In this week’s Sustainability/ESG Bulletin read about sustainability in the new Programme for Government, planned Government climate and environmental spending 2025, and Responsible Business resources issued by DETE. Also covered is a survey showing a growth in confidence in sustainability governance, a ‘ticking clock’ for investors to invest in resilience, and the publication of the World Economic Forum’s Global Risks Report 2025, as well as the usual articles and upcoming events.
Ireland news
Sustainability in the Programme for Government
The Institute welcomes the continued commitment in Ireland’s published draft Programme for Government to accelerate Ireland’s progress towards achieving the 17 Sustainable Development Goals (SDGs). While much needs to be done, the focus on further development of the sustainable finance sector, renewable energy, upskilling and training, and the provision of supports for industry – including supports for small businesses – to decarbonise and embrace a circular economy, are welcome, as is the commitment to the continued use of carbon tax revenues to fund social welfare measures, among others.
Planned Government climate and environmental spending for 2025
A report published by the Department of Public Expenditure, NDP Delivery & Reform (DPENDR) on planned climate and environmental spending in 2025 has found that nearly €7 billion of expenditure allocated will have a “probable favourable impact” on climate and environmental criteria. This includes funding for activities targeting emissions-reductions (e.g. retrofitting, investment in public transport, implementing flood-risk-management programmes, biodiversity/ecosystem-protection programmes and more). The report found, however, that just over €2 billion of planned expenditure will have a “probable unfavourable impact” reportedly representing an increase of 40% in 2025 on 2024 figures. This includes funding on measures such as fossil fuel subsidies or other potentially harmful supports, as well as emissions-intensive activities in transport, agriculture and industry.
CSO – Ireland 2024: The Year in Numbers
Almost half (46%) of all new private cars licensed up to November 2024 were electric, plug-in hybrid, or hybrid, according to figures from the CSO’s Ireland 2024: The Year in Numbers. The figures also reveal that more than 4,000 Business Energy Rating (BER) audits were published in the first nine months of 2024 for non-domestic or commercial buildings, of which the most energy-efficient building types were found to be in schools and colleges. Separately, the Sustainable Energy Authority of Ireland (SEAI)’s end of year review shows a record year of progress for SEAI in 2024, with almost €616 million invested in projects across homes, communities, businesses, and public sector organisations. This 13% increase on 2023 activity included over 3,500 businesses being approved for more than €62 million in grant support, as well as the launch of a new, rapid approval Business Energy Upgrade Scheme.
DETE resources on Responsible Business initiatives: Environment
Presentations from the Department of Enterprise, Trade and Employment (DETE) on responsible business and the environment held on 6 November 2024 are now available on the Department’s website. These include:
- Creating a Nature Positive Economy for Ireland – Lucy Gaffney, Executive Director, Business for Biodiversity Ireland
- Emissions Trading and Carbon Border Adjustment Mechanism by Dr Maria Martin Climate Change Programme, EPA
- Ecodesign for Sustainable Products Regulation, Aisling McCarthy, Climate Programmes Unit, DETE
- OECD Guidelines for Multinational Enterprises on Responsible Business Conduct
Northern Ireland/UK news
Confidence grows in sustainability governance
An annual survey of directors and executives from around the world conducted by INSEAD Business School (the non-profit business school with locations in Europe, Asia, the Middle East and North America) has found that confidence in sustainability governance had grown significantly year-on-year. In an article published last week, ICAEW Insights examined whether a sustainability committee might be a useful addition to the board.
“The clock is ticking” for investors, says CISL
The Cambridge Institute for Sustainability Leadership (CISL) has published a guide for investors to build climate resilience within their portfolios and invest in systemic resilience through engagement with the broader ecosystem. Commenting on the publication, titled Investing in Tomorrow: A Guide to Building Climate-Resilient Investment Portfolios, Director at the Centre for Sustainable Finance, Dr Nina Seega said “The clock is ticking — investors face a critical choice: act now to safeguard portfolios and invest in resilience, or risk the future of both their assets and the global ecosystem. As climate risks intensify, this guide offers a clear path to build resilience and drive systemic change for a sustainable, adaptive future.”
World news
Global Risks Report 2025 publishes
The World Economic Forum has published its Global Risks Report 2025, listing ‘State-based armed conflict’ as the top risk likely to present a material crisis on a global scale in 2025.
‘Extreme weather events’, ‘Geoeconomic confrontation’, ‘Misinformation and disinformation’ and ‘Societal polarization’ remain top short-term risks, with ‘Economic downturn’ climbing up from tenth place in 2024 to sixth place this year.
Over the longer-term (10 years) the top four risks identified are: Extreme Weather Events, Biodiversity loss and ecosystem collapse, Critical change to Earth systems, and Natural resource shortages.
The report, which presents the findings of the Global Risks Perception Survey 2024- 2025 (GRPS), captures insights from over 900 experts worldwide and provides six in-depth analyses of selected risk themes.
Did you know…
…you can now ‘bulk return’ bottles and cans in Ireland through the Deposit-Return Scheme? Newcastle Services Station in Dublin has Ireland’s first Bulk Feed Recycling Machine which lets users recycle hundreds of containers in seconds - no more feeding them one by one. (TikTok)
Articles
- IOB appoint Diarmuid Murphy as Director of Sustainability and International Markets (Business Plus)
- Insuring against climate change: An interview with Brian O’Neill, Head of Communications, Sponsorship, Sustainability at Aviva Ireland (Business & Finance)
- High Court rules An Bord Pleanála must prioritise climate law in wind farm case likely to affect all public bodies (Irish Independent)
- A4S unveils guide on making business case for nature (ICAEW)
- Greenwashing and sustainability assurance: a review and call for future research (Journal of Accounting Literature
Events
TEKenable Ltd and the EU Commission, CSRD Data Readiness Training
This training session, organised in collaboration with TEKenable Ltd and the EU Commission offers insights on best practices, tools to improve your sustainability efforts, CSRD compliance, and more.
Virtual, 24 January 2025, 13:00 - 14:30 CET
Business in the Community Northern Ireland From Awareness to Action: Building Disability Inclusive Workplaces
First of a new series of monthly online sessions aiming to support businesses in creating more diverse and inclusive workplaces
Tuesday 28 January, 10:00 – 10:45am.
Chartered Accountants Worldwide, Difference Makers Discuss: Resilience in the Chartered Accountant Accountancy profession
Virtual, 30 January, 18.00 GMT
Jobs
Trinity College Dublin seeks a researcher/project manager for Ecosystem Accounting project (Job details)
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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