Monday at COP28 was both Finance Day and Gender Equality Day, with discussions on financing gender-responsive just transition and climate action. As Razan Khalifa Al Mubarak, UN Climate Change High-Level Champion said, “Climate change is not gender neutral. Women make up the majority of the world’s poor and despite and maybe because of this women and girls are at the forefront of climate action.” Some highlights: The Gender-Responsive Just Transitions & Climate Action Partnership was unveiled and endorsed by 60 countries contained a three-year package of measures to address the disproportionate impact of climate-related job loss on women.   A report titled "Feminist Climate Justice: A Framework for Action", was launched by UN Women. The report identified the climate crisis as threatening progress on gender equality and human rights, and hindering the achievement of the Sustainable Development Goals. The report describes how to achieve feminist climate justice and provides practical guidance on what countries need to do to transition to low-emission climate-resilient economies that, while recognizing the leadership of women, girls, and gender-diverse people in driving the change that is so urgently needed.   Hillary Clinton said in an interview that the absence of women in climate talks is a major worry (The Independent) Find more news on the global climate summit our our COP28 page on Chartered Accountants Ireland's sustainability centre. 

"Finance is the great enabler of climate action" This was the message of UN Climate Change Executive Secretary Simon Stiell in a speech at a Green Climate Fund event today “Scaling up Access and Impact”.  And it is a key message of this year’s COP, at which a record number of financial executives are attending. Many may be drawn to what Nikita Singhal, co-head of sustainable investment & ESG at Lazard Asset Management, describes as possibly “the greatest alpha-generation or investment-return” in a long time. Singhal  was speaking at the Bloomberg Business Forum at COP28, and was one of several investors who see opportunities for investment returns in action on the twin crises of climate change and biodiversity destruction. “Let's be clear,” said another such investor, Prudential Plc Chair Shriti Vadera, who reminded the Forum “The private sector only does things that are commercial and create a commercial return: they are to preserve the capital of their customers, savers, pensioners and depositors.” Highlights Chair of the IFRS Foundation Trustees, Erkki Liikanen addressed COP28 and reflected on progress since the IFRS Foundation announced the decision to establish the International Sustainability Standards Board at COP26 in 2021.   Export credit agencies, supporting a combined estimated US$120 billion in global trade in 2022, have formed a net-zero alliance. The UN-convened Net-Zero Export Credit Agencies Alliance will be the first net-zero finance alliance comprising public finance institutions. “Public finance has been the missing piece in the net-zero financial landscape,” said Inger Andersen, Executive Director of UNEP. “Export Credit Agencies are in a strong position to deliver more sustainable global trade and to complement the work already being undertaken by the private finance sector”.   Climate Trace the non-profit project has released data “of unprecedented granularity” that shows how countries have been dramatically under-reporting their greenhouse gas emissions;   An 18-month collaboration between leading climate researchers across more than 20 nations has produced a report titled 10 New Insights in Climate Science 2023/2024. The report aims to help inform policy implementation at COP28 and beyond. It warns that humans will increasingly be unable to live in and move from/to places where climate risks continue to rise, and also warns of compound risks which will amplify the climate crisis and increase in uncertainty. Podcast Tripling renewables is one of the goals under discussion at COP28. Find out where more investments are needed and why decarbonizing energy is easier than you think. (Zero)  

Like previous global climate summits, days 1 and 2 of this COP saw global leaders, including Taoiseach Leo Varadkar, delivering speeches to the summit. As Environment and Science Editor Kevin O’Sullivan , writes in the COP28 special edition of the Irish Times Sunday ‘The game of “down or out” will surface repeatedly [at this year’s climate summit]. Should the world “phase out” what’s known as “unabated” oil and gas — that’s when fossil fuels are burned without technologies to capture their greenhouse gases — or should they just be “phased down”?’ Saturday Coinciding with Leaders Days was the newly launched two-day long Business & Philanthropy Climate Forum (BPCF). This multi-stakeholder-engagement platform is the first dedicated platform for the private sector and philanthropy to be included in the COP process. It convened over 1,300 global business leaders and philanthropists, and saw discussions on topics including carbon pricing, renewables, green economy programmes, commitments on nature, the role of media in climate change and AI’s impact on climate change. At the BPCF, three organizations – Green Climate Fund, Allied Climate Partners, and Allianz Global Investors – came together to mobilise $5 billion in collective philanthropic, public and private funding to unlock long-term capital of $20 billion to advance climate and nature action. Initiatives announced included  the new Climate Solutions investment platform, announced by Rishi Kapoor, co-CEO of Investcorp, which targets circa $750 million of growth capital investments to help scale companies that provide products, services and technologies to support decarbonization and address the impacts of climate change globally. Separately a pact, sponsored by COP28 President Sultan Al Jaber, was signed up to by 50 oil and gas companies. The Oil and Gas Decarbonization Charter commits signatories to cutting greenhouse gas emissions from their operations and slashing methane releases to near-zero by the end of the decade. The charter is reportedly one of COP28’s benchmark achievements for Al Jaber, himself the head of one of the world’s largest oil producers (ADNOC). Signatories to the charter represent nearly 40 percent of global oil production, and for 31 of those companies it was their first time making such a commitment to reach net-zero methane. Of the 50 companies that signed up, 60 percent of them were National Oil Companies, the largest-ever number to commit to a decarbonization initiative. The Charter was launched alongside another key initiative, the Global Decarbonization Accelerator (GDA). This initiative is focused on three key pillars: rapidly scaling the energy system of tomorrow decarbonizing the energy system of today and targeting methane and other non-CO2 greenhouse gases. The Charter has attracted criticism, including from UN Secretary-General António Guterres, however, because none of the companies have agreed to reduce oil and gas production, and that the Charter “says nothing about eliminating emissions from fossil fuel consumption”. Also, while signatories will have to submit a plan to meet the targets by 2025, the targets themselves are not binding. Defending the pact, Al Jaber argued that oil and gas will remain part of the energy system for decades to come even as fossil fuels are phased out, and they must be made clean as possible. In a widely supported initiatives, over 110 governments also pledged to triple the world's renewable energy capacity by 2030, as a route to cut the share of fossil fuels in the world's energy production. Also announced on Saturday was a collaboration by the International Energy Agency, Environmental Defense Fund, the UN Environment Programme, the International Methane Emission Observatory and RMI, with support from Bloomberg Philanthropies. Data from the program — including surveillance by the MethaneSAT satellite set to launch next year — is meant to supply governments, and the public and others with information about emissions that can be used to hold companies accountable. Sunday – Health Day Health has become a major focus of the climate summit: extreme weather has been linked to the spread of disease – including spikes in infectious diseases, like cholera and malaria, due to floods caused by climate change – but also cardiovascular-related deaths due to unusually high temperatures (reportedly expected to nearly triple in the US by mid-century as climate change raises the frequency of very hot days), pollution and even fears about ancient outbreaks coming back to life from thawing Siberian permafrost (which also poses risks of release billions of tonnes of the extremely potent greenhouse gas methane into the atmosphere). Sunday was Health Day at COP28 with 123 countries backing the ‘COP28 UAE Declaration on Climate and Health’. This declaration aims “to place health at the heart of climate action and accelerate the development of climate-resilient, sustainable and equitable health systems”. Included in set of finance commitments on climate and health were commitments of $300 million commitment by the Global Fund to prepare health systems, and £54 million from the UK government. New initiatives were also announced to meet climate and biodiversity goals. $1.7 billion in nature conservation finance was unveiled, alongside a pledge by host country, the UAE, to contribute $100 of new finance for nature-climate projects. Other national and regional investment plans and partnerships were announced, focusing on nature-climate action to deliver on the Paris Agreement and the recently adopted Kunming-Montreal Global Biodiversity Framework. These included: $250 million new funding under the Ocean Resilience Climate Alliance (ORCA); three forest finance packages, and the Nature Finance Hub, a new initiative committing to mobilize $1 billion from development partners, with the intention of mobilizing a further $2 billion in additional private finance capital by 2030 into nature-focused climate projects. Addressing nature-loss can reportedly save $104 billion in adaptation costs and has the potential to provide upwards of 30 percent of the CO2 mitigation (i.e. reduction) action needed by 2030. As approximately 50 percent of global GDP is directly or indirectly dependent on nature and other ecosystem services, the conservation and restoration of natural ecosystems supports economic prosperity, with the potential to create nearly 395 billion more jobs and to protect 1 billion people whose livelihoods are directly dependent on nature.  Articles Hopeful signs emerging in the serious business of climate talks (Irish Times) UAE COP28 guest list led by bankers, lobbyists — and housekeeping (Financial Times)  

Climate finance was expected to be a major agenda item for this COP, so it comes as no surprise to find it dominating coverage of this summit so far. Often described as the ‘master key’ needed to unlock climate action, climate finance is a central focus area of the COP presidency’s plan of action to deliver on the pillars of the Paris Agreement. These four focus areas are: fast-tracking the energy transition fixing climate finance putting nature, people, lives and livelihoods at the heart of climate action underpinning everything with full inclusivity. In his opening speech UN Climate Change Executive Secretary Simon Stiell laid out a vision for the next two years and what is expected of countries, i.e. “every single commitment – on finance, adaptation, and mitigation – has to be in line with a 1.5 degree world”. UK’s King Charles III used his opening speech  to appeal to countries to unlock more capital for the energy transition and UN Chief Antonio Gutérres warned that "Earth’s vital signs are failing", before urging a faster transition to renewable energy. A new Loss and Damage Fund was established on the first day of COP (30 November) which will aim to keep up with the rising costs caused by extreme weather and slow-onset disasters such as sea level rise, ocean acidification and melting glaciers. The cost of loss and damage is estimated to be over $400bn annually. The initial funding for the Loss and Damage fund is close to US$429m, with $245m coming from the EU, including $100m pledged by Germany, which was matched by a pledge of $100 million from the UAE and $75 million from the UK. UAE President Mohammed bin Zayed Al Nahyan subsequently announced a $30bn fund for "global climate solutions" to be put into a climate finance vehicle called Alterra. The US has pledged $17.5 million, and Japan $10 million. Agriculture and food also dominated discussions. COP28 President Sultan Al Jaber announced a new major declaration on the future of food which some 134 countries have signed up to, including major food producers and consumers. The first of three high-level events focusing on the global stocktake also got underway today, focusing first on adaptation. Delegates are expected to discuss how the stocktake’s outcome can bolster efforts for countries and communities to better adapt to the impacts of climate change.

In this week’s Sustainability/ESG bulletin, read about Chartered Accountants Ireland’s coverage of COP28. Also covered are CSO figures on environmental subsidies, sustainability in ISME’s ‘Shop Local’ campaign, Ireland’s progress towards EU recycling targets, a Net Zero Accelerator Program announced for Northern Ireland, and a consultation on the UK Climate Change Agreements scheme. Also covered are sustainability developments in Europe, a new report into the role of the CFO and finance function in the climate transition, and the usual articles, podcasts, videos and upcoming events.   COP28 - the global climate summit   The United Nations’ annual climate change conference, COP28, began on Thursday 30 November in Dubai. Chartered Accountants Ireland has compiled useful resources about it on our COP28 page. We will publish a daily update and weekly round-up from the global summit.  White Paper on Enterprise Update Report: H1 2023  The Department of Enterprise, Trade and Employment has issued the first update report for the White Paper on Enterprise detailing progress made on the implementation of the White Paper during the first six months of 2023. This White Paper was published in December 2022, and set out Ireland’s medium- to long-term industrial strategy, with the vision for Irish-based enterprise to succeed and deliver rewarding jobs and livelihoods by increasing their sustainability, innovation, and productivity. Among other things, carbon abatement has now been integrated into the Oversight and Performance Delivery Agreements of Enterprise Ireland and IDA Ireland; work is underway on the development of a national strategy for offshore wind, with stakeholder groups established and a broad outline agreed; and efforts towards a more circular economy have progressed, including through the launch of the Food Waste Charter 2.0 under the EPA.  Environmental Subsidies and Similar Transfers 2022 – CSO   Figures published by the Central Statistics Office (CSO) in Ireland indicate that Environmental Subsidies and Similar Transfers figures for 2022 were €1.6 billion, an increase of €105 million, or 7 percent, when compared with 2021. Climate-related subsidies reached their highest value in current prices since 2000 at €396 million in 2022, up 6 percent on 2021. The increase in environmental subsidies in 2022 was mainly due to increases in funding for energy efficiency retrofitting schemes and wastewater infrastructure, which outweighed decreases in support for production of energy from renewable sources and protection of biodiversity. Commenting, Clare O'Hara, Statistician in the CSO’s Environment and Climate Division, said that capital transfers such as investment grants made up 56 percent of environmental transfers paid in 2022, while current transfers were 43 percent of the total and tax abatements, such as Vehicle Registration Tax relief on electric vehicles, accounted for the remainder.   Sustainability and ISME’s ‘Shop Local’ Campaign    The Irish SME association, ISME, has created two online portals to launch its 2023 Shop Local campaign, one for consumers and one for businesses. The campaign aims to, among other things, support the local community, reduce carbon emissions and transport costs, and promote goods and services that are sustainable and traceable. Businesses can access a directory of B2B products and services via the portal, such as corporate gifts, legal and financial services, IT and marketing, transport, training and more.  Report finds Ireland off track to meet key EU recycling targets  A report published this week by the Environmental Protection Agency (EPA) has found that Ireland’s waste generation levels are continuing to rise. Figures in the Circular Economy and Waste Statistics Highlights Report 2021 also indicate that Ireland is failing to make sufficient inroads towards key EU recycling targets that apply from 2025 onwards. To address this, the report state that Ireland must improve waste prevention, roll-out a brown bin service for organic waste to all customers, improve waste segregation by businesses and householders, reduce reliance on vulnerable export markets for waste, and fully implement Ireland’s Circular Economy Plan.   Net Zero Accelerator Programme announced for Northern Ireland   Northern Ireland’s Department of Agriculture, Environment and Rural Affairs (DAERA) has announced it will partner with Digital Catapult Northern Ireland to support the launch of their Tenfold NetZero Accelerator Programme. The programme aims to help in the delivery of greenhouse gas (GHG) emissions reductions locally as required under the Climate Change (Northern Ireland) 2022 Act, and so contribute to the UK Government’s target of zero carbon emissions by 2050. The programme, the first of its kind in the UK, will offer local business the opportunity to access the UK’s technology community to assist on their journey, and is a one-year pilot open to business in all sectors for which DAERA has policy responsibilities. Digital Catapult is now seeking to recruit up to six industry partners with whom they will work to scope and define a specific business challenge they face in reducing GHG emissions.   Support measures for Northern Ireland businesses impacted by floods  Several support measures have been announced to help businesses in Northern Ireland impacted by recent flooding. The support measures include rates relief for flooded business premises and one-off grant payments of £7,500 for affected businesses to assist with the immediate response, clean-up costs, and to make properties more resilient to future floods. It is estimated that up to 200 businesses will be eligible for the grants, which will be administered by the local council areas affected.  £60 million joint funding for research into food sustainability and climate change  £60 million in joint funding for the Co-Centres programme has been announced this week to bring academics, industry and policymakers across the Irish government, UK government and Northern Ireland Executive closer together, to work on food sustainability and tackling climate change. The programme is funded over six years, with up to €40 million from Science Foundation Ireland (SFI), up to £17 million from Northern Ireland’s Department of Agriculture, Environment and Rural Affairs (DAERA) and up to £12 million through UK Research and Innovation (UKRI), and is co-funded by industry. The two new Co-Centres will formally commence activities on 1 January 2024, and will be funded to 2030.  UK launches consultation on new Climate Change Agreements scheme  The UK’s Department for Energy Security and Net Zero (DESNZ) has launched a consultation seeking views on proposals for a new six-year Climate Change Agreements scheme, to begin in 2025. The voluntary Climate Change Agreement (CCA) scheme, established in 2001, serves the dual purpose of making energy and carbon savings through energy efficiency targets while also helping maintain competitiveness by reducing energy costs in eligible industrial sectors. It does this by providing a significant discount to participating businesses on the Climate Change Levy (CCL) paid. The new scheme would add three new target periods running from 2025 to 2030, resulting in three certification periods running to 31 March 2033, as well as providing further reductions in the Climate Change Levy for eligible participants. Closing date for responses to the consultation is Wednesday 14 February 2024.   Sustainability Development in Europe   The European Commission has announced an Action Plan to make sure electricity grids will operate more efficiently and will be rolled out further and faster. Electricity consumption in the EU is expected to increase by around 60 percent between now and 2030, and interconnected and stable energy networks are key to enabling the green transition. The Action Plan aims to address the main challenges in expanding, digitalising and better using EU electricity transmission and distribution grids.   Separately, the EU and Greenland have also signed a strategic partnership on sustainable raw materials value chains. 25 of the 34 critical raw materials identified by the Commission as strategically important for Europe's industry and the green transition can be found in Greenland. The signature of the Memorandum of Understanding will contribute to the development of sustainable projects along the raw materials value chains, and to the deployment of infrastructure required to develop them.  The role of the CFO and finance function in the climate transition  Businesses are integral to the successful transition to a low carbon economy and society. However, a report published this week has found that nearly half of businesses surveyed have no carbon emissions plan, and of those, 70 percent have no intention of developing one. The report, The role of the CFO and finance function in the climate transition: driving value and sustainability, is the result of research by Association of Chartered Accountants (ACCA), the International Federation of Accountants (IFAC) and PwC and is based on a survey of 1,000 senior finance professionals around the world. Speaking about the report, IFAC’s President Asmaa Resmouk said: “The expertise of accounting and finance professionals in combatting climate change is absolutely essential if we are to make the progress the planet so desperately needs. This report corroborates IFAC’s prior research into corporate disclosures on emissions targets and transition plans for achieving them. Companies need to improve the decision-usefulness of their transition plans and how they communicate them to stakeholders.”   In case you missed it   At Climate Finance Week Ireland 2023 Chartered Accountants Ireland’s event ‘You’re in Scope because They’re in Scope’ demonstrated the impact of the Corporate Sustainability Reporting Directive (CSRD) on value chains in Ireland, regardless of whether companies – such as SMEs – are directly in scope of the new Directive. Watch back here  Articles  Ageism in the workplace is proving costly for business (Irish Times)  Global tangle of climate disclosure rules risks causing ‘reporting fatigue’ (Financial Times)  Ireland ranked 12th most attractive market for green investors (Irish Times)  Accountants must redouble net zero efforts, A4S warns (ICAEW)  Climate risk analysis must be part of the audit process (Accountancy Age)  We have to balance outrage with optimism, says UN’s former climate chief (The Guardian)  Resources  5 reasons why sustainability matters for SMEs: The sustainable transition is a collective effort and a matter for society as a whole. SMEs, as the backbone of Europe’s economy, also have a key role to play. The transition poses challenges, but also offers opportunities. This paper details 5 reasons for why SMEs should not wait to start transitioning to more sustainable business models. Written in collaboration with Ecopreneur.eu – the European Sustainable Business Federation, and supported by the European Association of Co-operative Banks (EACB).  Watch   Climate correspondent George Lee’s summary of progress at COP28 for RTÉ1 (RTÉ Player)   Listen   An inspirating and energising interview with climate diplomat Christiana Figueres (On Being)  Upcoming Events   Accounting for Sustainability (A4S) at COP28  A4S, which aims to inspire action by finance leaders to drive a fundamental shift towards resilient business models and a sustainable economy, will bring the voice of the finance and accounting community to COP28 through a series of in-person and virtual events. Their first event is on 5 December. Find out more here.  Innovate UK's showcase for climate tech event in Northern Ireland  Innovate UK is delivering a series of 18 'showcase for climate tech' events across the UK until September 2025. Each event focuses on a specific net zero theme or technology area. The Northern Ireland event, run in partnership with Business in the Community NI, will take place in Belfast on 6 December 2023 and will focus on digital solutions for net zero.  In person: 6 December, Various Locations (See event listings)  DETE, Building Better Businesses   During 2023, the Department of Enterprise, Trade and Employment (DETE) has run a series of free Building Better Business events across the country to help businesses navigate the green journey and boost business performance through digital transformation.   In person: 7 December, The Convention Centre Dublin, 8.30am – 1.30pm.   Chartered Accountants Ireland CPD Blitz 2023- Dublin: Face to Face  Chartered Accountants Ireland’s 2023 CPD Blitz series offers 10 CPD hours each and provides the latest updates in Financial Reporting, Sustainability Reporting, Taxation, and UK Company Law. The Sustainability Reporting Update will be given by Catherine Duggan, Head of Sustainability, Financial Services Advisory, Grant Thornton and Dr Louise Gorman, Trinity College Dublin. Get up to date with the latest developments in sustainability reporting, including reporting standards internationally, and insights into developing and implementing necessary reporting systems. Emerging assurance considerations will also be considered along with the future evolution of the sustainability reporting landscape.  In person: 7 December, 9:30-1:30pm, Chartered Accountant House, Dublin.  Chartered Accountants Ireland CPD Blitz 2023- Dublin: Face to Face  Chartered Accountants Ireland’s 2023 CPD Blitz series offers 10 CPD hours each and provides the latest updates in Financial Reporting, Sustainability Reporting, Taxation, and UK Company Law. Sustainability Reporting Update will be given by Dr Louise Gorman, Trinity College Dublin.  In person: 7 December, 9:30-1:30pm, Chartered Accountant House, Dublin.  Accountancy Europe, ESRS Webinar   Co-hosted by Accountancy Europe and EFRAG, this event aims to assist stakeholders in the implementation of ESRS under CSRD.  Webinar: 12 December, 10:00 - 12:00 (Brussels time)  Network for Chartered Accountants working on ESG projects  Are you a Chartered Accountant working in ESG or working on ESG-related projects? Would you like an opportunity to engage with other Chartered Accountants working in this space to share insights, challenges and opportunities?  Chartered Accountants Ireland now has a network to allow members working in sustainability/ESG to meet and discuss all matters of interest re ESG and accounting.  3rd or 4th Wednesday of every month  Next: 24 January 2023   In person: Time and location tbc  If you would like to attend please email sustainability@charteredaccountants.ie  You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre. 

Today saw leaders from over 160 countries attend the opening of the 28th Conference of Parties, ‘COP’ in Dubai. The United Nation’s COP, or ‘Conference of the Parties’, is the most significant event on the global climate calendar. Attended by the 197 countries that signed the United Nations' Framework Convention on Climate Change (UNFCCC), the summit aims to monitor the world’s action to combat dangerous climate change. While the conference can come in for criticism as ‘talking shops’, previous COPs have led to momentous agreements. The most significant of those was the Paris Agreement in 2015.  This Agreement challenged the world to keep dangerous global warming to a level of 1.5° above pre-industrial levels. In 2021, at the Glasgow COP, the International Sustainability Standards Boards was announced. Under the auspices of the International Federation of Reporting Standards this board is now creating global standards for the reporting of comparable sustainability information by companies. 2021 also saw the formation of the Glasgow Financial Alliance for Net Zero (GFANZ), a global coalition of leading financial institutions committed to accelerating the decarbonization of the economy. Last year, at COP27 in Egypt, a new loss and damage fund was set up for those countries most severely impacted by the effects of climate change (floods, drought, desertification, and land loss due to rising sea-levels). This year’s COP – COP28 – will take place over two weeks from 30 November. It begins with two days of talks among global leaders, followed by negotiations between representatives from over 190 countries.  It is the year of the ‘global stocktake’, required under the Paris Agreement to assess progress made since 2015 and show what needs to be done to address gaps by 2030. And the need for an effective COP has never been greater.  2023 saw record temperature rises, a worsening of extreme weather events and unprecedented global emissions. However, the hosting of COP in Dubia this year has led to controversy. Dubia’s economy is heavily dependent on the exploitation of fossil fuels. The President of this COP, Sultan Al Jaber, is also chief executive of Abu Dhabi National Oil Company (ADNOC), the world’s 12th largest oil company by production. Reports have emerged of fossil fuel companies and lobbyists planning to use the event to agree side deals about increasing fossil fuel production. This COP is also taking place against the backdrop of both the Israel-Gaza conflict and the ongoing invasion of Ukraine. What to expect at COP this year COPs generally open with a ceremonial meeting, followed by a leaders’ summit.  This year the opening address will be given by King Charles in place of Pope Francis, who can no longer attend due to illness. Following this, will be days of world leaders speaking about either their experiences of climate change and/or their planned or intended actions. The world’s biggest emitters, the US and China, will be represented by their climate envoys: the US by John Kerry and China by Xie Zhenhua. Ireland is also sending a large delegation, including Taoiseach Leo Varadkar, Tánaiste Micheál Martin, and Minister for the Environment, Climate and Communications, Eamon Ryan. Following the leaders’ summit, two weeks of negotiations will begin, culminating in the signing of the final agreement on how the world will collectively tackle the climate crisis. Each day of negotiations has a theme, including one day devoted to finance. New promises, pledges, coalitions, and projects are announced at those days. (Events Schedule for this year’s COP.) At this year’s COP, a strong focus will be on food production in a world where hunger levels have risen back up to 2005 level. Also discussed will be the management of methane emissions – an extremely polluting greenhouse gas - and a phasing down of the use of fossil fuels. Climate finance will feature, according to Minister Ryan, who is quoted as saying that “Radical reform of the global financial system will be needed if we are to provide the necessary climate finance for mitigation, adaptation, capacity building and loss and damage”. Chartered Accountants Ireland will keep members informed of all relevant updates from COP. There will be a daily update on the Sustainability News page, and a weekly round-up as part of the Sustainability Bulletin in Chartered Accountants Ireland’s weekly enews to members. Members will also find useful resources on climate – including Climate Essentials for Accountants - in the Sustainability Centre Resource page.

  In this week’s Sustainability/ESG bulletin, read about Chartered Accountants Ireland’s involvement in Climate Finance Week Ireland 2023. Also covered is the endorsement by the European Commission of Ireland's revised recovery and resilience plan, carbon emissions intensity statistics from Northern Ireland, energy and climate developments in the UK, a €4 billion call for net zero technology proposals under the EU’s Innovation Fund, as well as proposals on pollution, packaging and the circular economy, news from the UN’s Emissions Gap Report, as well as Technical Updates, articles and upcoming events. Chartered Accountants Ireland at Climate Finance Week 2023 Chartered Accountants Ireland partnered with the International Sustainable Finance Centre of Excellence (IFSCOE) again this year for Climate Finance Week Ireland 2023. Now in its fifth year, this week-long summit comprises both in person and virtual events about advancing financial sustainability in Ireland. The Institute’s event – You’re in Scope because They’re in Scope’ demonstrated the impact of the Corporate Sustainability Reporting Directive (CSRD) on value chains in Ireland, regardless of whether companies – such as SMEs – are directly in scope of the new Directive. Institute’s Professional Accounting Lead Dee Moran outlined the CSRD and the related standards, the ESRSs, after which Institute’s Sustainability Officer Susan Rossney interviewed David Connolly - Senior Manager, EY Climate Change and Sustainability Services and Donna Wilson - Head of ESG Transformation, AIB. Watch back here Ireland's revised recovery and resilience plan endorsed by European Commission The European Commission has this week positively assessed Ireland’s revised Recovery and Resilience Plan. The plan, which is now worth €914 million in RRF grants, contains a broad scope of green measures in areas including energy renovation for public buildings, the decarbonisation of enterprises, and the promotion of sustainable transport. It will also continue to help strengthen economic and social resilience of Ireland through support for employment by the means of upskilling and an increase in the supply of social and affordable housing, among other things. DETE, Building Better Businesses Midlands Park Hotel, Portlaoise The next event in the Department of Enterprise, Trade and Employment (DETE) ‘Building Better Business’ events will take place on Thursday, 7 December in Dublin. These events aim to help businesses navigate the green journey and boost business performance through digital transformation. The event will take place in the Convention Centre Dublin from 8.30am – 1.30pm. Register here. Carbon emissions intensity in Northern Ireland The Statistics and Analytical Services Branch in the Department of Agriculture, Environment and Rural Affairs (DAERA) have published ‘carbon intensity indicators’ for Northern Ireland for 2023. Carbon intensity refers to the amount of the greenhouse gas carbon dioxide (CO2) emitted per unit of economic output or activity. Figures indicate that the ratio of total greenhouse gas emissions to gross-value add (GVA) in Northern Ireland decreased 66 percent from 1998 to 2021 and decreased 36 percent per capita from 1990 to 2021 (despite a 19 per cent increase in the population over the same period).  The publication seeks to among other things help Government track the effectiveness of carbon reduction policies. UK climate and energy developments The UK’s Energy Act 2023 passed last week, marking a pivotal moment in the country’s transformation to sustainable energy. The legislation aims to future-proof the UK’s energy system by strengthening energy security, delivering net zero and ensuring affordability for households and businesses. According to ICAEW Insights, however, while the Energy Act does provide businesses with a sense of direction and a level of certainty around the government’s investment in a net zero-aligned energy market, the appropriate policy mechanisms and detailed plans are yet to fall into place, and challenges to net-zero remain. This week also saw the publication of the UK Government’s Autumn Economic Statement. In this, Chancellor Jeremy Hunt described the importance of the green economy to the UK's long-term competitiveness, but climate experts were reportedly critical of the absence of references to energy efficiency or insulation, and less-than-optimal levels of investment in green technology in comparison to similar investments offered by the US and the EU.   The Innovation Fund The European Commission has opened a €4 billion call for proposals for net-zero technologies under the Innovation Fund. The Innovation Fund aims to create financial incentives for companies and public authorities to invest in cutting-edge low-carbon technologies and support Europe's transition to climate neutrality. The call is funded by revenues from the EU Emissions Trading System (EU ETS), underlining the importance of carbon pricing for the green transition.  Pollution, packaging and ‘forever chemicals’ - EU “If you pollute, you will pay for your crimes.” This statement by EU Parliament’s chief negotiator Antonius Manders was about the provisional agreement reached last week between the EU Parliament and Council on the protection of the environment through criminal law. Under the new Directive, proposed in 2021, breaches of environmental obligations such as illegal trade and handling of chemicals or mercury, or illegal ship recycling will have to be treated as criminal offences in all EU Member States. Offending companies will be fined up to 5 percent of their global turnover and the worst polluters may face jail sentences of up to 10 years. Separately, the Parliament adopted its position on new EU-wide rules on packaging, to tackle constantly growing waste and boost reuse and recycling in responses to citizens’ expectations to build a circular economy, avoid waste, phase-out non-sustainable packaging and tackle the use of single use plastic packaging. In addition to the proposed ban on the sale of very lightweight plastic carrier bags (below 15 microns), MEPs are also proposing to heavily restrict the use of certain single-use packaging formats, such as hotel miniature packaging for toiletry products and shrink-wrap for suitcases in airports. To prevent adverse health effects, MEPs are also proposing a ban on the use of so called “forever chemicals” in food-contact packaging. The European Parliament has also adopted its position on a stronger “right to repair” for consumers,  complementing EU initiatives on Ecodesign and on Empowering consumers for the green transition. The right to repair proposal aims to encourage more sustainable consumption, by making it easier to repair defective goods such as washing machines, vacuum cleaners, smartphones and bicycles after the guarantee has expired, and reduce waste and support the repair sector. The Emissions Gap Report - UN The UN Environment Programme (UNEP) has issued its annual Emissions Gap Report, which assesses countries’ promises to tackle climate change compared with what is needed.  The report finds that the world is on track for a 3° temperature rise above preindustrial levels this century if governments do not boost climate action. Released ahead of the COP28 climate summit in Dubai this year, the report concludes that the current pledges by countries under the Paris Agreement are insufficient, and that “global low-carbon transformations” are needed to deliver required emissions cuts. Speaking about the report, Inger Andersen, UNEP Executive Director stated: “There is no person or economy left on the planet untouched by climate change, so we need to stop setting unwanted records on greenhouse gas emissions, global temperature highs and extreme weather”. Commenting, Ireland’s Minster for the Environment, Climate and Communications, Eamon Ryan, T.D., reportedly stated that while developed economies are collectively hard-wired to ignore the reality of climate change, we have to speed up and scale up our switch to an economy-wide, low-carbon future based on green energy, green jobs and green agriculture. GDP and climate risk Loss of labour due to heat stress wiped out the equivalent of 4 percent of Africa’s GDP in 2022, according to a new report from the Lancet Countdown on Health and Climate Change covered by Carbon Brief. Meanwhile, Europe and North America only saw labour losses equivalent to 0.1 percent and 0.2 percent of their GDP, respectively, according to the findings. Effective income losses in 2022 were due to heat stress in agriculture and other sectors. Technical updates (from our colleagues in Professional Accounting) EFRAG and CDP have announced that they will cooperate to maximise alignment of CDP’s global environmental disclosure platform with the EU’s environmental reporting standards. Global Reporting Initiative (GRI) has announced the launch of a Sustainability Innovation Lab to enable companies to meet their evolving sustainability disclosure requirements. ESG Governance – Questions Boards should ask to lead the Sustainability Transition (Accountancy Europe, ecoDa and ECIIA) aims to help boards with embedding sustainability into company strategy and business models, and to ensure that proper governance supports this. Did you know? Roughly 30 percent of all food produced for human consumption is wasted. A contributing factor to this is in feast-preparation for holidays like Thanksgiving yesterday in the US, and at Christmas. Online tools like the Guest-imator suggest how much of each dish to make based on who’s coming.  Articles A sector progress tracker for the net-zero transition (McKinsey) Global warming approaching 3 degrees this century with catastrophic implications, UN report warns (Irish Times) Ships Across the World Face Hefty $3.6 Billion Climate Bill - The EU’s Emissions Trading System for vessels kicks in Jan. 1 (Bloomberg) Watch Tomorrow Tonight, a scripted docu-drama (1hr, 11mins) set in 2050 and focusing on climate change, the Irish rural economy and a revitalised Amazon rainforest. Introduced by presenters Mark Little and Carla O’Brien, the programme aired on RTÉ One as part of a series of specials celebrating Science Week 2023. Upcoming events   Chartered Accountants Ireland: Elephant in the Room To mark this year’s Movember, Thrive, along with the Leinster Society, invites you to the unveiling of our Elephant sculpture as part of the mental health initiative, Elephant in the Room. In person: 29 November, 5pm, Chartered Accountant House – Reception Foyer Chartered Accountants Ireland CPD Blitz 2023 - NI: In Person Chartered Accountants Ireland’s 2023 NI CPD Blitz series offers 10 CPD hours each and provides the latest updates in Financial Reporting, Sustainability Reporting, Taxation, and UK Company Law. Sustainability Reporting Update will be given by Dr Louise Gorman, Trinity College Dublin. In person: 30 November, 9:30-1:30pm, Grand Central Hotel, Belfast. Sustainable Energy Authority of Ireland (SEAI) SME Business Briefing A webinar to learn how your business can save money and energy this year. Virtual: 30 November, 10-11am Innovate UK's showcase for climate tech event in Northern Ireland Innovate UK is delivering a series of 18 'showcase for climate tech' events across the UK until September 2025. Each event focuses on a specific net zero theme or technology area. The Northern Ireland event, run in partnership with Business in the Community NI, will take place in Belfast on 6 December 2023 and will focus on digital solutions for net zero. In person: 6 December, Various Locations (See event listings) DETE, Building Better Business   During 2023, the Department of Enterprise, Trade and Employment (DETE) has run a series of free Building Better Business events across the country to help businesses navigate the green journey and boost business performance through digital transformation. In person: 7 December, The Convention Centre Dublin, 8.30am – 1.30pm.  Chartered Accountants Ireland CPD Blitz 2023- Dublin: Face to Face Chartered Accountants Ireland’s 2023 CPD Blitz series offers 10 CPD hours each and provides the latest updates in Financial Reporting, Sustainability Reporting, Taxation, and UK Company Law. Sustainability Reporting Update will be given by Dr Louise Gorman, Trinity College Dublin. In person: 7 December, 9:30-1:30pm, Chartered Accountant House, Dublin. Network for Chartered Accountants working on ESG projects Are you a Chartered Accountant working in ESG or working on ESG-related projects? Would you like an opportunity to engage with other Chartered Accountants working in this space to share insights, challenges and opportunities? Chartered Accountants Ireland now has a network to allow members working in sustainability/ESG to meet and discuss all matters of interest re ESG and accounting. 3rd or 4th Wednesday of every month Next: 24 January 2023  14.00-15.00/30 Teams If you would like to attend please email sustainability@charteredaccountants.ie   You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.

  Chartered Accountants Ireland is partnering with Climate Finance Week Ireland to deliver a webinar on the Corporate Sustainability Reporting Directive (CSRD) and its implications for SMEs in value chains. With effect from financial year beginning on or after 1 January 2024, companies in Ireland will begin reporting under the CSRD (and as a result, the European Sustainability Reporting Standards ‘ESRS’). Drawing on our speaker’s expert knowledge, the webinar will first describe the CSRD and the ESRS.  This will be followed by a panel discussion, on how the financial services sector is transforming its own environment, social and governance profile, and the impact this will have on customers along the value chain. Building on the concept “you’re in scope because they’re in scope”, the speakers will discuss ways for SMEs to prepare for the potential impact of the Corporate Sustainability Reporting Directive. Speakers: Dee Moran - Professional Accountancy Lead, Chartered Accountants Ireland David Connolly - Senior Manager, EY Climate Change and Sustainability Services Donna Wilson - Head of ESG Transformation, AIB (Host) Susan Rossney – Sustainability Officer, Chartered Accountants Ireland Sign up here: https://www.climatefinanceweek.ie/agenda/thursday-23rd-november/

    In this week’s Sustainability/ESG bulletin, read about developments in Ireland’s sustainability energy as work commences on the Celtic Interconnector and the Government publishes its new energy strategy. Also covered are emergency rate reliefs for flood-affected businesses in Northern Ireland, a landmark new EU regulation on methane and fossil fuel operations emissions, a Critical Raw Materials Act, and information on the EU’s fight against human trafficking, resources from IFAC and the usual roundup of newsletters, podcasts, articles and events.   Developments in sustainability energy in Ireland The governments of Ireland and France have signed a Joint Declaration of Intent on ‘Energy Transition Cooperation’, providing a framework for the mutual willingness of both countries to accelerate the decarbonisation of energy systems. The governments also marked the commencement this week of construction work on the Celtic Interconnector, a high-voltage subsea power cable that will link the electricity grids of Ireland and France. It will include enough capacity to power 450,000 homes and will create a direct electricity link from Ireland to the EU. It will also form part of the Offshore Network Development Plan, intended to develop an integrated energy system for European energy markets. The Government also published the Energy Security in Ireland to 2030, outlining its a strategy for a more secure, sustainable, and affordable energy system for Ireland. The strategy focuses on four key pillars: reduced and responsive demand; a renewables-led system; a more resilient system; and robust risk governance in the energy sector. The report is part of an Energy Security Package, containing a range of supplementary analyses, consultations, and reviews, which have informed the recommendations and actions related to energy security. A follow-up to the Energy Security Package will be published in 2030, and every five years thereafter, with implementation monitored by the Government’s Energy Security Group. DETE, Building Better Businesses, Dublin The next event in the Department of Enterprise, Trade and Employment (DETE) ‘Building Better Business’ events will take place on Thursday, 7 December in Dublin. These events aim to help businesses navigate the green journey and boost business performance through digital transformation. The event will take place in the Convention Centre Dublin from 8.30am – 1.30pm. Register here. Emergency rate reliefs – Northern Ireland Emergency rate reliefs are being made available for businesses affected by recent flooding in Northern Ireland. The emergency rate relief measures include 100 percent relief for non-domestic rates on properties that have been flooded as well as support to help businesses temporarily relocate. Find out more. Methane and raw materials: EU legislation The European Parliament and Council have this week provisionally agreed on a landmark new EU Regulation to reduce energy sector methane emissions in Europe and in its global supply chains. Methane, a powerful greenhouse gas, is the second biggest contributor to climate change after carbon dioxide (CO2) and is also a potent air pollutant. The regulation will oblige the fossil gas, oil and coal industry to properly measure, monitor, report and verify their methane emissions according to the highest monitoring standards, and to take action to reduce them. Pending formal adoption, the new legislation will be published in the Official Journal of the Union and will enter into force. Separately the European Commission has welcomed political agreement on the Critical Raw Materials Act. This sets out actions to ensure the EU’s access to a secure, diversified, affordable and sustainable supply of critical raw materials. The EU’s demand for base metals, battery materials, rare earths and more are set to increase exponentially as the EU divests from fossil fuels and turns to clean energy systems which necessitate more minerals. Adaptation Nature-based solutions, such as restoring wetlands in flood-prone areas or green infrastructure to reduce heat island effects in cities, need to be scaled up and expanded to help Europe better cope with the impacts of climate change. This is according to a recently published European Environment Agency (EEA) briefing which assesses the current state of such climate adaptation projects and how they can increase both society resilience and biodiversity. Human trafficking: the EU’s fight against exploitation The European Parliament has updated its information on how the EU is strengthening anti-trafficking rules to respond to changes in the way people are being exploited. Parliament agreed its position in October 2023, which forms the basis for negotiations with EU countries. MEPs are also working on rules aimed at keeping products made using forced labour out of the EU market. The draft regulation would put in place a framework to investigate the use of forced labour in companies’ supply chains. Over $6 Billion needed to strengthen US climate resilience, report finds The United States has released a substantial government report on climate change in the country, Fifth National Climate Assessment, in which it states that more than $6 billion is required to strengthen climate resilience across the country. The report, which was published following a comprehensive survey of climate impacts and risks around the US and runs to over 2,000 pages reportedly states that “How much more the world warms depends on the choices societies make today… “The future is in human hands.” Resources The International Federation of Accountants (IFAC) has released a Small Business Sustainability Checklist (the Checklist) that aims to help small- and medium-sized enterprises (SMEs) maximize the benefits of incorporating sustainability into their strategy and business operations. IFAC has also gathered together a page of resources from its conference with Accountancy Europe Preparing for High-Quality Sustainability Assurance Engagements, including recordings of presentations and discussion, slides, a list of key takeaways as well as plans for the future, and deep dive on ISSA 5000, views from key stakeholders, and other resources. Newsletter The London Business School has issued a new format newsletter as part of the Think at London Business School in which it looks at how important it is for businesses to strive for sustainability. The issue contains insights on COP28, technology solutions to ocean plastic pollution, private equity firms and ESG, and podcast and books. Articles How businesses can start the journey of taking climate action (Business Post) Make your corporate gifts sustainable in 2023 (Accountancy Ireland) How to Fathom Climate Change’s Unfathomable Numbers (Bloomberg Green) EU agrees nature restoration deal that will have far-reaching impact for Ireland (Irish Times) Office recycling bins turn us into monsters (Financial Times) Audit firms risk losing out in race for ESG assurance (ICAEW Insights) Upcoming events   🌟🌟IFSCOE, Climate Finance Week Ireland 2023 Week-long summit. In person and virtual: Monday, 20 November – Friday, 24 November includes: Corporate Sustainability Reporting Directive (CSRD) and Its Implications For SMEs In Supply Chains (Webinar) Thursday, 23 November, 10-11 Dee Moran - Professional Accountancy Lead, Chartered Accountants Ireland David Connolly - Senior Manager, EY Climate Change and Sustainability Services Donna Wilson - Head of ESG Transformation, AIB Virtual: 23 November, 10-11🌟🌟 Chartered Accountants Ireland: Elephant in the Room To mark this year’s Movember, Thrive, along with the Leinster Society, invites you to the unveiling of our Elephant sculpture as part of the mental health initiative, Elephant in the Room. In person: 29 November, 5pm, Chartered Accountant House – Reception Foyer Sustainable Energy Authority of Ireland (SEAI) SME Business Briefing A webinar to learn how your business can save money and energy this year. Virtual: 30 November, 10-11am Innovate UK's showcase for climate tech event in Northern Ireland Innovate UK is delivering a series of 18 'showcase for climate tech' events across the UK until September 2025. Each event focuses on a specific net zero theme or technology area. The Northern Ireland event, run in partnership with Business in the Community NI, will take place in Belfast on 6 December 2023 and will focus on digital solutions for net zero. In person: 6 December, Various Locations (See event listings) DETE, Building Better Businesses, Dublin During 2023, the Department of Enterprise, Trade and Employment (DETE) has run a series of free Building Better Business events across the country to help businesses navigate the green journey and boost business performance through digital transformation. In person: 7 December, The Convention Centre Dublin, 8.30am – 1.30pm.  Network for Chartered Accountants working on ESG projects Are you a Chartered Accountant working in ESG or working on ESG-related projects? Would you like an opportunity to engage with other Chartered Accountants working in this space to share insights, challenges and opportunities? Chartered Accountants Ireland now has a network to allow members working in sustainability/ESG to meet and discuss all matters of interest re ESG and accounting. 3rd or 4th Wednesday of every month Next: 22 November 2023  14.00-15.00/30 Teams If you would like to attend please email sustainability@charteredaccountants.ie   You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.

In this week’s Sustainability/ESG bulletin, read about support measures to help businesses in Ireland and Northern Ireland impacted by recent flooding. Also covered is Ireland’s Fourth National Climate Stakeholder Forum, the sustainability skills identified by the National Skills Bulletin 2023, how sustainability is a priority for 90 percent of Ireland’s manufacturing industry, the Environmental Protection Authority (EPA)’s new National Air Quality Forecast, and updates from the EU and the UN, as well as the usual roundup of updates, podcasts, articles and events. Sustainability Award News! ✨🎉Congratulations to Bank of Ireland, winner of the Leinster Society’s Published Accountants Award Sustainability & ESG Reporting (Listed Entity) and to CIÉ - Córas Iompair Éireann, winner of the Sustainability & ESG Reporting (Unlisted Entity) Award! #PAA2023 ✨🎉 Emergency Business Flooding Schemes – Ireland and Northern Ireland The Minister for Enterprise, Trade and Employment, Simon Coveney, T.D. has extended two previously approved Emergency Business Flooding Schemes for small businesses, sports clubs, community, and voluntary organisations unable to secure flood insurance and affected by recent flooding in certain areas in Ireland. Due to the exceptional severity of the flooding in some areas, the Government has agreed to activate an Enhanced Emergency Business Flooding Scheme with higher levels of financial support for businesses severely affected in certain locations, as well making immediately available financial assistance by way of low-cost loans from Microfinance Ireland to small businesses that cannot get loan financing from other lenders.  Climate experts are warning that floods constitute the greatest hazard associated with global climate change. Separately, a number of support measures have been announced to help businesses in Northern Ireland impacted by recent flooding. The support measures include rates relief for flooded business premises and one-off grant payments for affected businesses. Proposals for further schemes to support the longer-term recovery of the affected towns are being considered by government departments and local government. More information on those schemes will be released in the coming weeks. Fourth National Climate Stakeholder Forum held The fourth National Climate Stakeholder Forum (NCSF) took place this week, hosted by the Minister for Environment, Climate and Communications, Eamon Ryan, T.D. The one-day workshop is a key pillar of the National Dialogue on Climate Action (NDCA), Ireland's national programme to engage, enable and empower stakeholders and citizens across society to take climate action.  Participants at the forum – among them representatives from Chartered Accountants Ireland – discussed sectoral engagement with climate action, identified where gaps in communication existed, and ways in which as many people as possible in society could be engaged in taking climate action. The output of this forum will be a roadmap for delivering the new Action Plan on Climate Communications and Engagement. ‘Sustainability Starts with a Plan’ – Enterprise Ireland Enterprise Ireland has launched a sustainability campaign, ‘Sustainability Starts with a Plan’, to build awareness across Irish business of the supports available to help them reduce carbon emissions and develop sustainability plans. The campaign, which will include an initial six-week advertising campaign across radio, print and social media, is designed to encourage take-up by businesses of the range of Enterprise Ireland supports to assist them on their sustainability journey. Supports include consultancy advice, capacity building supports and financial grants for projects that reduce carbon emissions. Local Enterprise Officers (LEO) have similar offerings for micro businesses. Further details can be found on the Enterprise Ireland website. Upskilling and reskilling essential across business and finance The National Skills Bulletin 2023 is reporting that the skills mix of Ireland’s workforce will need to evolve as industries in Ireland address issues such as sustainable sourcing, circular lifecycles, energy efficiency, and waste minimization. The report, which was launched this week, states that, “Upskilling and reskilling will be essential across the business and financial occupations in the coming years so as to successfully navigate changes resulting from digitalisation, automation and the increased focus on sustainable finance”. This is the nineteenth such report in an annual series and was prepared by the Skills and Labour Market Research Unit (SLMRU) in SOLAS on behalf of the National Skills Council. Sustainability a priority for 90 percent of Ireland’s manufacturing industry  IBEC’s 2023 Manufacturing in Ireland report has found that there is widespread participation in the manufacturing industry in sustainability (85 percent) and digitalisation (68 percent) initiatives. Commenting, Sharon Higgins, IBEC’s Executive Director, Membership and Sectors stated that “half of organisations involved in each of these expecting to save money as a result” and that “90% of companies agreed that sustainability, is a priority for their business. Given the priority attached to sustainability and impending reporting directives, 85% are introducing initiatives in the next 1-2 years that will lessen their environmental impact and address customer expectations.” EPA launches a National Air Quality Forecast The Environmental Protection Authority (EPA) has launched a national air quality forecast to provide greater information to the public regarding expected air quality in Ireland. The forecast will provide maps showing the predicted daily air quality for up to three days -"Today", “Tomorrow” and the “Day after Tomorrow”. The air quality forecast will help people plan their activities to follow public health advice, such as reducing physical activity when air pollution levels are predicted to increase and could affect their health. The forecast maps will be uploaded twice daily, once in the morning and once in the evening. The forecast and further information on air quality and the Air Quality Index for Health are available on airquality.ie. Funding opportunities in UK and Northern Ireland  Funding is being made available to eligible organisations through Small Business Research Initiative (SBRI) competitions for innovative solutions to challenges faced by the public sector in healthcare, circular economy, agriculture and more.  Under SBRI: Delivering a Net-Zero NHS for a Healthier Future, organisations can apply for funding for early-stage innovations to accelerate the development of greener innovation towards a more sustainable healthcare system.   Creative UK is accepting applications for the Creative Catalyst Challenge Fund, offering businesses an opportunity to access grant funding of up to £250,000. Supported by Innovate UK, this fund is designed to empower creative minds to channel their innovation towards addressing specific climate challenges within the industry. The focus of this grant is to support research and development that: combats waste, promotes decarbonisation or minimizes the creative industry's impact on the environment. European Commission adopts Carbon Market Report The European Commission has adopted the Carbon Market Report, which reviews the functioning of the EU’s Emissions Trading System (EU ETS) in 2022 and the first half of 2023. The EU ETS puts a cap on greenhouse gas emissions from power and energy-intensive sectors of industry and aviation operating in Europe (approx. 36 percent of all EU greenhouse gas emissions). The cap decreases every year to reduce emissions in line with the EU climate targets. The report also captures key outcomes of the 2023 EU ETS revision in the context of the European Green Deal, which aligns the system with the EU’s target of at least 55 percent emission reductions by 2030 below 1990 levels. To date, the EU ETS had helped bring down emissions from power and industry sectors to 37.3 percent below 2005 levels.  UN Climate Adaptation Gap Report publishes The United Nations Environment Programme (UNEP) has published its UNEP Adaptation Gap Report 2023, which looks at progress in planning, financing and implementing adaptation actions. The main finding for 2023 is that progress on climate adaptation is slowing when it should be accelerating to catch up with rising climate change impacts. The report also identifies seven ways to increase financing, including through domestic expenditure and international and private sector finance. Survey – Nature Based Solutions – World Research Institute Over half of global GDP - $44 trillion - relies on nature. Yet, only 17 percent of total investment in nature comes from the private sector. The World Resources Institute (WRI) is researching how businesses are deciding to finance Nature-based Solutions (NBS) in order to support their company’s efforts to increase investment in NBS and have made available this 9-minute survey for interested companies. Technical Update From our colleagues in Professional Accounting IAASB has published a set of Frequently Asked Questions on the recently proposed ISSA 5000, General Requirements for Sustainability Assurance Engagements. The FAQ addresses, among other things, double materiality and how an assurance practitioner considers an organization’s “materiality process” during a sustainability assurance engagement. EFRAG has welcomed the adoption and integration in the European Legal Framework of the 12 European Sustainability Reporting Standards (ESRS). To support their successful implementation EFRAG has launched a Q&A platform to encourage stakeholder dialogue, and announced the development of further standards for SMEs. Accountancy Europe, together with ECIAA and ecoDa, has released a publication entitled “ESG Governance: questions boards should ask to lead the sustainability transition”. It was announced that the International Sustainability Standards Board’s (ISSB) IFRS Sustainability Disclosure Standards will be incorporated into the Brazilian regulatory framework, setting out a roadmap to move from voluntary use starting in 2024 to mandatory use on 1 January 2026. The International Sustainability Standards Board has issued its ISSB Update, and the latest episode of the ISSB podcast. Accountancy Europe - Sustainability update – October 2023 (from our friends in Accountancy Europe) EC launched call for evidence to rationalise EU reporting requirements EC adopts final delegated act on adjusting SME thresholds Sector-specific ESRS postponed Council adopts EU green bond standard regulation Stakeholder Request Mechanism for EU Taxonomy Council conclusions for COP 28 And more Listen Niall Fitzgerald from Chartered Accountants Ireland is featured on the Carmichael Podcast to talk about sustainability and its effects on the non-profit sector. Articles Tourism Ireland to ‘weigh’ benefits of further growth with environmental damage (Irish Times) Workers will accept lower pay at environmentally sustainable firms (Irish Times) Upcoming Events   ICAEW Climate Summit Week-long summit Virtual: 13-17 November. Climate Finance Week Ireland 2023 Week-long summit. In person and virtual: Monday, 20 November – Friday, 24 November includes: Corporate Sustainability Reporting Directive (CSRD) and Its Implications For SMEs In Supply Chains (Webinar) Thursday, 23 November, 10-11 Dee Moran - Professional Accountancy Lead, Chartered Accountants Ireland David Connolly - Senior Manager, EY Climate Change and Sustainability Services Donna Wilson - Head of ESG Transformation, AIB Elephant in the Room To mark this year’s Movember, Thrive, along with the Leinster Society, invites you to the unveiling of our Elephant sculpture as part of the mental health initiative, Elephant in the Room. In person: 29 November, 5pm, Chartered Accountant House – Reception Foyer SEAI SME Business Briefing A webinar to learn how your business can save money and energy this year. Virtual: 30 November, 10-11am Innovate UK's showcase for climate tech event in Northern Ireland Innovate UK is delivering a series of 18 'showcase for climate tech' events across the UK until September 2025. Each event focuses on a specific net zero theme or technology area. The Northern Ireland event, run in partnership with Business in the Community NI, will take place in Belfast on 6 December 2023 and will focus on digital solutions for net zero. In person: 6 December   Network for Chartered Accountants working on ESG projects Are you a Chartered Accountant working in ESG or working on ESG-related projects? Would you like an opportunity to engage with other Chartered Accountants working in this space to share insights, challenges and opportunities? Chartered Accountants Ireland now has a network to allow members working in sustainability/ESG to meet and discuss all matters of interest re ESG and accounting. 3rd or 4th Wednesday of every month Next: 22 November 2023  14.00-15.00/30 Teams If you would like to attend please email sustainability@charteredaccountants.ie   You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.

    In this week’s Sustainability/ESG bulletin, read about Ireland’s first national Bioeconomy Action Plan, and how studies show that Irish people are largely supportive of climate policies. Also covered is new funding available for solutions to bias and discrimination in AI systems, and a public consultation on zero emissions heavy goods vehicles in the UK, a report revealing the progress of climate action in the EU, the growth of climate risk assessments in national adaptation policies, and the usual roundup of updates, articles and events. Ireland’s first national Bioeconomy Action Plan publishes Minister for Agriculture, Food and the Marine Charlie McConalogue, T.D., and Minister for the Environment, Climate and Communications, Eamon Ryan, T.D., have announced the publication of Ireland’s first National Bioeconomy Action Plan for 2023-2025. The Action Plan will have a strong focus on bringing sustainable scientific practices, technologies, and biobased innovation into use on farms and by biobased industries in Ireland. The ‘bioeconomy’ is the production, utilisation, and regeneration of biobased materials to provide sustainable nature based and biobased solutions across all economic sectors. EPA finds Irish people largely supportive of climate policies Insight reports published this week by the Environmental Protection Authority (EPA) have found that Irish people are largely supportive of climate change policies. Opposition that arises appears to be driven by practical concerns, rather than by climate-change scepticism, according to the study. The youngest adults (18-24 years) consistently exhibit significantly higher levels of concern, with young women most concerned about climate change. The reports – ‘Climate Change in the Irish Mind - Support for Climate Policies’ and ‘Climate Change in the Irish Mind - Climate Risk Perceptions’ – are both from the EPA's study ‘Climate Change in the Irish Mind’ which focuses on the national responses to risk perceptions and policy support. The reports provide a detailed examination of some of the findings of the baseline study published in 2021. UK funding and public consultation Innovate UK is working with the Centre for Data Ethics and Innovation (CDEI), part of the UK’s Department for Science Innovation and Technology, to invest up to £400,000 to drive the development of novel solutions to address bias and discrimination in artificial intelligence (AI) systems. The deadline for applications is 13 December 2023.   Separately, grants from the Department of Transport are being made available to businesses seeking to provide solutions to some of transport’s most pressing issues, including decarbonisation. Applications will stay open until Monday 27 November 2023. The Department has also launched a public consultation seeking views sought to inform the development of a zero-emission heavy goods vehicle and coach infrastructure strategy. The call for evidence closes on 14 December 2023. State of the Energy Union 2023: Further action needed to accelerate climate action The 2023 State of the Energy Union report published this week and found that the EU’s net greenhouse gas emissions decreased by approximately 3 percent in 2022, continuing a 30-year downward trend (having fallen by 32.5 percent compared with 1990). The report also revealed an increase in the volume of carbon removed from the atmosphere in the EU compared to the previous year. However, based on Member States' projections, the EU is currently not on track to reach its 2030 objective of removing 310 million tonnes of CO2 from the atmosphere per year, and the EU and its Member States need to significantly step up their implementation efforts and accelerate emissions reduction to stay on track to reach the 2030 -55 percent net greenhouse gas reduction target and climate neutrality by 2050. Climate risk assessments in national adaptation policies Climate risk assessments that take account of threats like heatwaves, droughts, floods and wildfires are increasingly being used to inform and improve national adaptation policies. This is according to the latest European Environment Agency (EEA) assessment of national adaptation actions published this week. The briefing, ‘Is Europe on track towards climate resilience? Status of reported national adaptation actions in 2023’, presented the current status of national adaptation actions across Europe. It found a gradually evolving adaptation policy landscape, sub-national adaptation policymaking progressing in all countries, governance-related challenges It also found that EU funds play a major role in financing adaptation action for most Member States. ‘Adaptation’ to climate change means taking action to adjust to its present and future impacts. Examples of adaptation measures include large-scale infrastructure changes, such as building defences to protect against sea-level rise, as well behavioural shifts, such as individuals reducing their food waste. Inequality in Europe Ireland has been given an overall gender equality score of 73 in an EU index published this week by the European Institute for Gender Equality (EIGE). The score represents a drop of 1.3 points since 2020 – the largest decline among the EU’s 27 countries. Ireland has dropped two places to rank ninth place overall. The index reportedly found that that gender inequalities are more ‘pronounced’ in Irish workplaces than they were in the last decade and when compared with pre-pandemic (2020) levels, and that both women and men in Ireland are less likely to choose low-carbon modes of transport than their counterparts elsewhere in the EU. Separately, a report published by the European Union Agency for Fundamental Rights (FRA) has found that people of African descent routinely face racial discrimination, harassment and violence in all aspects of their lives. 45 percent of respondents said they experienced racial discrimination in the five years before the survey, and 34 percent felt racially discriminated against when looking for a job. The FRA is calling on EU countries to take urgent steps to tackle racial discrimination and harassment to ensure everybody is treated equally and with dignity. Did you know? A study has found that the power sectors in the Asia-Pacific, Europe and the US are “highly exposed” to stranded assets as stringent policies are implemented to limit global warming to 2C above pre-industrial levels. The study was part of a paper in the multidisciplinary journal Nature Communication. Articles High fossil fuel use putting UN climate targets out of reach: IEA (RTÉ) Advancing UN SDGs with Social Cost-Benefit Analysis (Institute of Project Management) ISSB standards: the right solution – article highlighting the benefits of the UK adopting IFRS Sustainability Disclosure Standards in response to TAC’s call for evidence (ICEAW) Carbon Capture Desperately Needs a Reality Check After Lost Decade (Bloomberg Green) Storm Babet floods show climate change is 'here and now' - Eamon Ryan (The Journal) Upcoming Events   Sustainable Finance Skillnet is offering funded training opportunities until October and November 2023 to Irish employees in the financial services sector at 30 percent of course fees (with 70 percent funding available for members of the International Sustainable Finance Centre of Excellence). A series of short, deep dive training modules on key sustainable finance topics include  •           EU Taxonomy •            Net-Zero •            SFDR (Sustainable Finance Disclosure Regulation) Department of Enterprise, Trade and Employment, Building Better Business in the South-West Free business event in Cork, focusing on the opportunities and challenges presented by the green economy and digital transformation. In person: Thursday, 9 November iQuest & Business Post Events: The ESG Summit In person: Thursday, 9 November, Radisson Blu Royal Hotel, Golden Lane, Dublin ICAEW Climate Summit Week-long summit Virtual: 13-17 November. Climate Finance Week Ireland 2023 Week-long summit. In person and virtual: Monday, 20 November – Friday, 24 November Innovate UK's showcase for climate tech event in Northern Ireland Innovate UK is delivering a series of 18 'showcase for climate tech' events across the UK until September 2025. Each event focuses on a specific net zero theme or technology area. The Northern Ireland event, run in partnership with Business in the Community NI, will take place in Belfast on 6 December 2023 and will focus on digital solutions for net zero. In person: 6 December Certificate in Sustainability Strategy, Risk and Reporting Classes start Wednesday 8 November Due to popular demand, our Certificate in Sustainability Strategy, Risk and Reporting for accountants is back again in November 2023. Over 8 weeks, you'll cover key reporting frameworks and metrics, and learn to address the ESG opportunities and challenges that organisations already face. Network for Chartered Accountants working on ESG projects Are you a Chartered Accountant working in ESG or working on ESG-related projects? Would you like an opportunity to engage with other Chartered Accountants working in this space to share insights, challenges and opportunities? Chartered Accountants Ireland now has a network to allow members working in sustainability/ESG to meet and discuss all matters of interest re ESG and accounting. 3rd or 4th Wednesday of every month Next: 22 November 2023  14.00-15.00/30 Teams If you would like to attend please email sustainability@charteredaccountants.ie   You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.    

  In this week’s Sustainability/ESG bulletin, read how business leaders are increasingly looking to Chartered Accountants as trusted advisors on ESG issues. Also covered is increased funding for projects in Ireland under the Just Transition Fund; CSO statistics showing one-third of Irish office buildings received an ‘E’ energy rating or lower; new national End-of-Waste Criteria for Ireland’s largest waste stream; how the European Banking Authority is revising capital rules to include ESG risks; and the usual roundup of technical updates, articles and events.   Trust in Chartered Accountants as ESG leaders Business leaders increasingly look to Chartered Accountants for guidance on environment, social and governance (ESG) issues. This was among the key findings from an Edelman research report that measures trust with Chartered Accountants among financial decision makers globally. Now in its fourth wave, the study focused on topical themes to the business world, including economic uncertainty, the cost-of-living crisis, combatting misinformation, digitalisation, automation, and the importance of ESG. The report was launched at a panel event run by Chartered Accountants Ireland, alongside a Chartered Accountants Worldwide research paper Trust: Making the Difference. Increased funding for projects in Ireland under the Just Transition Fund Minister for the Environment, Climate and Communications, Eamon Ryan, T.D., has announced a further €24 million for the Midlands region under Ireland’s EU Just Transition Fund (JTF) programme. Targeted at the wider Midlands region as it transitions away from peat extraction for energy use, the JTF programme provides funding to projects that invest in the development of local communities, create employment and help diversify the local economy. Further information is available on the website of Pobal, which is administering the scheme. One-third of office buildings in Ireland received 'E' energy rating or lower Figures released from the CSO this week on energy ratings of non-domestic buildings in Ireland for Quarter 3 of 2023 has found that over one-third (35 percent) of office buildings in Ireland received a Business Energy Ratings (BER) certificate of ‘E’ or below between 2009-2023.  BER audits were conducted for 1,754 non-domestic buildings constructed between 2020 and 2023. Almost two-fifths (38 percent) of these buildings received an ‘A’ rating, compared with 22 percent of non-domestic buildings constructed during 2015 to 2019. While the most energy efficient building types audited during 2009-2023 were schools and colleges (40 percent of these were awarded an ‘A’ rating), at least 14 percent of office buildings were among the least energy efficient building types, scoring the lowest rating (‘G’), with only 2 percent receiving an ‘A’ rating. EPA publishes national end-of-waste criteria The Environmental Protection Agency (EPA) has today published national End-of-Waste Criteria for elements of construction waste, which is Ireland’s largest waste stream. The criteria apply to ‘aggregates’ recycled from construction and demolition waste, including soil and stone, concrete, bricks and ceramics. The implementation of new criteria aims to reduce construction waste going to landfills and increase current low recycling rates. Further information on the criteria and other initiatives of the circular economy programme are available on the EPA website.   Green Agreements guidance launched by Competition and Markets Authority The UK Competition and Markets Authority has launched new Green Agreements Guidance for businesses. The guidance explains how competition law applies to environmental sustainability agreements between firms operating at the same level of the supply chain, to help them act on climate change and environmental sustainability. The guidance includes additional practical examples that businesses can use to inform and shape their own decisions when working with competitors on environmental sustainability initiatives. EBA revising capital rules to include ESG risks The European Banking Authority (EBA) has published a report on the role of environmental and social risks in the prudential framework of credit institutions and investment firms. The report recommends targeted enhancements to accelerate the integration of environmental and social risks across ‘ Pillar 1’ (one of the three areas of focus of the Basel Framework which sets out capital requirements and risk measurements for global banks). The proposed enhancements aim to support the transition towards a more sustainable economy, while ensuring that the banking sector remains resilient. Commission adopts new ETS Auctioning Regulation The European Commission has adopted a new ETS Auctioning Regulation that sets out technical elements necessary for good organisation of auctions of greenhouse gas emission allowances under the EU’s Emissions Trading Scheme (ETS). The action follows the revision of the ETS Directive in the context of REPowerEU plan and the ‘Fit for 55’ legislative package to reduce Europe’s net greenhouse gas emissions by at least 55 percent by 2030. The main elements introduced in the new Regulation include the extension of the ETS scope, changes related to improvements regarding market oversight and transparency, and changes related to the rules regarding the notification of the voluntary cancellation of allowances by Member States under the ETS Directive. After a period of scrutiny by the European Parliament and Council the new regulation will be published in the Official Journal and enter into force thereafter. Accountancy bodies publishes report for public sector sustainability Three global accountancy bodies, ACCA, IFAC and IDI, have launched a publication on preparing for sustainability reporting in the public sector. The report, Preparing for Sustainability Reporting and Assurance - An introduction for the public sector globally, was launched at the World Investment Forum in Abu Dhabi, and outlines what sustainability reporting and assurance mean for the public sector, why they are important, and key principles for governments, SAIs and other public sector bodies to consider in this journey. Asset owners and investor engagement The Net-Zero Asset Owner Alliance (NZAOA) has released its third annual progress report. Increasing Climate Ambition, Decreasing Emissions. For the first time, the report by the 2019-founded alliance of global asset owners committed to ensuring their investment portfolios are carbon neutral by 2050, provides data on the membership’s absolute financed greenhouse gas emissions. It also reportedly shows a 3.5 percent decrease from 2021 to 2022 (from 221.2 mtCO2e to 213.4 mtCO2e) despite membership growth over that period. Separately, however, Climate Action 100+, the world’s largest investor engagement initiative on climate change, has found that of the most companies it assessed against its newly updated ‘Net Zero Company Benchmark’ are not moving fast enough to align with the goals of the Paris Agreement and reduce investors’ risk. The results, a summary of which can be found here, reveal that while there is long-term ambition among the companies it surveyed, there is a lack of detailed plans of short-term actions. These include targets to reduce greenhouse gas emissions, CAPEX allocation and climate policy engagement.   Technical Updates (From our colleagues in Professional Accounting) The European Parliament has voted to adopt the European Sustainability Reporting Standards (ESRS), paving the way for the standards to become effective, depending on a company size and nature, on a phased basis financial periods beginning on or after 1 January 2024. Several accounting standards boards, including in the UK and Australia, have jointly issued a letter to the International Sustainability Standards Board (ISSB) regarding its recent Agenda Consultation. The letter highlights common concerns, which include connectivity with accounting standards; strategic roadmap; and implementation priority. The Financial Stability Board (FSB) has published its annual progress report on climate-related disclosures, delivered to G20 Finance Ministers and Central Bank Governors for their 11-12 October 2023 meeting. The Financial Conduct Authority (FCA) has welcomed the publication of the Transition Plan Taskforce (TPT) Disclosure Framework. Resources (From our friends in Accounting for Sustainability) New guidance has been published for pension fund chairs and trustees on managing nature-related risks and seizing opportunities for pension chairs and trustees: Managing Nature Risks and Investing in The Opportunities: Top Tips for Pension Fund Chairs and Trustees. Out now This month’s SustainabilityWorks Newsletter has issued, with news, top reads, videos, and sustainability jobs (subscribe here). Did you know? 77 countries had their hottest September on record, according to climate science initiative Berkeley Earth. Read more. Watch: Sustainable Supply Chains In this 15-minute chat, Institute's Sustainability Officer Susan Rossney chatted to Shane Faulkner,  KPMG's Sustainability Manager, about what why sustainable supply chains are important for SMEs, what questions SMEs might be asked by their customers and clients, and what they can do to prepare. Watch back here. Listen The cost of climate change: ‘almost like driving another budget through public finances’ (Irish Times, Inside Business Podcast) 38:51 Articles New electric car sales up 52% so far this year – CSO (RTÉ) UK boards prioritised experience over diversity last year, says headhunter (Financial Times) EU climate ministers back ‘polluter pays’ principle in agreed declaration for Cop28 negotiations (Irish Times) California requires companies to report carbon emissions (BBC News) New World Bank president signals that time is up on billion euro subsidies for fossil fuels (Euronews) More than 50,000 companies to report climate impact in EU after pushback fails (Financial Times) Green Fees Overtake Fossil Fuels for Second Straight Year (Bloomberg) Upcoming Events   SustainExchange: What can you and your organisation do to help avert the climate crisis? Panel discussion: Hybrid (in person/virtual): Tuesday 24 October. Women in Business (Northern Ireland) Women in Finance A session on women in finance which will focus on work in finance departments, small scale accountancy or working for yourself. Members and non-members are welcome to join this online event. Part of Women in Business wide-ranging programme of female entrepreneurship events over the upcoming months, including sectoral networking, webinars, and training courses for essential skills. Virtual: Wednesday, 25 October, 10-11.30am. Sustainable Finance Skillnet is offering funded training opportunities until October and November 2023 to Irish employees in the financial services sector at 30 percent of course fees (with 70 percent funding available for members of the International Sustainable Finance Centre of Excellence). A series of short, deep dive training modules on key sustainable finance topics include  •           EU Taxonomy •            Net-Zero •            SFDR (Sustainable Finance Disclosure Regulation)   Chartered Accountants Ireland: ESG Masterclass: Take your Sustainability Knowledge to the Next Level A 3-hour online masterclass providing a high-level overview of the key global, European and national regulations, standards and developments impacting sustainability governance, reporting and assurance, with an emphasis on areas highly relevant to accountants. Virtual: Thursday, 26 October, 8.30-13.30, €206.25 (€165.00 Chartered Accountants Ireland Member Price) Climate Finance Week Ireland 2023 Week-long summit. In person and virtual: Monday, 20 November – Friday, 24 November iQuest & Business Post Events: The ESG Summit In person: Thursday, 9 November, Radisson Blu Royal Hotel, Golden Lane, Dublin ICAEW Climate Summit Week-long summit Virtual: 13-17 November. Innovate UK's showcase for climate tech event in Northern Ireland Innovate UK is delivering a series of 18 'showcase for climate tech' events across the UK until September 2025. Each event focuses on a specific net zero theme or technology area. The Northern Ireland event, run in partnership with Business in the Community NI, will take place in Belfast on 6 December 2023 and will focus on digital solutions for net zero. In person: 6 December Certificate in Sustainability Strategy, Risk and Reporting Classes start Wednesday 8 November Due to popular demand, our Certificate in Sustainability Strategy, Risk and Reporting for accountants is back again in November 2023. Over 8 weeks, you'll cover key reporting frameworks and metrics, and learn to address the ESG opportunities and challenges that organisations already face. Network for Chartered Accountants working on ESG projects Are you a Chartered Accountant working in ESG or working on ESG-related projects? Would you like an opportunity to engage with other Chartered Accountants working in this space to share insights, challenges and opportunities? Chartered Accountants Ireland now has a network to allow members working in sustainability/ESG to meet and discuss all matters of interest re ESG and accounting. 3rd or 4th Wednesday of every month Next: 25 October 2023  14.00-15.00/30 Teams If you would like to attend please email sustainability@charteredaccountants.ie You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.    

  In this week’s Sustainability/ESG bulletin, read about the green measures announced in Budget 2024; how cost remains the main barrier to sustainability in Irish businesses; updates on the Circular Economy; the issuance of ESB’s third green bond; developments in Europe, and the usual roundup of technical updates, articles and events. Green measures announced in Budget 2024 Budget 2024 was announced this week on Tuesday 10 October. The Chartered Accountants Ireland team of experts analysed, interpreted and prepared informed, reliable commentary on the impact of this year's Budget on business in Ireland. Among the measures announced was the establishment of two funds to support climate-related initiatives over the medium and long term. Described as a ‘a gamechanger’ in addressing monetary gaps up to 2030, and a way of ‘firewalling’ major climate investment projects well into the next decade, these are: a Future Ireland Fund: a long-term savings fund with forecasted levels of contributions of c. €70 billion, or c. €6 billion per year (0.8 percent of GDP) up to 2035, to deal with future recognised expenditure pressures including ageing, climate and the digital transitions an Infrastructure, Climate & Nature Fund: a fund due to reach €14 billion by 2030, of which the climate and nature component is worth over €3 billion, to ensure that the State would have resources to support capital expenditure for projects between 2026-2030 in the event of a future downturn. The General Scheme for the funds has now been published. Further measures announced in Budget 2024 include €380 million for residential and community energy upgrades, including the Solar PV Scheme, measures related to microgeneration of electricity, reliefs related to battery electric vehicles (EVs), and the annual increase in carbon tax up from €48.50 to €56.00 (Read more) Research finds cost remains barrier to sustainability for Irish businesses The Green Business Sentiment Index, published by SSE Airtricity this week, has found that only half of businesses surveyed say that sustainability and climate change impact decision-making, down from 71 percent in 2021. The research, which was carried out among a national representative sample of 359 business owners in Ireland, aims to measure and track any change in attitude among businesses towards sustainable practices and decarbonisation since the Index was last published in 2021. The research found that cost remains the main barrier for businesses in reducing carbon footprint, and just 25 percent of Irish businesses agree that being ‘greener’ attracts more customers, down from 42 percent in 2021. 11 percent state that climate change is not at all important for businesses, whereas just 7 percent stated this in 2021, and at least 90 percent believe that it is primarily the responsibility of the Government to tackle climate change. More positively, 19 percent of businesses have incorporated solar panels into their business practices, 38 percent have incorporated smart metering into their environmental practices and the use of electric vehicles (EVs) by businesses is at its highest to date, at 15 percent. EPA publishes Circular Economy Programme Annual Report for 2022 The EPA has published a report setting out its key activities related to implementing, regulating and measuring the circular economy and waste in 2022. The Circular Economy Programme Annual Report for 2022 noted that of the €322 million spent on contracts in 2020 over €25,000, only 17 percent (€53 million), included green criteria. The EPA noted that this is “a missed opportunity to purchase more resource-efficient, less polluting goods, services and works within the marketplace.” ESB Raises €1 Billion Funding in Bond Market – including its third Green Bond The ESB Group has announced it raised €1 billion in bonds which will be used to fund its capital investment programme to deliver a net-zero future. The funds were raised through the issuance of two €500m benchmark bonds. These include a 12-year 4.25 percent fixed-rate green bond which will be allocated exclusively to finance eligible green projects, and a 5-year 4.00 percent fixed-rate bond. The issuance of the third Green Bond in five years follows on from the publication of ESB’s updated Green Bond Framework in September 2023, which reflects changes in sustainable finance best practice including aligning with the EU Taxonomy Regulation (a classification system for environmentally sustainable economic activities). Supports for women-led businesses – Northern Ireland A programme has been launched by Invest Northern Ireland (Invest NI) that aims to support women-led businesses to access support, create jobs and sell innovative products or services outside Northern Ireland. The Ambition to Grow | Supporting Women programme, supported by Women in Business Northern Ireland, will provide grant support of up to £30,000 to eligible small and medium-sized businesses that have a woman in a key decision-making position. The funding is aimed at helping to create new employment within the business and assisting with the costs of targeting markets outside Northern Ireland, technical development activities, and upskilling existing and new employees. The deadline for applications Friday, 10 November 2023. Completion of EU ‘Fit for 55' legislative package The two final pillars of the ‘Fit for 55' legislative package to deliver the EU's 2030 climate targets were adopted this week. With the adoption of the revised Renewable Energy Directive and the ReFuelEU Aviation Regulation, the EU now has legally binding climate targets covering all key sectors of the economy. The 'Fit for 55' package was tabled in July 2021 to respond to the requirements in the EU Climate Law to reduce Europe’s net greenhouse gas emissions by at least 55 percent by 2030. The final legislative package is expected to reduce EU net greenhouse gas emissions by 57 percent by 2030. The Commission also published Questions and Answers on the EU's Effort Sharing Regulation and boosting natural carbon sinks, and on Making our energy system fit for our climate targets. Separately, the European Parliament’s Committee on the Environment, Public Health and Food Safety (ENVI) has adopted its proposals to lower pollutant emissions and set battery durability requirements for passenger cars, vans, buses and trucks. Speaking about the proposals, Rapporteur Alexandr Vondra (ECR, CZ) said: “We have successfully struck a balance between environmental goals and the vital interests of manufacturers. It would be counterproductive to implement environmental policies that harm both Europe’s industry and its citizens.” Technical Updates (From our Professional Accounting team) EFRAG has announced it is recommencing the drafting of sector-specific ESRS standards. The ESRS standards are the standards s and are inviting external participants to interact with them as it commences drafting. The sectors where it is seeking participants are as follows: Agriculture, Farming and Fishing Food and Beverage Services Mining, Coal and Quarrying Motor Vehicles Oil and Gas Power Production and Energy Utilities Road Transport Textiles, Accessories, Footwear and Jewellery The International Sustainability Standards Board has congratulated the Task Force on Nature-related Financial Disclosures (TNFD) on the publication of its recommendations during New York Climate Week 2023.  The TNFD recommendations can help companies communicate nature-related risks and opportunities to investors and other stakeholders. The ISSB September 2023 Update has been issued, highlighting preliminary decisions of the International Sustainability Standards Board (ISSB). Projects affected by these decisions can be found on the work plan. The ISSB have also released their September 2023 podcast. The UK Endorsement Board has published two reports as a result of its Climate-related Matters Research Project: Climate-Related Matters: Summary of Connectivity Research A Study in Connectivity: Analysis of 2022 UK Company Annual Reports Accountancy Europe - Sustainability update – October 2023 (from our friends in Accountancy Europe) Accountancy Europe’s response to ISSB’s Agenda Consultation Ongoing trilogue negotiations on CSDDD EC seeks to adjust EU SME definition for inflation EC adopts DA on ESRS IAASB proposes a global standard for sustainability assurance IOSCO endorses ISSB standards Watch: Sustainable Supply Chains In this 15-minute chat, Institute's Sustainability Officer Susan Rossney chatted to Shane Faulkner,  KPMG's Sustainability Manager, about what why sustainable supply chains are important for SMEs, what questions SMEs might be asked by their customers and clients, and what they can do to prepare. Watch back here. Articles Less Than 1 in 3 Boards Have a Strong Understanding of ESG Risks Affecting Their Companies: PwC Survey (ESG Today) European sustainability reporting developments: what do they mean for UK companies? (ICAEW) Lego’s ESG dilemma: Why an abandoned plan to use recycled plastic bottles is a wake-up call for supply chain sustainability (The Conversation) ESG's . . . OK (The Financial Times) Why America Trails the World on Climate Fund Investing - The US has fallen far behind Europe, as well as China. But it may be waking up (Bloomberg)  Upcoming Events   Cork Student Society/Young Professionals event – Sustainability and Networking on the Apple Campus The Cork Branch of the Chartered Accountant Student Society (CASSC) is collaborating with Young Professionals Cork Society to a sustainability and networking evening in the Apple Headquarters in Cork on Thursday, 19 October. Attendees will have the opportunity network, learn about sustainability and get a tour of the Apple campus. In person: 19 October, 6pm. Women in Business (Northern Ireland) Women in Finance Women in Business is running a wide-ranging programme of female entrepreneurship events over the upcoming months. The events include sectoral networking, webinars, and training courses for essential skills. On 25 October 2023, 10am to 11:30am, a specific session on women in finance will focus on work in finance departments, small scale accountancy or work for yourself, both members and non-members are welcome to join this online event. Sustainable Finance Skillnet is offering funded training opportunities until October and November 2023 to Irish employees in the financial services sector at 30 percent of course fees (with 70 percent funding available for members of the International Sustainable Finance Centre of Excellence). A series of short, deep dive training modules on key sustainable finance topics include  •           EU Taxonomy •            Net-Zero •            SFDR (Sustainable Finance Disclosure Regulation) Book launch! Doing Good Business: How to Build Sustainable Value by Sheila Killian In Person: 19 October, 6pm, O’Mahony’s Booksellers, O’Connell St, Limerick. To celebrate the publication of Doing Good Business: How to Build Sustainable Value by Sheila Killian, Professor Finbarr Murphy, Executive Dean of the Kemmy Business School, University of Limerick will launch guide to responsible business. Wine and refreshments will be served and all are welcome. Chartered Accountants Ireland ESG Masterclass: Take your Sustainability Knowledge to the Next Level A 3-hour online masterclass providing a high-level overview of the key global, European and national regulations, standards and developments impacting sustainability governance, reporting and assurance, with an emphasis on areas highly relevant to accountants. Virtual: 26 October, 8.30-13.30, €206.25 (€165.00 Chartered Accountants Ireland Member Price) iQuest & Business Post Events The ESG Summit In person: Thursday, 9 November, Radisson Blu Royal Hotel, Golden Lane, Dublin Climate Finance Week Ireland 2023 In person and virtual: Monday, 20 November – Friday, 24 November ICAEW: ICAEW Climate Summit Virtual: 13-17 November Innovate UK:  Innovate UK's showcase for climate tech event in Northern Ireland Series of 18 'showcase for climate tech' events across the UK until September 2025. Each event focuses on a specific net zero theme or technology area. The Northern Ireland event, run in partnership with Business in the Community NI, will take place in Belfast on 6 December 2023 and will focus on digital solutions for net zero. In person: 6 December Network for Chartered Accountants working on ESG projects Are you a Chartered Accountant working in ESG or working on ESG-related projects? Would you like an opportunity to engage with other Chartered Accountants working in this space to share insights, challenges and opportunities? Chartered Accountants Ireland now has a network to allow members working in sustainability/ESG to meet and discuss all matters of interest re ESG and accounting. 3rd or 4th Wednesday of every month Next: 25 October 2023  14.00-15.00/30 Teams If you would like to attend please email sustainability@charteredaccountants.ie   You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.    

  In this week’s Sustainability/ESG bulletin, read about Chartered Accountants Ireland’s representation at the One Young World summit in Belfast. Also covered is the forecast on how climate change will impact on Ireland’s public finances, a public consultation on Green Public Procurement, the first meeting of the Department of Enterprise’s Responsible Business Forum, the New Planning and Development Bill 2023, global climate policy forecasts, new resources on sustainability for SMEs and finance teams, as well as the usual roundup of technical updates, articles and events. Chartered Accountants at One Young World Belfast 2023 Chartered Accountant Peter Gillen represented Chartered Accountants Ireland at the One Young World Summit in Belfast this week. The One Young World summit, held in Belfast this year, saw the brightest young talent from every country and sector come together to work towards accelerating social impact, debate the key issues the world faces, share ideas and experiences and work with peers to formulate and share innovative solutions. Chartered Accountants Ireland held a workshop with delegates on the final day of the summit to demonstrate how the analytical and problem-solving skills of Chartered Accountants can contribute to achieving the Sustainable Development Goals. Ireland’s public finances and the impact of climate change The Irish Fiscal Advisory Council (IFAC) has reportedly estimated that the impact of a changing climate in Ireland and globally on Ireland’s public finances could amount to annual lost revenues of 1.6 percent of gross national income (GNI). This equates to €4.4 billion in today’s terms. The estimates appeared in IFAC’s paper What Climate Change Means for Ireland's Public Finances, published this week. The paper also stated that current policy is not sufficient to meet targets. Three key areas of costs were identified as: arising from non-compliance with legally binding targets (€0.35 billion annually, rising to approximately €0.7 billion in 2030) the impact of transitioning to lower emissions on tax receipts (€2.5 billion in today’s terms) per annum by 2030 and on government expenditure (€1.6 - €3 billion in today’s terms) the physical costs associated with extreme weather events, through mitigation measures and repairing and rebuilding damaged property (0.1 percent of GNI, on average, per year) The paper, which is part of a new series of research outputs that supports the Council’s assessments of the long-term sustainability of the public finances, suggests that the reforms needed to address climate challenges will take time to plan for and enact, and recommends that the Government sets out its plans now so that the disruptions necessary will be less pronounced by introducing adjustments in a gradual and phased way rather than overnight. Public consultation on green public procurement The Minister of State with special responsibility for Public Procurement, eGovernment, Communications and the Circular Economy, Ossian Smyth, T.D., has launched a public consultation on a draft Green Public Procurement Strategy and Action Plan. ‘Green public procurement’ uses the purchasing power of the public sector to stimulate the creation and provision of more resource-efficient, less polluting goods, services and works within the marketplace. Key areas of focus in the draft Green Public Procurement Strategy and Action Plan include measures to progress Green Public Procurement implementation in the Public Sector; Green Public Procurement Monitoring and Reporting; Green Public Procurement Training and Awareness; and further development of national Green Public Procurement guidance and criteria. Submissions may be made until 5.30pm on 10 November 2023. New Planning and Development Bill 2023 receives Cabinet approval The new Planning and Development Bill 2023 received Cabinet approval this week, and, if enacted, aims to bring greater clarity, certainty and consistency to how planning decisions are made. As well as reforming aspects of planning judicial review, the Bill also introduces a new Environmental Legal Cost Scheme and a revision of Environmental Assessment provisions to ensure full compliance and alignment with EU Directives. Speaking at the announcement Minister for the Environment, Climate and Communications and Minister for Transport Eamon Ryan, T.D., stated that the Bill “will future-proof our planning system whilst balancing key pillars of the Irish planning system such as public participation and access to justice, environmental considerations and delivery of key infrastructure such as public transport, housing and renewable energy. This Bill can be a cornerstone to our sustainable and balanced development as a country.” First meeting of Responsible Business Forum The first meeting of the Department of Enterprise, Trade and Employment (DETE)’s newly established Responsible Business Forum was convened last week. The forum is made up of representatives from key business bodies, including IBEC, Business in the Community Ireland, Fáilte Ireland and the Irish Exporters Association. The forum, which aims to provide a platform to discuss specific responsible business issues and initiatives under DETE’s remit that are in place or being developed at national and EU level, will also consider how these initiatives will impact on businesses, what will be expected of businesses and supports available to them, and the positive outcomes for early adopters. Find out more on DETE’s dedicated Responsible Business webpage, and see also FCA Sheila Killian’s new book Doing Good Business – How to Build Sustainable Value, published last month by Chartered Accountants Ireland and launching at 6 pm on 19 October at O’Mahony’s Booksellers, O’Connell St, Limerick. Fiscal policy and natural resources – NCI’s pre-Budget submission Natural Capital Ireland (NCI) has issued a pre-Budget submission to Government recommending that the natural capital accounting approach be used to ensure that Ireland’s natural resources and the valuable services they provide are taken into account across fiscal policy. Read more. Research finds that more action is needed on environmental sustainability in Ireland New research from the National Economic and Social Council (NESC) has found that while Ireland is ‘thriving in many aspects’, more must be done on environmental sustainability and for the Ireland of tomorrow, especially on our climate, biodiversity, and infrastructure. NESC is the national advisory body to the Taoiseach and the Irish Government, and provides research, dialogue and advice that helps achieve  sustainable economic, social and environmental development in Ireland. Global climate policy forecast predicts ‘well below 2°C’ Paris Agreement climate goals will be met The latest forecast from the Inevitable Policy Response (IPR) has found that with global climate policies expected to be put in place in major economies between now and 2050 that the world will likely achieve the Paris Agreement goal of limiting temperature increase to ‘well below 2°C’ and continue to make efforts towards 1.5°C once temperatures peak. The Inevitable Policy Response is a Climate Transition Forecasting Consortium, set up by the Principles of Responsible Investment and others in 2018 to forecast the speed and scale of the transition to net zero. It aims to prepare institutional investors for the portfolio risks and opportunities associated with a forecast acceleration of policy responses to climate change. The forecast is informed by live tracking of over 300 climate policies over the past two years, as well as input from over 100 climate policy experts across 12 countries. Speaking about the forecast, Mark Fulton, Founder of Inevitable Policy Response stated that “Climate-induced social tipping points and the Paris Stocktake-Ratchet cycles over this decade will accelerate pressure for policy makers to deliver a well below 2C outcome. This will have huge implications for investors and investment markets.” Resources Accountancy Europe has published a 5-step starting guide to a sustainable transition for SMEs. It sets out five first steps an SME can take to begin a sustainable journey. Accounting for Sustainability (A4S) has published top tips for finance teams of financial institutions to address the challenges associated with ‘footprinting’ - focusing on data collection, methodologies, and establishing a baseline. See also their recent webinar recordings on: factoring environmental and social concerns into debt financing  the evolving sustainability reporting landscape transition planning   Carbon Brief has published a series of explainers on “carbon offsets”. Carbon Brief. See also their webinar on How can carbon offsets be reformed?, a Q&A, and a timeline of the 60-year history of carbon offsets. Did you know? The team at Euronews.Green regularly updates its list of positive environmental stories from 2023. According to Centre Director at DCU’s Centre for Climate and Society, Dave Robbins, “the longer you read, the more you’ll be convinced of the reasons to be hopeful.” Watch: Al Pacino  It's 2023, we’re down to halftime and we're losing the fight. So, we can crumble, inch by inch, or we can recommit to the SDGs. Watch the half-time speech by Al Pacino as adapted by Richard Curtis. Articles Let’s make accountants accountable for better business behaviour – Paul Druckman (Accountancy Age) John FitzGerald: Raising the price of dirty fuels drives investment in greener technologies (Irish Times) As data centres sector keeps growing, can Ireland cope?  (Irish Times) Why sustainability must be a priority for Irish firms  (Irish Times) ESG ratings: whose interests do they serve? Regulators and politicians are focusing on the accuracy, transparency and potential for conflicts of interest with sustainability scores (Financial Times) Ireland Makes Rare Decision to Deny LNG Port for Climate Reasons - The country’s top planning body turned down a proposal for a liquefied natural gas import facility, which would have helped keep the island hooked on fossil fuels for years (Bloomberg Green) Upcoming Events   ESDN: European Sustainable Development Week (ESDW) 2023 18 September – 08 October. 113 initiatives in 10 countries. Women in Business (Northern Ireland) Women in Finance Women in Business is running a wide-ranging programme of female entrepreneurship events over the upcoming months. The events include sectoral networking, webinars, and training courses for essential skills. On 25 October 2023, 10am to 11:30am, a specific session on women in finance will focus on work in finance departments, small scale accountancy or work for yourself, both members and non-members are welcome to join this online event. Sustainable Finance Skillnet is offering funded training opportunities until October and November 2023 to Irish employees in the financial services sector at 30 percent of course fees (with 70 percent funding available for members of the International Sustainable Finance Centre of Excellence). A series of short, deep dive training modules on key sustainable finance topics include  •           EU Taxonomy •            Net-Zero •            SFDR (Sustainable Finance Disclosure Regulation) Chartered Accountants Ireland: Ask the Expert, Supply chain sustainability (ROI/NI) In this 15-minute chat, Institute's Sustainability Officer Susan Rossney will talk to Shane Faulkner,  KPMG's Sustainability Manager, about what a sustainable supply chain looks like, what questions SMEs might be asked by their customers and clients, and how they might respond. Virtual: 12 October, 12:45-13.00 Department of Enterprise, Trade and Employment: Building Better Business in the West The Department of Enterprise, Trade and Employment is holding a free business event in Ballina which will focus on the opportunities and challenges presented by the green economy and digital transformation. In person: 13 October, Ballina Arts Centre, Barrett Street, Ballina, Co Mayo, F26 NW83 Book launch! Doing Good Business: How to Build Sustainable Value by Sheila Killian In Person: 19 October, 6pm, O’Mahony’s Booksellers, O’Connell St, Limerick. To celebrate the publication of Doing Good Business: How to Build Sustainable Value by Sheila Killian, Professor Finbarr Murphy, Executive Dean of the Kemmy Business School, University of Limerick will launch guide to responsible business. Wine and refreshments will be served and all are welcome. Chartered Accountants Ireland ESG Masterclass: Take your Sustainability Knowledge to the Next Level A 3-hour online masterclass providing a high-level overview of the key global, European and national regulations, standards and developments impacting sustainability governance, reporting and assurance, with an emphasis on areas highly relevant to accountants. Virtual: 26 October, 8.30-13.30, €206.25 (€165.00 Chartered Accountants Ireland Member Price) Climate Finance Week Ireland 2023 In person and virtual: Monday, 20 November – Friday, 24 November ICAEW: ICAEW Climate Summit Virtual: 13-17 November Network for Chartered Accountants working on ESG projects Are you a Chartered Accountant working in ESG or working on ESG-related projects? Would you like an opportunity to engage with other Chartered Accountants working in this space to share insights, challenges and opportunities? Chartered Accountants Ireland now has a network to allow members working in sustainability/ESG to meet and discuss all matters of interest re ESG and accounting. 3rd or 4th Wednesday of every month Next: 25 October 2023  14.00-15.00/30 Teams If you would like to attend please email sustainability@charteredaccountants.ie   You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.    

  In this week’s Sustainability/ESG bulletin, read about the trial phase of the EU Carbon Border Adjustment Mechanism (CBAM), the launch of a UN Charter promoting gender equality in sustainable finance, a public consultation on Ireland’s EV Charging Network Plan and the first meeting of the Just Transition Commission. Also covered is the launch of the annual Low Carbon Pledge report by BITCI, reports by the EPA into Ireland’s commercial waste and air quality, calls by the European Commission for Ireland to review its flood risk management plans and a new programme in Northern Ireland to support women-led businesses, as well as the usual roundup of technical updates, articles and events. Trial phase of EU carbon border adjustment mechanism (CBAM) The trial phase of new EU carbon border adjustment mechanism (CBAM) will begin on Sunday 1 October, and will be phased in fully from 2026 until 2034. CBAM aims to incentivise non-EU countries to increase their climate ambition and to ensure that EU and global climate efforts are not undermined by production being relocated from the EU to countries with less ambitious policies. Importers of the goods covered by CBAM would have to pay any price difference between the carbon price paid in the country of production and the price of carbon allowances in the EU Emissions Trading System (EU ETS). It will initially apply to imports of certain goods whose production is carbon intensive and at most significant risk of carbon leakage; namely cement, iron and steel, aluminium, fertilisers, electricity and hydrogen. To give time for businesses to prepare, during the phase, from 1 October 2023 until the end of 2025, traders will only have to report on the emissions embedded in their imports subject to the mechanism without paying any financial adjustment. The CBAM will be phased in at the same speed as the free allowances in the EU ETS are being phased out. According to the European Commission’s estimates when the levy was first proposed, CBAM was estimated to generate about €1.5 billion (2018 prices) per year as of 2028. More information can also be found on revenue.ie Launch of UN charter promoting gender equality in sustainable finance A new United Nations Charter aimed at promoting gender equality in the area of sustainable finance was launched in Ireland this week. The Gender Finance Charter, which defines 10 fundamental principles offering a “pragmatic and actionable framework”, was launched by the Financial Centres for Sustainability (FC4S) network, a global network of 40 financial centres, working together to achieve the objectives set by the 2030 Agenda and the Paris Agreement. Speaking at the launch Minister of State at the Department of Finance of Ireland, Jennifer Carroll MacNeill, T.D., stated “This Gender Finance Charter is of global significance in financial services …[and] has the potential to significantly advance gender equality, not just in financial services, but more broadly across the globe.” EPA reports on commercial waste and air quality The Environmental Protection Agency (EPA) has published its latest National Municipal Waste Characterisation Project, which reveals that Ireland’s commercial, as well as household, waste management practices have seen little change since 2018, with businesses and householders still putting the majority (over two-thirds) of their waste into the general waste bins instead of recycling and organic bins. The report found that urgent action is needed to improve Ireland’s segregation and recycling performance to achieve municipal recycling rate targets and transition to a circular economy. Separately, the Environmental Protection Agency (EPA) has also published its annual air quality report Air Quality in Ireland 2022. The report shows that while air quality in Ireland is generally good and compares favourably with many European countries, there are localised issues which lead to poor air quality. An estimated approximately 1,300 premature deaths annually in Ireland are due to poor air quality from fine particulate matter (PM2.5), the report stated. The EPA continually monitors air quality across Ireland and provides the air quality index for health and real-time results, updated hourly on the website. Public Consultation on the National En-Route EV Charging Network Plan opens The Minister for Transport, Eamon Ryan, T.D., has launched a public consultation on the National En-Route EV Charging Network Plan. Developed by Zero Emission Vehicles Ireland (ZEVI), a dedicated office of the Department of Transport, the Plan identifies the level of charging infrastructure required for the national road network to keep ahead of the needs of the quickly growing EV driver population. Aiming to see chargers installed every 60km on major roads, the Plan is an important step in delivering the National Electric Vehicle Charging Infrastructure Strategy 2022-2025, which launched earlier this year. The closing date for responses is 5.00pm on 10 November. First meeting of Ireland’s Just Transition Taskforce The first meeting of the Just Transition Taskforce has taken place this week. The establishing of a Just Transition Taskforce in order to provide advice to the government was recommended by the Climate Action Plan 2023, the ‘roadmap for meeting Ireland’s climate targets. The Taskforce will engage with representatives of business and employers’ organisations, trade unions, and other organisations, in order to develop recommendations regarding the role and structure of the Just Transition Commission to the Minister of the Minister for the Environment, Climate and Communications, Eamon Ryan, TD. Just Transition refers to the need to have a fair transformation to a low-carbon economy and to ensure that employment and jobs in the new economy are as decent and as well-paid as those left behind. Need for all sectors to work collectively to address climate change The annual PwC report on the Business in the Community Ireland (BITCI) ‘Low Carbon Pledge’ which published this week, has found that more businesses are escalating their focus on sustainability and prioritising decarbonisation across all areas of their operations. The report, which is now in its fifth year, found that 80 percent of companies are on track to setting science-based targets for decarbonisation, although there is an urgency on some to be more proactive in setting their targets and reducing their emissions, particularly around scope 3 emissions and in taking action on the nature crisis. Speaking at the launch of the report, Minister for the Environment, Climate and Communications, Eamon Ryan, T.D. stated “[i]f we are to address climate change and start to turn the tide on the devastating scenes we have seen across the globe recently, we need to work collectively, across all sectors, including business”. Programme launched to support women-led businesses in Northern Ireland Invest Northern Ireland (Invest NI) is launching a programme to support women-led businesses to access support, create jobs and sell innovative products or services outside Northern Ireland. The Ambition to Grow - Supporting Women programme will provide grant support of up to £30,000 to eligible small and medium-sized businesses that have a woman in a key decision-making position. The funding is aimed at helping to create new employment within the business and assisting with the costs of targeting markets outside Northern Ireland, technical development activities, and upskilling existing and new employees. European Commission calls on Ireland to review flood risk management plans The European Commission has announced it is calling on eight Member States, including Ireland, to finalise the review of their river basin management plans as required under the Water Framework Directive (Directive 2000/60/EC) and/or the flood risk management plans as required under the Floods Directive. EU water legislation must be fully implemented to reach the EU's circular economy, biodiversity, zero pollution and climate change ambitions. Ireland has two months to respond and take the necessary measures, or the Commission may decide to refer the Member States to the Court of Justice of the European Union. The damage flooding can cause to businesses and infrastructure, such as transport or utilities like electricity, gas and water supply, can have significant detrimental impacts on individuals and businesses and local and regional economies. Net zero commitments and transition finance The US Treasury has released new principles for financial institutions making voluntary net-zero commitments. The news comes as the first-ever Climate Resilience Summit is announced by the White House, with the United States releasing it National Climate Resilience Framework. The Framework is described as a vision for a ‘climate resilient nation’, “to guide and align climate resilience investments and activities by the Federal government and its partners”. Among the actions also announced this week was the awarding or availability of more than $500 million in dedicated funding to achieve the vision. According to the International Energy Agency, fossil fuel demand must reportedly fall by a quarter by the end of this decade if governments want to limit the rise in global warming to 1.5C since the pre-industrial period. Separately, the Glasgow Financial Alliance for Net Zero (GFANZ) has announced the launch of a public consultation on, among other things, its work to refine the definition of ‘transition finance’. GFANZ, the global coalition of leading financial institutions committed to accelerating the decarbonization of the economy, was set up during the Climate Summit ‘COP26’ in Glasgow in November 2021. IFAC’s Sustainability & Accountancy Education Survey  The International Federation of Accountants (IFAC) held an event during Climate Finance Week in New York last week to demystify GHG reporting and to help accounting and finance professionals take immediate steps to ensure their organization’s data is in order and ready to report robust information when the new standards and rules go into effect. Panellists shared insights from finance, reporting, audit and assurance and data perspectives. Watch the recording and access related resources. Separately, IFAC is surveying professional accountants on sustainability and accounting education. The survey by the International Panel on Accountancy Education aims to gather insights on what is needed to ensure current and future professional accountants are equipped to play their part in in the sustainability discussion. What is a sustainable supply chain? On 12 October, Institute's Sustainability Officer Susan Rossney will interview Shane Faulkner, KPMG's Sustainability Manager, about what a sustainable supply chain looks like, what questions SMEs might be asked by their customers and clients, and how they might respond. Click here to register for free . Did you know? Around the world, there are reportedly more than 2,300 pending or decided climate cases. In one case, nine small island states have taken a case to the UN maritime court to seek protection for the world’s oceans against climate change, and six young people, represented by Irish lawyers, are taking 32 countries to court over climate inaction. Articles How will the EU carbon border adjustment mechanism affect UK businesses? (ICAEW) Business braced for red tape from EU carbon border tax (Financial Times)  Adopting the TNFD framework needn’t be a challenge (ICAEW) Law to tackle human trafficking in company supply chains proposed  (Business Post) Sustainable Beer? Breweries Where Great Taste, Eco-Friendliness Go Together (Newsweek) Certificate in Sustainability Strategy, Risk and Reporting Classes start Wednesday 5 October Following four sellout sittings, our Certificate in Sustainability Strategy, Risk and Reporting for accountants is back again in October 2023. Over 8 weeks, you'll cover key reporting frameworks and metrics, and learn to address the ESG opportunities and challenges that organisations already face. Upcoming events   Dublin Chamber – Sustainability Academy Workshops Dublin Chamber has announced it will offer Sustainability Academy workshops in Autumn. Beginning with a workshop on Sustainability/ESG 101 in September, the 3-hour Zoom workshops includes a free one-hour, post-workshop one-on-one advisory consultation per company with an expert advisor. Find out more here. Online, September 2023  ESDN: European Sustainable Development Week (ESDW) 2023 18 September – 08 October. 113 initiatives in 10 countries.  Women in Business (Northern Ireland) Women in Finance Women in Business is running a wide-ranging programme of female entrepreneurship events over the upcoming months. The events include sectoral networking, webinars, and training courses for essential skills. A specific session on women in finance will focus on work in finance departments, small scale accountancy or work for yourself, both members and non-members are welcome to join this online event. Virtual: 25 October, 10.00-11.30am Sustainable Finance Skillnet is offering funded training opportunities until October 2023 to Irish employees in the financial services sector at 30 percent of course fees (with 70 percent funding available for members of the International Sustainable Finance Centre of Excellence). Virtual: September-October 2023  Accountancy Europe: Preparing for high-quality sustainability assurance engagements In person: 3 October, 14.00-17.00, ACE events - Av. d'Auderghem 22, 1040 Brussels Chartered Accountants Ireland: Ask the Expert, Supply chain sustainability (ROI/NI) In this 15-minute chat, Institute's Sustainability Officer Susan Rossney will talk to Shane Faulkner,  KPMG's Sustainability Manager, about what a sustainable supply chain looks like, what questions SMEs might be asked by their customers and clients, and how they might respond. Virtual: 12 October, 12:45-13.00 Climate Finance Week Ireland 2023 In person and virtual: Monday, 20 November – Friday, 24 November Network for Chartered Accountants working on ESG projects Are you a Chartered Accountant working in ESG or working on ESG-related projects? Would you like an opportunity to engage with other Chartered Accountants working in this space to share insights, challenges and opportunities? Chartered Accountants Ireland now has a network to allow members working in sustainability/ESG to meet and discuss all matters of interest re ESG and accounting. 3rd or 4th Wednesday of every month Next: 25 October 2023  14.00-15.00/30 Teams If you would like to attend please email sustainability@charteredaccountants.ie   You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.    

  In this week’s Sustainability/ESG bulletin, read about the release of the final recommendations of the Taskforce on Nature-related Financial Disclosures (TNFD) for reporting on nature and biodiversity-related risks and opportunities. Also covered is Ireland’s signing of a landmark UN oceans agreement, the publication of the Department of Transport’s Climate Action Roadmap, public sector funding for climate action, a €500 million Growth and Sustainability Loan Scheme, EU developments on greenwashing, and a webinar on the proposed International Standards on Sustainability Assurance, as well as the usual roundup of tax and technical updates, articles and events. Taskforce on Nature-related Financial Disclosures (TNFD) releases final recommendations The Taskforce on Nature-related Financial Disclosures (TNFD) has released its final recommendations for reporting on nature and biodiversity-related risks and opportunities. The publication of the 14 disclosure recommendations has been described as “key milestone in the relationship between nature, business and financial capital, positioning nature risk alongside financial, operational and climate risk and helping to shift capital flows to nature-positive outcomes.”  The TNFD will now begin the process of encouraging and supporting voluntary market adoption of the Recommendations and will track voluntary market adoption annually through an annual status update report beginning in 2024. Tánaiste signs landmark UN oceans agreement The Tánaiste, Minister for Foreign Affairs, and Minister for Defence, Micheál Martin TD, has signed a landmark international agreement on global ocean conservation at the United Nations in New York. The Agreement on Marine Biodiversity Beyond National Jurisdiction (BBNJ), which will provide for the creation of a global network of High Seas marine protected areas (MPAs), marks a significant milestone in international cooperation as the first dedicated global treaty on the conservation and sustainable use of marine biodiversity of the High Seas. The news comes during the 78th session of the United Nations General Assembly, which marks a crucial milestone in the journey towards achieving the 2030 Agenda and putting the 17 Sustainable Development Goals (SDGs) back on track. It is also seen as a milestone in the lead-up to COP28, the international climate summit which this year takes place in Dubai in November and December. Ireland is expected to play a leading role at this summit in negotiating for accelerated action on climate and the transition to renewable energy. Department of Transport publishes Climate Action Roadmap 2023 - 2030 The Department of Transport has published a Climate Action Roadmap setting out an analysis of its 2030 greenhouse gas emissions-reduction target and identifying current and planned actions to bridge any gaps between now and 2030. The roadmap, which was developed with the support of the Sustainable Energy Authority of Ireland (SEAI), reflects one of the goals of the Climate Action Plan 2021 (CAP21) that the public sector lead by example on climate action to reach the target of reducing Ireland’s greenhouse gas emissions by 51 percent by 2030 and becoming climate neutral no later than 2050. Public sector funding for climate action in Ireland’s regions The Minister for the Environment, Climate and Communications, Eamon Ryan TD, has committed to provide funding over the next six years for Ireland’s Climate Action Regional Offices (CAROs), including €2.97 million for the Dublin area, €3.09 million for the Eastern and Midlands region, and €2.97 million for the North-west region. The funding will help local authorities to deliver climate policies and behavioural change within their own organisations and to empower citizens, businesses and neighbourhoods to better understand the impacts of climate change and to embrace the need for climate action. €500 million Growth and Sustainability Loan Scheme Bank of Ireland has announced a €500 million Growth and Sustainability Loan Scheme, which will provide eligible SMEs, including farmers, fishers, and Small Mid-Caps, with competitively priced loans of between €25,000 and €3 million for terms of up to ten years. Loans of up to €500,000 will also be available unsecured, when investing in the growth and resilience of their business, and/or contribute to climate action and environmental sustainability. Loans for climate action and environmental sustainability purposes will also benefit from an additional interest rate discount. EU developments: greenwashing, product durability, critical raw materials and air quality   The EU Parliament and Council have reached a provisional agreement on new rules to ban misleading advertisements and provide consumers with better product information. The agreement updates the existing EU list of banned commercial practices and adds to it several ‘problematic’ marketing habits related to greenwashing and early obsolescence of goods. MEPs are expected to vote in November for the provision deal to become law and member states will have 24 months to incorporate the new rules into their law once the directive comes into force.   Separately, MEPs have adopted their position on boosting the supply of strategic raw materials, crucial to secure the EU’s transition to a sustainable, digital and sovereign future. The Critical Raw Materials Act is intended to make the EU more competitive and autonomous, cutting cut red tape, promoting innovation along the entire value chain, supporting SMEs and boosting research and the development of alternative materials and more environmentally friendly mining and production methods.   The EU Parliament has also adopted its position on a revised law to improve air quality in the EU. The new rules would ensure air quality in the EU is not harmful to human health, natural ecosystems and biodiversity and would align EU rules with the most recent World Health Organization (WHO) Air Quality Guidelines. Parliament will next start negotiations with Council on the final shape of the law.   Webinar on the proposed International Standards on Sustainability Assurance IAASB has announced it will hosting a deep dive webinar on 29 September about (ISSA) 5000. External assurance plays a key role in enhancing trust and confidence in financial and non-financial reporting, and the International Auditing and Assurance Standards Board (IAASB)’s proposed standard - International Standard on Sustainability Assurance (ISSA) 5000 - will serve as a comprehensive, stand-alone standard suitable for any sustainability assurance engagement. Read more from our colleagues in Professional Accounting. Technical updates (From our colleagues in Professional Accounting) Accountancy Europe, in collaboration with the European Sustainable Business Federation, has issued ‘5-step starting guide to a sustainable transition for SMEs. This paper has five first steps an SME can take to begin its sustainable journey.   EFRAG and the Global Reporting Initiative (GRI) have issued a joint statement confirming that they have achieved a high level of interoperability between their respective standards in relation to impact reporting.   EFRAG has published its final comment letters on the ISSB consultation on Agenda Priorities and SASB methodology. Tax updates (From our colleagues in Tax) The Platform for Collaboration on Tax (PCT) – a joint initiative of the IMF, OECD, UN and World Bank Group – released a new report on carbon pricing metrics. The purpose of the report is to help policymakers, businesses and other stakeholders strengthen the understanding of different carbon pricing metrics of the largest international organisations.  In the report, the PCT Partners concur on a crucial message: “Energy prices are poorly aligned with climate, environmental and health costs. Carbon pricing signals to date are insufficient.”  A definition of carbon pricing can be found in the Chartered Accountants Ireland Sustainability Glossary. Articles Q&A: How sustainable is Ireland as a data centre hub? (Irish Times) ‘B Corp’ status vital for firms keen to mark sustainability credentials, says environmental consultant (Irish Times) Helping to make SMEs smarter, leaner and greener (Irish Independent) What Sunak’s net zero pivot means for UK climate goals and the next election (Financial Times) No 'urban-rural divide' on environmental protection, committee told (RTÉ) Certificate in Sustainability Strategy, Risk and Reporting Classes start Wednesday 5 October Following four sellout sittings, our Certificate in Sustainability Strategy, Risk and Reporting for accountants is back again in October 2023. Over 8 weeks, you'll cover key reporting frameworks and metrics, and learn to address the ESG opportunities and challenges that organisations already face. Upcoming events   Dublin Chamber – Sustainability Academy Workshops Dublin Chamber has announced it will offer Sustainability Academy workshops in Autumn. Beginning with a workshop on Sustainability/ESG 101 in September, the 3-hour Zoom workshops includes a free one-hour, post-workshop one-on-one advisory consultation per company with an expert advisor. Find out more here. Online, September 2023  ESDN: European Sustainable Development Week (ESDW) 2023 18 September – 08 October. 113 initiatives in 10 countries. Irish Museum of Modern Art: EARTH RISING Four-day festival of free events and experiences aimed at addressing the climate crisis and aiming to provoke, empower and inspire collective action in audiences to become agents of change for a sustainable and hopeful future.~ In person: 21–24 September, IMMA site, Royal Hospital Kilmainham, Dublin 8, D08 FW31. EPA: Circular Economy Conference This hybrid event will be an opportunity to learn about recent developments in the circular economy and the opportunities and challenges in implementing a circular economy in Ireland. There will be opportunities to network and participate in polling and Q&A sessions. In person: 27 September, The Aviva Stadium, Dublin. Green Team Network: ESG Networking Breakfast An intensive session tailored for Ireland's industry leaders seeking to understand and act upon the financial implications of climate change, this event aims to bridge the gap between climate financial risk and sustainability education. In person: 27 Sept, 08:00 – 9:45, Dean Hotel, 33 Harcourt St, Saint Kevin's, Dublin 2, Ireland. Chartered Accountants Ireland: Integrating sustainability into information systems and decision making This course will deliver core knowledge about how to integrate sustainability data into the decision-making process. Virtual: 27 September, 09:30 – 12:30 Women in Business (Northern Ireland) Women in Finance Women in Business is running a wide-ranging programme of female entrepreneurship events over the upcoming months. The events include sectoral networking, webinars, and training courses for essential skills. A specific session on women in finance will focus on work in finance departments, small scale accountancy or work for yourself, both members and non-members are welcome to join this online event. Virtual: 25 October, 10.00-11.30am Sustainable Finance Skillnet is offering funded training opportunities until October 2023 to Irish employees in the financial services sector at 30 percent of course fees (with 70 percent funding available for members of the International Sustainable Finance Centre of Excellence). Virtual: September-October 2023 IAASB: Webinar of Proposed International Standard on Sustainability Assurance (ISSA) 5000 to the IAAS Join the Irish Auditing & Accounting Supervisory Authority (IAASA) and IAASB webinar to hear about ISSA 5000 Proposed International Standards on Sustainability Assurance Webinar: 29 September, 14.00 Dublin time Accountancy Europe: Preparing for high-quality sustainability assurance engagements In person: 3 October, 14.00-17.00, ACE events - Av. d'Auderghem 22, 1040 Brussels Chartered Accountants Ireland: Ask the Expert, Supply chain sustainability (ROI/NI) Under the Corporate Sustainability Reporting Directive (CSRD), many SMEs will form part of the supply chains of companies that are required to report on their supply chain’s sustainability. In this interview, Shane Faulkner, Sustainability Manager at KPMG Ireland, will answer your questions on supply chain sustainability, questions SMEs might be asked and how they might respond. Virtual: 12 October, 12:45-13.00 Climate Finance Week Ireland 2023 In person and virtual: Monday, 20 November – Friday, 24 November Network for Chartered Accountants working on ESG projects Are you a Chartered Accountant working in ESG or working on ESG-related projects? Would you like an opportunity to engage with other Chartered Accountants working in this space to share insights, challenges and opportunities? Chartered Accountants Ireland now has a network to allow members working in sustainability/ESG to meet and discuss all matters of interest re ESG and accounting. 3rd or 4th Wednesday of every month Next: 27 September 2023  14.00-15.00/30 Teams If you would like to attend please email sustainability@charteredaccountants.ie   You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.    

  In this week’s Sustainability/ESG bulletin, read about a policy workshop on sustainable finance and biodiversity, CSO figures showing continued growth in the number of electric vehicles licensed in Ireland, and new public sector funding for climate action. Also covered is the new Ireland-UK energy cooperation agreements, a report showing how 80 percent of UK businesses are ‘unprepared’ for reporting requirements under CBAM, and the usual roundup of technical updates, articles and events. Sustainable finance and biodiversity Last week, Institute’s Sustainability Officer Susan Rossney spoke at the South-East Technological University and Queen's University Belfast Policy Workshop Addressing Biodiversity Loss with Sustainable Financial Solutions. The provision of finance is crucial for achieving the ambitious goals set out in the Kunming-Montreal Global Diversity Framework and the EU’s 2030 Biodiversity Strategy. Opened by Minister of State for Heritage and Electoral Reform Malcolm Noonan, TD, this fact-finding workshop was among several organised to explore how sustainable finance solutions can address biodiversity loss on the island of Ireland. Other speakers included Dr John Finn, Teagasc; Lucy Gaffney, Business for Biodiversity in Ireland; Paul Harris, Bank of Ireland and Dr Shane McGuinness, University College Dublin. Ireland and UK signs new energy cooperation agreements Minister for the Environment, Climate and Communications, Eamon Ryan, T.D., has signed two new Memorandums of Understanding (MoU) with Claire Coutinho, the UK Secretary of State for Energy Security and Net Zero, at the Department for Energy Security and Net Zero (DESNZ). The MoUs will increase cooperation for developing offshore renewable energy, explore further electricity interconnection opportunities and enhance security of gas supplies. The announcement comes as the Taoiseach Leo Varadkar T.D. and Minister Ryan met with Ireland’s four largest Energy Retailers this week to reiterate the Government's concern at persistently high energy prices and to discuss how customers could be best supported for the coming winter. Separately, a public consultation has been launched by the Department of the Environment, Climate and Communications to help inform the design and delivery of a ‘Private Wires’ policy, to be launched in 2024, and which provides a potential off-grid solution for the generation and supply of electricity. Growth continues in number of electric vehicles licensed in Ireland The Department of Transport has published its new Statement of Strategy 2023 –2025, which includes a focus on ‘Sustainability: Economy, Environment and Society’. The strategy was published as figures from the Central Statistics Office (CSO) reveal that in the first eight months of 2023, 19 percent of all new cars licensed for the first time were electric, compared with 13 percent in the same period in 2022. Public sector funding for climate action in Ireland’s southern region The Minister for the Environment, Climate and Communications, Eamon Ryan TD, has committed to provide €2.9 million to support the Climate Action Regional Office (CARO) in the southern region over the next six years. The funding will help local authorities to deliver climate policies and behavioural change within their own organisations and to empower citizens, businesses and neighbourhoods to better understand the impacts of climate change and to embrace the need for climate action. CSO publishes Gender Balance in Business Survey 2023 The Central Statistics Office (CSO) has released Gender Balance in Business 2023 which provides statistics on gender representation in top management teams and Boards of Directors in Ireland. Findings included that one in four members of Boards of Directors in Ireland were female, up from almost 22 percent in 2021, and that female Chairpersons increased from 14 percent to almost 19 percent over the same period. Transforming the profession – the future of accountancy This week marks 15 years of the Accounting for Sustainability (A4S) Accounting Bodies Network. The ABN was established to support the global professional accounting bodies to share knowledge, collaborate to overcome common barriers, and champion the need for change within the accounting community. To mark this milestone, member bodies, including Chartered Accountants Ireland, have collaborated on a project to explore how the future of the profession can, and is, transforming to help build and support a sustainable economy. Transforming the profession – the future of accountancy focuses on three areas – skills, systems and technology. UK businesses ‘unprepared’ for EU trade 80 percent of UK manufacturers who are also exporters have no knowledge of the Carbon Border Adjustment Mechanism (CBAM), according to new research carried out by the British Chambers of Commerce. The research – which surveyed over 700 SMEs – reportedly found that the majority of SMEs are unaware of reporting requirements under CBAM, under which EU companies must compile reports on the carbon emissions attached to some imported goods, including steel, aluminium and fertilisers, from October 2023. Businesses will have to buy certificates to cover pollution embedded in products from 2026. This lack of knowledge and preparation for the changes indicates that some traders with the EU may face a new delays and unexpected costs. In some cases, exporters could also find their goods unable to be transited to EU customers. Find out more about CBAM here. MEPs back plans to boost use of renewable energy The European Parliament has voted to boost the deployment of renewable energy, in line with the Green Deal and REPowerEU plans. The update of the Renewable Energy Directive (RED), already agreed upon between MEPs and Council, raises the share of renewables in the EU’s final energy consumption to 42.5 percent by 2030, and member states should strive to achieve 45 percent. There will be faster approval procedure for deploying renewables, and new fuels in the transport sector should lead to a 14.5 percent reduction of its greenhouse gas emissions. The legislation will now have to be formally endorsed by Council in order to come into law. Taking stock of the Sustainable Development Goals This week saw the launch of a report bringing together the results from the first UN Global Stocktake, since the Paris agreement was signed in 2015. This goal of the Paris Agreement is to limit global warming to 1.5°C above pre-industrial levels, and to scale up climate finance. To measure progress against this goal, the global stocktake examines the efforts of Paris Agreement signatories to cut their carbon emissions, adapt to climate change, and mobilise finance and technology to help poorer nations respond to the crisis. Representing the culmination of two years’ work, the report provides critical information for countries and stakeholders to identify what needs to be done, any remaining gaps and opportunities for increased action. The report will be discussed at COP28, the annual global climate summit which takes place this year in November in Dubai.  Articles Cost ‘a barrier’ to sustainable product choices for 2 in 5 people, survey finds (Irish Times) Why did the EPA delete a tweet about eating meat? (Irish Times) NHS website records 552 percent surge in heat exhaustion queries (The Guardian) A really simple guide to climate change (BBC News) What to Watch at COP28 (Bloomberg Green) Small islands take case to protect oceans from climate change to UN court (The Journal) John Walsh: GDP is out of date – it’s time we found another way to measure economic growth (The Business Post)  Certificate in Sustainability Strategy, Risk and Reporting Classes start Wednesday 5 October Following four sellout sittings, our Certificate in Sustainability Strategy, Risk and Reporting for accountants is back again in October 2023. Over 8 weeks, you'll cover key reporting frameworks and metrics, and learn to address the ESG opportunities and challenges that organisations already face. Upcoming events   Dublin Chamber – Sustainability Academy Workshops Dublin Chamber has announced it will offer Sustainability Academy workshops in Autumn. Beginning with a workshop on Sustainability/ESG 101 in September, the 3-hour Zoom workshops includes a free one-hour, post-workshop one-on-one advisory consultation per company with an expert advisor. Find out more here. Online, September 2023  Business Post LIVE/iQuest: Energy Transition Summit In person: 19 September, Croke Park, Dublin ESDN: European Sustainable Development Week (ESDW) 2023 18 September – 08 October. 113 initiatives in 10 countries. IFAC & WMBC: Achieving Investor-Grade GHG Reporting: The Role of Accounting and Finance Professionals Virtual: 19 September, 9:00am ET for Climate Week NYC Chartered Accountants Ireland Virtual CPD Update – Career Progression and Transition (ROI/NI) Morning plenary session followed afternoon sessions, run and delivered by the District Societies, including the Western Society session on Sustainability and ESG Reporting (Catherine Duggan, Orla Carolan, Peter Gillen, Susan Rossney). Irish Museum of Modern Art: EARTH RISING Four-day festival of free events and experiences aimed at addressing the climate crisis and aiming to provoke, empower and inspire collective action in audiences to become agents of change for a sustainable and hopeful future.~ In person: 21–24 September, IMMA site, Royal Hospital Kilmainham, Dublin 8, D08 FW31. DETE: Building Better Businesses North-East Event, Dundalk Institute of Technology The latest in the series of Building Better Business events organised by DETE across the country to help businesses focus on the opportunities and challenges presented by the green economy and digital transformation. This event is open to businesses based in the North East. In person: 22 September, 9.00 - 1.00 -  Multi-Purpose Centre (MPC), Faulkner Building, Dundalk Institute of Technology. EPA: Circular Economy Conference This hybrid event will be an opportunity to learn about recent developments in the circular economy and the opportunities and challenges in implementing a circular economy in Ireland. There will be opportunities to network and participate in polling and Q&A sessions. In person: 27 September, The Aviva Stadium, Dublin. Green Team Network: ESG Networking Breakfast An intensive session tailored for Ireland's industry leaders seeking to understand and act upon the financial implications of climate change, this event aims to bridge the gap between climate financial risk and sustainability education. In person: 27 Sept, 08:00 – 9:45, Dean Hotel, 33 Harcourt St, Saint Kevin's, Dublin 2, Ireland Women in Business (Northern Ireland) Women in Finance Women in Business is running a wide-ranging programme of female entrepreneurship events over the upcoming months. The events include sectoral networking, webinars, and training courses for essential skills. A specific session on women in finance will focus on work in finance departments, small scale accountancy or work for yourself, both members and non-members are welcome to join this online event. Virtual: 25 October, 10.00-11.30am Sustainable Finance Skillnet is offering funded training opportunities until October 2023 to Irish employees in the financial services sector at 30 percent of course fees (with 70 percent funding available for members of the International Sustainable Finance Centre of Excellence). Virtual: September-October 2023 Accountancy Europe: Preparing for high-quality sustainability assurance engagements In person: 3 October, 14.00-17.00, ACE events - Av. d'Auderghem 22, 1040 Brussels Climate Finance Week Ireland 2023 In person and virtual: Monday, 20 November – Friday, 24 November Network for Chartered Accountants working on ESG projects Are you a Chartered Accountant working in ESG or working on ESG-related projects? Would you like an opportunity to engage with other Chartered Accountants working in this space to share insights, challenges and opportunities? Chartered Accountants Ireland now has a network to allow members working in sustainability/ESG to meet and discuss all matters of interest re ESG and accounting. 3rd or 4th Wednesday of every month Next: 27 September 2023  14.00-15.00/30 Teams If you would like to attend please email sustainability@charteredaccountants.ie   You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.    

Sustainability is one of the biggest challenges facing businesses today. In her new book, Doing Good Business: How to Build Sustainable Value, UL Associate Professor Sheila Killian sets out the core pillars of what it means to be a truly sustainable business. She discusses the fast-changing responsibilities of business, the emergence of sustainable and profitable business models, and how climate change and human rights affect all companies, large and small. Doing Good Business provides guidance on the principles of sustainability, related reporting, community engagement, governance, and employee issues as well as environmental initiatives.  Find out more in our bookshop.  

In this week’s Sustainability/ESG bulletin, read how the Irish Government earned a C+ on progress against its climate and environmental commitments under the Programme for Government. Also covered is the increased calls for Government support for climate literacy for businesses, the publication of legislation addressing energy-sector windfall profits, the Chartered Accountants Worldwide Delegation planned for One Young World Summit in Belfast, and the usual roundup of technical updates, articles, resources and events. C+ for Irish Government on climate progress Ireland has been given an overall C+ grade by leading Irish academics for making only ‘moderate progress’ on the climate and environmental commitments in its Programme for Government. The grade was given as part of a project commissioned by the Friends of the Earth Ireland, which marked the Government out of 10 in nine key subject areas. For the first time, key commitments in the ‘Climate’, ‘Nature & Biodiversity’ and ‘Drinking & Waste Water’ categories were identified as in danger of not being achieved during the Government’s term. Calls for Government supports for climate literacy among businesses The report from March 2023’s National Youth Assembly on Climate has recommended, among other things, that the Government supports businesses that make efforts to repair and reuse products, introduces a climate education programme for all ages, and develops a cohesive media and communications strategy around climate action. Recommendations from the report, which published this week, will be considered for inclusion in Ireland’s Climate Action Plan 2024.   The Climate Conversation 2022, also published this week, finds that the public believe that businesses and enterprises have an important role to play in delivering climate action. It also finds that the public, while supporting stronger regulations on emissions and stricter reporting requirements, largely feel that companies – particularly SMEs – require increased support from the Government to improve their climate literacy and reduce emissions. Legislation addressing energy-sector windfall profits publishes The Minister for the Environment, Climate and Communications, Eamon Ryan, T.D., has announced the publication of the Energy (Windfall Gains in the Energy Sector) (Cap on Market Revenues) Bill. This Bill provides for a cap on the market revenues generated by non-gas generators in the wholesale electricity market between 1 December 2022 to 30 June 2023 inclusive, as set out in Council Regulation (EU) 2022/1854. The estimated proceeds, which are in the range €80 - €150 million, will be retained and used in the electricity sector to provide financial supports to households and businesses affected by high energy prices. The Bill contains the timelines under which companies are required to make formal declarations and payments to the Commission for Regulation of Utilities (CRU): 30 November (submission of formal declaration) and 31 December 2023 (payment). ­Empower Change: Meet the Chartered Accountants Worldwide Delegation heading to Belfast for this year’s One Young World Summit Chartered Accountants Worldwide (CAW) is sending its annual global delegation to the One Young World summit, which takes place this year from 2 – 5 October in Belfast. Every year, member institutes of CAW run competitions to select their #CharteredStar to represent them – and CAW – at the summit.  Ireland’s Chartered Star, Peter Gillen will join young leaders of tomorrow to learn how to drive progress within their communities and workplaces, listen to inspirational speakers and broaden their international networks, connecting with global visionaries. Technical updates On 2 August, IAASB issued the proposed, landmark International Standard on Sustainability Assurance (ISSA) 5000, General Requirements for Sustainability Assurance Engagements, for public consultation. This, when approved, will be the most comprehensive sustainability assurance standard available to all assurance practitioners across the globe, applying to sustainability information reported about any appropriate sustainability matter and prepared under any suitable framework. It will also apply for both limited and reasonable assurance engagements. The Financial Reporting Council (FRC) Lab has published a new report: ESG Data Distribution and Consumption, examining how investors obtain and use environmental, social and governance. It has also published a thematic review, assessing the quality and maturity of climate-related metrics and targets disclosures. The International Organization of Securities Commissions (IOSCO) has announced its endorsement of the International Sustainability Standards Board’s (ISSB) Standards. Did you know? Ireland’s second SDG (Sustainable Development Goals) Week is taking place this year from 23 September to 1 October. SDG Week forms part of the wider European Sustainable Development Week (ESDW) which this year, will run from 18 September – 8 October. Resources Chartered Accountants Ireland has issued a Q&A on the CSRD and the ESRSs with information about the Directive and the Standards, and when and how members may be impacted. Jobs Group Sustainability Reporting Manager - Glenveagh Properties plc, Maynooth, County Kildare. Articles ESG for SMEs: government launches climate advice hub (ICAEW) What did you miss in ESG this summer? (ESG Clarity) How to embrace the climate conscious worker (Irish Times) Summer 2023 Was the Hottest on Record Globally, New Figures Show (Bloomberg Green Certificate in Sustainability Strategy, Risk and Reporting Classes start Wednesday 5 October Following four sellout sittings, our Certificate in Sustainability Strategy, Risk and Reporting for accountants is back again in October 2023. Over 8 weeks, you'll cover key reporting frameworks and metrics, and learn to address the ESG opportunities and challenges that organisations already face. Upcoming events   Dublin Chamber – Sustainability Academy Workshops Dublin Chamber has announced it will offer Sustainability Academy workshops in Autumn. Beginning with a workshop on Sustainability/ESG 101 in September, the 3-hour Zoom workshops includes a free one-hour, post-workshop one-on-one advisory consultation per company with an expert advisor. Find out more here. Online, September 2023 InterTrade Ireland: The Shared Island Fund – Bioeconomy Demonstration Initiatives Funding opportunity Virtual, 14 September, 10:00 - 11:00. Environment Ireland’s: Environment Conference In person: 14–15 September,  Croke Park, Dublin Business Post LIVE/iQuest: Energy Transition Summit In person: 19 September, Croke Park, Dublin ESDN: European Sustainable Development Week (ESDW) 2023 18 September – 08 October. 113 initiatives in 10 countries. Chartered Accountants Ireland Virtual CPD Update – Career Progression and Transition (ROI/NI) Morning plenary session followed afternoon sessions, run and delivered by the District Societies, including the Western Society session on Sustainability and ESG Reporting (Catherine Duggan, Orla Carolan, Peter Gillen, Susan Rossney). Irish Museum of Modern Art: EARTH RISING Four-day festival of free events and experiences aimed at addressing the climate crisis and aiming to provoke, empower and inspire collective action in audiences to become agents of change for a sustainable and hopeful future.~ In person: 21–24 September, IMMA site, Royal Hospital Kilmainham, Dublin 8, D08 FW31. DETE: Building Better Businesses North-East Event, Dundalk Institute of Technology The latest in the series of Building Better Business events organised by DETE across the country to help businesses focus on the opportunities and challenges presented by the green economy and digital transformation. This event is open to businesses based in the North East. In person: 22 September, 9.00 - 1.00 -  Multi-Purpose Centre (MPC), Faulkner Building, Dundalk Institute of Technology. EPA: Circular Economy Conference This hybrid event will be an opportunity to learn about recent developments in the circular economy and the opportunities and challenges in implementing a circular economy in Ireland. There will be opportunities to network and participate in polling and Q&A sessions. In person: 27 September, The Aviva Stadium, Dublin. Green Team Network: ESG Networking Breakfast An intensive session tailored for Ireland's industry leaders seeking to understand and act upon the financial implications of climate change, this event aims to bridge the gap between climate financial risk and sustainability education. In person: 27 Sept, 08:00 – 9:45, Dean Hotel, 33 Harcourt St, Saint Kevin's, Dublin 2, Ireland Women in Business (Northern Ireland) Women in Finance Women in Business is running a wide-ranging programme of female entrepreneurship events over the upcoming months. The events include sectoral networking, webinars, and training courses for essential skills. A specific session on women in finance will focus on work in finance departments, small scale accountancy or work for yourself, both members and non-members are welcome to join this online event. Virtual: 25 October, 10.00-11.30am Sustainable Finance Skillnet is offering funded training opportunities until October 2023 to Irish employees in the financial services sector at 30 percent of course fees (with 70 percent funding available for members of the International Sustainable Finance Centre of Excellence). Virtual: September-October 2023 Accountancy Europe: Preparing for high-quality sustainability assurance engagements In person: 3 October, 14.00-17.00, ACE events - Av. d'Auderghem 22, 1040 Brussels Climate Finance Week Ireland 2023 In person and virtual: Monday, 20 November – Friday, 24 November Network for Chartered Accountants working on ESG projects Are you a Chartered Accountant working in ESG or working on ESG-related projects? Would you like an opportunity to engage with other Chartered Accountants working in this space to share insights, challenges and opportunities? Chartered Accountants Ireland now has a network to allow members working in sustainability/ESG to meet and discuss all matters of interest re ESG and accounting. 3rd or 4th Wednesday of every month Next: 27 September 2023  14.00-15.00/30 Teams If you would like to attend please email sustainability@charteredaccountants.ie   You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.    

In this week’s Sustainability/ESG bulletin, read how nature may become ‘the new climate’ for financial institutions, a public consultation on ‘value factors’ for natural capital, and the public consultation on Northern Ireland’s carbon emissions, as well as the usual roundup of articles, resources and events. Nature as the new climate Nature could be the new climate for the world’s biggest financial institutions. While most financial firms are reportedly failing to see how the natural world impacts their business, this could change as the impacts of nature on profits becomes increasingly clear. The Taskforce for Nature-Related Financial Disclosures (TNFD) published  a high-level scoping study exploring the case for a global nature-related public data facility. Read more. ‘Value factors’ for natural capital – consultation The Value Commission has launched a public consultation for the co-design and development of transparent global criteria for the creation and the use of value factors for natural capital and other types of capital. Hosted by Capitals Coalition, the Value Commission is a time bound three-year, collaborative project, bringing together commissioners from around the world, including members from Ireland’s INCASE, to drive transparency and accountability across the application and use of these 'value factors'. They are used by businesses for the measurement of the flow of services that come from nature, to interpret that information across their operations for insights on their impacts and dependencies. The consultation closes in October - read more from Natural Capital Ireland. Public consultation on Northern Ireland’s emissions targets The first of three public consultation sessions on Northern Ireland’s Carbon Budgets was hosted this week by the Department of Agriculture, Environment and Rural Affairs (DAERA). This in-person and online event aimed to provide an opportunity for people to contribute on how the threats presented by climate change should be tackled. The findings from this, and the subsequent consultation sessions, will set an agreed carbon budget and targets, and will help inform Northern Ireland’s first Climate Action Plan.  Did you know? Edgbaston is to stage first sustainable cricket match, with the Men’s Vitality IT20 to be the UK’s first climate conscious international cricket match.  Meanwhile, the organisers of the Rugby World Cup are attempting to stop the release of a Greenpeace video, featuring an Irish comedian, satirising the event’s oil company sponsor. Resources The Chartered Accountants Ireland Sustainability Glossary has been updated to include nature positive. This is the term used to describe a world where nature – species and ecosystems – is being restored and is regenerating rather than declining. Jobs Group Sustainability Reporting Manager - Glenveagh Properties plc, Maynooth, County Kildare. Articles Shell and BP among firms accused of greenwashing over renewable energy (Belfast Telegraph) Head to head: Does retrofitting your home pay off? (Irish Times) Upcoming events   Dublin Chamber: The Future of Sustainable Finance  The latest event in our Dublin 2050 series. Dublin has been steadily growing its reputation as a hub for sustainable finance in recent times, making significant progress in advancing sustainable finance practices and attracting investments aligned with ESG principles. This expert panel-led event aims to contribute to knowledge sharing, collaboration, and innovation within the business community. In person, 5 September, 8.30 – 10.00. Dublin Chamber, 7 Clare Street, Dublin 2 Dublin Chamber – Sustainability Academy Workshops Dublin Chamber has announced it will offer Sustainability Academy workshops in Autumn. Beginning with a workshop on Sustainability/ESG 101 in September, the 3-hour Zoom workshops includes a free one-hour, post-workshop one-on-one advisory consultation per company with an expert advisor. Find out more here. Online, September 2023 InterTrade Ireland: The Shared Island Fund – Bioeconomy Demonstration Initiatives Funding opportunity Virtual, 14 September, 10:00 - 11:00. Environment Ireland’s: Environment Conference In person: 14–15 September,  Croke Park, Dublin Business Post LIVE/iQuest: Energy Transition Summit In person: 19 September, Croke Park, Dublin ESDN: European Sustainable Development Week (ESDW) 2023 18 September – 08 October. 113 initiatives in 10 countries. Chartered Accountants Ireland Virtual CPD Update – Career Progression and Transition (ROI/NI) Morning plenary session followed afternoon sessions, run and delivered by the District Societies, including the Western Society session on Sustainability and ESG Reporting (Catherine Duggan, Orla Carolan, Peter Gillen, Susan Rossney). Irish Museum of Modern Art: EARTH RISING Four-day festival of free events and experiences aimed at addressing the climate crisis and aiming to provoke, empower and inspire collective action in audiences to become agents of change for a sustainable and hopeful future. In person: 21–24 September, IMMA site, Royal Hospital Kilmainham, Dublin 8, D08 FW31. DETE: Building Better Businesses North-East Event, Dundalk Institute of Technology The latest in the series of Building Better Business events organised by DETE across the country to help businesses focus on the opportunities and challenges presented by the green economy and digital transformation. This event is open to businesses based in the North East. In person: 22 September, 9.00 - 1.00 -  Multi-Purpose Centre (MPC), Faulkner Building, Dundalk Institute of Technology. EPA: Circular Economy Conference This hybrid event will be an opportunity to learn about recent developments in the circular economy and the opportunities and challenges in implementing a circular economy in Ireland. There will be opportunities to network and participate in polling and Q&A sessions. In person: 27 September, The Aviva Stadium, Dublin. Women in Business (Northern Ireland) Women in Finance Women in Business is running a wide-ranging programme of female entrepreneurship events over the upcoming months. The events include sectoral networking, webinars, and training courses for essential skills. A specific session on women in finance will focus on work in finance departments, small scale accountancy or work for yourself, both members and non-members are welcome to join this online event. Virtual: 25 October, 10.00-11.30am Sustainable Finance Skillnet is offering funded training opportunities until October 2023 to Irish employees in the financial services sector at 30 percent of course fees (with 70 percent funding available for members of the International Sustainable Finance Centre of Excellence). Virtual: September-October 2023 Accountancy Europe: Preparing for high-quality sustainability assurance engagements In person: 3 October, 14.00-17.00, ACE events - Av. d'Auderghem 22, 1040 Brussels Climate Finance Week Ireland 2023 In person and virtual: Monday, 20 November – Friday, 24 November Network for Chartered Accountants working on ESG projects Are you a Chartered Accountant working in ESG or working on ESG-related projects? Would you like an opportunity to engage with other Chartered Accountants working in this space to share insights, challenges and opportunities? Chartered Accountants Ireland now has a network to allow members working in sustainability/ESG to meet and discuss all matters of interest re ESG and accounting. 3rd or 4th Wednesday of every month Next: 27 September 2023  14.00-15.00/30 Teams If you would like to attend please email sustainability@charteredaccountants.ie   You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.    

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