In this week’s Sustainability/ESG Bulletin you can find a link to our webinar ‘Why Nature Matters to Accountants’, news of the Just Transition Commission’s first report, Ireland’s need to build climate resilience, and the launch of new resources launched to support SMEs with energy renovations. Also covered is how businesses in Ireland and Northern Ireland view sustainability, the provisional agreement reached on CBAM in the EU, a study on the ‘massive’ returns on climate adaptation investments, the launch of an online tool designed to help SMEs maximize the benefits of incorporating sustainability into their strategy and business operations, and the usual articles, resources and events.
Chartered Accountants Ireland
Chartered Accountants Ireland has hosted a webinar on Why Nature Matters to Accountants, showing accountants how they can get on top of this business-critical issue. Watch back here: https://www.youtube.com/watch?v=n5sRUeGhBAs. Speakers included Dee Moran, Institute’s Head of Professional Accounting, Trinity’s Dr Catherine Farrell and Rosie Dunscombe, FCA and co-author of the Global Accounting Alliance’s Why Nature Matters to Accountants. Slides available via sustainability@charteredaccountants.ie
Ireland
Ireland must rapidly build climate resilience, Taoiseach warns
Taoiseach Michael Martin has warned that Ireland must rapidly build climate resilience as adapting to the escalating impacts of climate change becomes a central focus for the country. The Taoiseach was speaking at the National Economic Dialogue which is held annually and brings together representatives from across different groups in society to discuss the framing of economic and budgetary policy. With climate risks increasingly spanning all sectors of our economy, society, and environment, the Taoiseach stated: “Change is underway across our economy and society to realign ourselves for a low-carbon future. Decarbonisation, reducing emissions, is now at the heart of all our policies and sectors.”
Just Transition Commission’s first report calls for shared vision
The first report of Ireland’s Just Transition Commission has urged the Government to develop a ‘bold and forward-looking strategy’ that places just transition at the heart of national climate action. Key recommendations in the report, which published this week, include developing a clear, strategic vision for a just transition that moves beyond siloed or reactive approaches, and strengthening the governance of the just transition by integrating it into the annual climate policy cycle with clear targets and sectoral actions. The Just Transition Commission is independent advisory body established to advise the government on a fair and equitable transition to a climate-neutral economy.
Majority of businesses rank sustainability as an important day-to-day issue
New research carried out on behalf of the Department of Enterprise, Tourism and Employment has found that four in five businesses (83 percent) believe sustainability is important to them on a day-to-day basis. Many have already taken steps to become more sustainable, with 63 percent of the businesses surveyed having addressed their waste, 41 percent their water usage and nearly half (49 percent) having taken steps to address energy efficiency. Just over one in three – mostly the medium/larger SMEs – also have a written sustainability strategy in place. The research is part of a survey of over 300 SMEs to identify what factors motivate small and micro businesses to become more sustainable, with findings published on enterprise.gov.ie.
Green Public Procurement in Ireland Remanufactured Laptops Framework
The Office of Government Procurement (OGP) has published a case study on remanufactured laptops available for purchase for organisations through the BuyerZone of the OGP’s public procurement platform. The measure is part of the OGP’s commitment to offering value for money and contributing to the circular economy through its Remanufactured Laptops Framework established in 2024.
EV charging updates
Minister for Transport Darragh O’Brien has announced the sites of 53 new high-power recharging hubs to service the expanding electric vehicle (EV) fleet across Ireland’s national road network. An allocation of almost €8 million will be provided to support grants for recharging infrastructure at the selected sites, with chargers set to be in place by the end of this year. The announcement is part of a wider plan to build a reliable recharging network across the country, with the distance between recharging hubs to be 60km or less. Enterprises such as petrol/service station operators, car park owners, hotels, supermarkets/retail outlets, and others with publicly accessible sites, could apply through a competitive grant process for funding. The total allocation for this aspect is €7.9 million.
Separately, Minister O’Brien has announced that the 2025 Electric Small Public Service Vehicle (eSPSV25) Grant Scheme will re-open on Monday 23 June. Since its inception in 2018, the eSPSV Grant Scheme has facilitated over 3,200 SPSV operators to make the switch to electric vehicles.
Call for views on making Ireland’s transport system more resilient
The Department of Transport has invited public views on a plan which sets out how Ireland’s transport system can become more resilient to the effects of climate change. The consultation on the revised Transport Climate Change Sectoral Adaptation Plan (T-SAP II) invites feedback from anyone who uses, works in, or depends on Ireland’s transport system. Unlike other climate plans, which focus on climate change mitigation – reducing emissions – this plan focuses on adaptation, i.e. preparing for the changes that are already happening, like flooding and storms. The plan draws on updated science and data, and strong integration across sectors and regions, and the consultation and is open until Friday 4 July 2025.
Separately, the Climate Change Advisory Council (CCAC), has said that the transport sector, which saw emissions decrease by an estimated 1.3 percent last year, needs urgent government intervention to support sustained emissions reductions. It has reportedly called for a “comprehensive review of taxation in the transport sector” by the Department of Finance, including of carbon tax, distance-based charges, excise duty, fuel pricing motor tax and VRT, to completed by the end of the first carbon budget in 2025m and aligning with the polluter-pays principle. The CCAC is the independent body tasked with assessing and advising on how Ireland can achieve the transition to a climate-resilient, biodiversity-rich, environmentally sustainable and climate-neutral economy.
Cross-border commitment to the North-South Interconnector reaffirmed
Minister for Transport Darragh O’Brien has reaffirmed the Irish Government's commitment to the North-South Interconnector, speaking of a "clear and shared desire to advance [the] project due to the significant benefits it will deliver for consumers and businesses across the island”. Both Minister O’Brien, and Minister for the Economy, Caoimhe Archibald representing the Northern Ireland Executive, emphasised that electricity grid projects, such as the North-South Interconnector, are vital for improving energy affordability, enhancing energy security and reducing emissions across the island of Ireland. Commenting, Minister Archibald described energy decarbonisation as presenting “shared opportunities and challenges” and that by working together, both jurisdictions can deliver a net zero future with opportunities an opportunity for a fairer and more prosperous economy.
UK/Northern Ireland
Report notes decrease in Northern Ireland’s emissions
Northern Ireland’s 2022 greenhouse gas emissions reduced by 26 percent since 1990, according to the recently released 17th annual Northern Ireland Environmental Statistics Report. The report, published by the Department of Agriculture, Environment and Rural Affairs (DAERA), also found that the level of public concern about environmental issues was high in 2024/25, with 73 percent very or fairly concerned about the environment.
Report notes decrease percentage of electricity consumption generated from renewable sources in Northern Ireland
A report detailing the percentage of electricity consumption generated from renewable sources in Northern Ireland shows a decrease of 2.4 percentage points on the previous 12-month period (year ending March 2024). The report excludes microgeneration, non-export generating stations and any imported electricity derived from known or unknown renewable sources. Commenting, Steven Agnew, Director RenewableNI called on policy makers to prioritise the delivery of the new renewable electricity support scheme, commit to complete the North South Interconnector before 2030 and deliver an effective system for long duration energy storage. “What’s crucial to keep in mind is that not only is Northern Ireland obliged to reach 80% renewables by 2030 through the Climate Act, achieving this goal will bring significant rewards with it for our economy, the environment and consumers.”
FRC overhauls Investor Stewardship Code to focus on value creation, reducing burdens and enhanced engagement between market participants
The Financial Reporting Council (FRC) has published the UK Stewardship Code 2026 which aims to support long-term sustainable value creation while significantly reducing the reporting burden for signatories. The new Code, which currently has nearly 300 signatories who represent around £50 trillion in assets under management, will take effect from 1 January 2026. It includes an updated definition of stewardship as “responsible allocation, management and oversight of capital to create long-term sustainable value for clients and beneficiaries”. After the Code's introduction on 1 January 2026, a transition year will follow, during which no existing signatories will be removed from the signatory list following their 2026 application. The aim of this is to give signatories time to familiarise themselves with the Code's new format.
Sustainability and net zero intentions ‘not translating into action’
InterTradeIreland’s latest All-island Business Monitor survey has found that SMEs’ intentions around sustainability and net zero are not translating into action, and that companies do not have the time to focus on strategic priorities like skills development, sustainability, and competitiveness. Over half (55 percent) of survey respondents recognised the importance of sustainability and reaching net zero to their business, but only 17 percent currently have a plan in place, with a further 12 percent developing one. Among those without a net-zero strategy, eight in ten (86 percent) do not expect to have one within the next three years and four in ten (41 percent) cited the demands of daily operations as taking precedence over sustainability planning. The survey, which is the biggest of its type across the island, collects the views of 750 business owners and managers. It was conducted between 7 April and 9 of May, immediately after the announcement of new US trade tariffs.
Resources to support members in sustainable finance education
An article has been published jointly by the professional bodies represented by The Sustainable Finance Education Charter (SFEC) outlining various resources to support their members, and recommending future activities to build capacity across its members and to help accelerate action in embedding nature into financial decision-making. The Charter is the UK’s main policy mechanism to improve sustainability-related skills and expertise to support green and sustainable finance policy delivery. It is a partnership between 14 leading global professional bodies with more than 1 million members, Department for Energy Security and Net Zero (DESNZ), and the UK’s Green Finance Institute.
EUROPE
Provisional political agreement on CBAM proposal
Provisional political agreement has been reached between the European Parliament and the on the Commission proposal to simplify and strengthen the EU's carbon border adjustment mechanism (CBAM). The simplification seeks to provide cost-efficient compliance improvements to the CBAM regulation, without compromising its climate goals. The European Parliament and the Council must now formally adopt the package before it can enter into force. It will enter into force 20 days after its publication in the Official Journal of the EU.
WORLD
IFAC launches ‘The Small Business Sustainability Checklist’
The International Federation of Accountants (IFAC), in collaboration with the Edinburgh Group (EG), has launched a pioneering online tool designed to help small- and medium-sized enterprises (SMEs) maximize the benefits of incorporating sustainability into their strategy and business operations. Developed specifically for IFAC and EG members to provide to their own members, The Small Business Sustainability Checklist is an interactive tool that provides practical steps to future-proof businesses and boost sustainability practices. It is designed to be tailored by each business according to its industry sector, lifecycle, and products and services. According to IFAC’s press release states, the checklist “empowers accountants to position themselves as sustainability leaders within their firms while also guiding their clients toward their own sustainability goals.”
Building Capacity & an Effective Sustainability Reporting Ecosystem for SME
IFAC and others are hosting Building Capacity & an Effective Sustainability Reporting Ecosystem for SME a 45-minute fireside chat to mark UN Micro-, Small and Medium-sized Enterprises (MSME) Day on 25 June. Co-hosted by IFAC, OECD, The World Bank Centre for Financial and Sustainability Reporting Reform and UNCTAD, a panel of experts will explore the role of international organizations and the accountancy profession in building capacity within SMEs. The speakers will explore why building capacity for sustainability reporting is crucial for SMEs and how they can overcome common challenges—from navigating reporting requirements to accessing digital solutions and expert support.
Study finds climate adaptation investments yield “massive returns”
A study by the World Resources Institute has found that climate adaptation investments yield significant returns. The study, which analyzed 320 adaptation and resilience investments across 12 countries totaling $133 billion, found that every $1 invested in adaptation and resilience generates more than $10 in benefits over 10 years. Commenting, Sam Mugume Koojo, Co-Chair of the Coalition of Finance Ministers for Climate Action, said that “This research has pried open the lid on what resilience is truly worth — and even that first glimpse is staggering”. The study also reveals that over 50 percent of the documented benefits occur even if climate-related disasters do not happen.
Technical Round Up
(From our colleagues in Professional Accounting on 6 June)
Wim Bartels, Chair of Accountancy Europe’s Sustainability Policy Group and member of EFRAG’s Sustainability Reporting Board, spoke on behalf of Accountancy Europe at the European Parliament (EP) Legal Affairs Committee hearing on sustainability reporting obligations on 13 May. During this, he shared some of the early insights of the CSRD and ESRD based on the first year of implementation.
The International Sustainability Standards Board (ISSB) May 2025 update and podcast have been published.
The International Sustainability Standards Board (ISSB) has published the recording of its tenth 'Perspectives on sustainability disclosure' webinar. The webinar is titled ‘Governance of sustainability-related risks and opportunities’.
(From our colleagues in Professional Accounting on 20 June)
The IFRS Foundation is joining London Climate Action Week from 21–29 June 2025. This event will bring together key stakeholders, policymakers and international organisations.
The IFRS Foundation has published jurisdictional profiles providing transparency and evidencing progress towards adoption of ISSB Standards.
The IFRS Foundation has launched new e-learning modules to support companies in getting started with understanding the ISSB Standards. The modules include a mixture of written and visual content and interactive knowledge checks, designed to build foundational knowledge of the ISSB Standards.
Resources
New Resources Launched to Support SMEs with Energy Renovations
A set of new practical and accessible tools have been launched to help Irish SMEs on their energy renovation journey. The Business Energy Upgrade resources directly addresses barriers to SMEs reducing their energy use by providing practical guidance, financial tools, and real-world inspiration to act. The suite includes:
- A decision-making toolkit to guide businesses through the upgrade process
- A technical and financial analysis tool with data to support planning and investment decisions
- A financial handbook outlining available grants, tax supports, and loan options
- A basic starter guide for SMEs, including practical tips for beginning their energy upgrade journey
- A selection of case studies showcasing successful commercial building upgrades
The suite was created by The Irish Green Building Council (IGBC), in partnership with Dublin Chamber, Sustainability Works, the University of Galway, and the Society of Chartered Surveyors Ireland. The Business Energy Upgrade suite is part of the ENACT initiative, supported by the Sustainable Energy Authority of Ireland (SEAI). All resources are now freely available to download at https://constructinnovate.ie/enabling-commercial-retrofit/
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Presentations are now available from the webinar on Responsible Business initiatives: Sustainability, which took place in April 2025. The presentations cover Enterprise Ireland’s Sustainability Capability Development Supports, OECD Guidelines for Multinational Enterprises on Responsible Business Conduct (RBC), and the Implications of the Green Transition Directive.
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The June issue of Accountancy Europe’s Sustainability Update is now available, with the following highlights:
- European Commission seeks to review Sustainable Finance Disclosure Regulation
- ECB recommendations on the Omnibus
- IFAC global study on sustainability assurance
- Introduction of international standard on sustainability assurance (UK) 5000
- French transposition of Omnibus Stop-the-Clock directive
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Articles
Ireland ‘silent’ on watering down of European Union’s sustainability rules for companies (Irish Times)
Electricity grid ‘stretched’: EAI warns of missed targets without €2bn investment (Business Post)
Helena Morrissey: It’s time to reset DEI in the City (The Times – Subscriber)
Navigating audit’s future: AI, ESG and compliance (In the Black – CPA Australia)
Events
SustainabilityWorks, Guaranteed Irish, Meeting Customer Expectations on Sustainability: Tools and Tactics for SMEs
SMEs increasingly need to demonstrate their sustainability credentials in tender submissions and sales pitches to large corporate customers. SustainabilityWorks are teaming up with Guaranteed Irish for a webinar to provide SMEs with practical advice and tips.
Virtual, Tuesday, 24 June 1:00-1:30 PM
UN Sustainable Development Solutions Network (SDSN), Sustainable Development Report (SDR) 2025 launch
The UN SDSN will launch its report which this year has a unique focus on reforming the Global Financial Architecture (GFA) and scaling up global financing flows to support the SDGs through 2030 and beyond. The launch event will present key findings from the SDR 2025, including the updated SDG Index and Dashboards, and will feature insights from high-level leaders and experts on transforming the GFA to better serve sustainable development.
Virtual, Tuesday, 24 June, 2024, 8:00 AM to 9:45 AM EST.
Enterprise Northern Ireland, Funding for Growth: Transitioning Your Business to Net Zero
The third session in a three-part in-person series for Micro and Small Businesses, which also includes events on Accessing Debt Finance and Grant & Equity Finance, this session will cover the importance of net-zero in future-proofing your business, support available to help finance your transition to net-zero, and how small businesses are leading the charge to net-zero
In person, Thursday 26 June 2025, 9:30am to 1:30pm, Venue: Craigavon Industrial Development Organisation, Portadown, Cost: Free
Grant Thornton, CSRD – After the Omnibus Dust Has Settled
Expert panel discussion on implications of Omnibus Simplification Package proposal on changes to 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, 7 July 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...)
Webinar, Wednesday 9 July, 10.00-11.30.
Sustainability Centre
You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.
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