission’s priorities on tax matters. 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.

Maintaining a sense of happiness and wellbeing can sometimes feel elusive especially when dealing with the general humdrum and stressors of daily life. One powerful way to enhance our happiness is by understanding the biochemical processes that play a critical role in how we feel. Serotonin, dopamine, oxytocin, and endorphins are often dubbed the happy hormones because they boost and regulate our mood. 1. Serotonin: The Mood Stabilizer Serotonin is often referred to as the “feel-good” neurotransmitter because of its impact on mood regulation. It is crucial in stabilising our mood, promoting feelings of calm, and preventing feelings of anxiety or depression. Often associated with a sense of wellbeing, serotonin is primarily produced in the brain, though a significant portion is found in the intestines. The presence of serotonin contributes to better sleep, appetite regulation, and overall emotional stability. When serotonin levels are balanced, individuals tend to experience less stress and anxiety, along with an overall sense of contentment and happiness. How to Boost Serotonin: Sunlight Exposure: Just 10–15 minutes of sunlight exposure can help stimulate serotonin production. Exercise: Regular physical activity, especially aerobic exercises like running or swimming, is shown to boost serotonin levels. Diet: Eating foods that contain tryptophan, an amino acid that the body converts into serotonin, can promote its production. Foods like turkey, eggs, nuts, and seeds are excellent sources. Mindfulness and Meditation: Mindfulness practices like meditation and yoga can stimulate serotonin production, enhancing emotional well-being. 2. Dopamine: The Reward and Motivation Hormone Dopamine is the brain’s reward chemical. It is released when we accomplish something rewarding, whether it’s something as small as enjoying a favourite treat or completing a long-term goal. Dopamine is essential for motivation, focus, and the pleasure we feel in achieving goals. Without dopamine, we would struggle to feel a sense of accomplishment or motivation to push forward. However, it is important to note that dopamine is also linked to addictive behaviours. While small, healthy doses of dopamine release contribute to happiness, an overabundance can lead to unhealthy habits. How to Boost Dopamine: Setting and Achieving Small Goals: Breaking larger goals into manageable tasks and celebrating each small success helps keep dopamine levels up. Exercise: Physical activity, especially high-intensity workouts, triggers dopamine release. Listening to Music: Engaging with music that you enjoy can trigger dopamine production, leading to a natural "high." Healthy Nutrition: Consuming foods rich in tyrosine (such as bananas, chicken, and avocado) can help boost dopamine levels. 3. Oxytocin: The Love and Connection Hormone Often referred to as the "love hormone," oxytocin is essential for bonding and forming social connections. It is released during moments of physical affection, such as hugging, touching, or even just being in the presence of loved ones. Oxytocin promotes feelings of trust, empathy, and connection, which are crucial for mental and emotional health. This hormone plays a vital role in childbirth and breastfeeding, helping to facilitate maternal bonding. It also aids in reducing stress and increasing feelings of contentment, warmth, and love. Oxytocin not only contributes to romantic relationships but also strengthens friendships and family bonds, making it a cornerstone of social wellbeing. How to Boost Oxytocin: Physical Touch: Simple actions like hugging, holding hands, or even a gentle pat on the back can trigger the release of oxytocin. Acts of Kindness: Helping others or receiving kindness can increase oxytocin levels, promoting a sense of connection and happiness. Social Interaction: Positive interactions with family and friends, engaging in meaningful conversations, or spending time with pets can stimulate oxytocin release. Sexual Intimacy: Physical intimacy with a partner is another powerful way to increase oxytocin levels. 4. Endorphins: The Pain Relief Hormones Endorphins are often called the body’s natural painkillers. These hormones are a response to pain or stress, but they also promote feelings of euphoria and happiness. Endorphins help reduce physical discomfort, alleviate stress, and combat feelings of anxiety or depression. They are primarily known for their ability to enhance mood by acting as natural pain relievers, offering a sense of wellbeing and relaxation. The release of endorphins not only combats pain but also produces a sense of pleasure and satisfaction. How to Boost Endorphins: Exercise: Physical activity, especially vigorous exercises like running, cycling, or dancing, triggers the release of endorphins. Laughter: Engaging in activities that make you laugh boosts endorphin production. Spicy Food: Consuming spicy foods that contain capsaicin, the compound responsible for heat, has been shown to trigger endorphin release. Music and Dance: Engaging with music that inspires joy and movement can activate endorphin production, leading to an uplifting emotional response. By incorporating lifestyle practices that promote the natural release of these hormones, we can create a positive feedback loop that supports mental, emotional, and physical health. Whether it’s through regular exercise, connecting with loved ones, practising mindfulness, or simply enjoying life’s little pleasures, nurturing these hormones can foster a sense of joy, satisfaction, and fulfilment. Understanding the power of these biochemical processes allows us to take proactive steps in cultivating happiness, helping us lead more balanced, fulfilling lives. Thrive is the Institute’s dedicated wellbeing hub which provides emotional and practical support to our members, students and their family members for life. Should you find yourself in a difficult situation, the team at Thrive can help steer you through life’s ups and downs. Talk to us today on mobile: (353) 86 024 3294 or email us.

From the Professional Accountancy team …..CCAB-I  has prepared Technical Alert TA01-2025  containing some pointers for firms to consider in their use of artificial intelligence (AI). All firms should be considering putting a policy in place whether it’s just to cover basic points such as if your trainees (or other employees) are permitted to use AI in the office or whether you need more extensive provisions. The pointers in our technical alert and links included in it may be of use to members.   This information is provided as resources and information only and nothing in these pages purports to provide professional advice or definitive legal interpretation(s) or opinion(s) on the applicable legislation or legal or other matters referred to in the pages. If the reader is in doubt on any matter in this complex area further legal or other advice must be obtained. While every reasonable care has been taken by the Institute in the preparation of these pages, we do not guarantee the accuracy or veracity of any resource, guidance, information or opinion, or the appropriateness, suitability or applicability of any practice or procedure contained therein. The Institute is not responsible for any errors or omissions or for the results obtained from the use of the resources or information contained in these pages.    

Revenue has updated the Tax and Duty Manual Company Charge to Income Tax on Loans to Participators. The updated manual includes a new introductory paragraph, further details on the operation of the provisions, and some additional examples.

Revenue has updated the Tax and Duty Manual VAT and Employer Income Tax/PRSI/USC/LPT – Direct Debit guidelines to reflect the ongoing direct debit modernisation project. Under phase one of this project, from January 2025, employers can no longer avail of a fixed direct debit option to pay their taxes. Liabilities can be settled instead by variable direct debit.

Revenue has published a new Tax and Duty Manual Split Year Residence which provides guidance on split year residence. The guidance reflects amendments to the claim rules introduced in Finance Act 2024. The new guide outlines split year treatment, its benefits and the relevant qualifying conditions. The changes introduced by Finance Act 2024 allow individuals to self-assess their eligibility for split year residence and claim the relief in their income tax Return for the relevant year.  These changes are referred to as the ‘Finance Act 2024 scheme (out of year claims)’. The manual provides guidance on claiming relief under this scheme and under ‘The Finance Act 1994 scheme (in-year claims)’. Illustrative examples of both schemes are included in the manual.