In this week’s Sustainability/ESG bulletin, read about Ireland’s new €250 million Seed and Venture Capital Scheme, which will help SMEs scale with a focus on ESG and sustainability. Also covered is Northern Ireland’s Low Carbon/Net Zero Sectoral Action Plan, a review into sharing adaptation actions, a report finding stark gaps in corporate environmental and social responsibility, and the usual articles, resources and events.
Ireland/Northern Ireland news
New Seed and Venture Capital Scheme to help SMEs scale with a focus on ESG and sustainability
The Minister for Enterprise, Trade and Employment, Peter Burke, T.D., has announced a new cycle of the Seed and Venture Capital Scheme. The new cycle will operate from 2025 to 2029 and will have a record allocation of €250 million. Administered by Enterprise Ireland, the Scheme will provide funding for Irish companies in their early stages of development. Commenting on the announcement, Leo McAdams, Enterprise Ireland, said that the scheme will play a role in stimulating the Irish economy, by supporting SMEs to, among other things, “scale with a focus on ESG, sustainability and regional activity.”
Northern Ireland’s Low Carbon/Net Zero Sectoral Action Plan
Northern Ireland’s Economy Minister Conor Murphy recently launched sectoral action plans for seven of the most innovative, productive and internationally oriented parts of the region’s economy. The Low Carbon/Net Zero Sectoral Action Plan in particular mentions that the region can become a ‘greenshoring’ destination of choice for companies wishing to establish a low carbon/net zero manufacturing base and supply chain. Read the plan here.
Europe news
A new European Environment Agency (EEA) review of the EU’s Climate-ADAPT online platform shows that sharing examples of adaptation actions can boost learning across the EU to help societies better prepare for climate change. The briefing, Preparing society for climate risks in Europe, stresses the need to scale up adaptation measures and actions across all policy sectors and governance levels to address escalating climate risks like extreme heat, drought, wildfires and flooding. The review comes after record-breaking high temperatures across Europe in July, which saw heatwaves causing loss of life, particularly in Southern Europe.
World news
A new report finds ‘stark gaps’ in corporate environmental and social responsibility. The Nature Benchmark, published by the World Benchmarking Alliance’s (WBA), tracks and measures how over 800 major corporations across 20 industries are reducing their negative impacts on nature and contributing to the protection and restoration of ecosystems. The study found ‘a pervasive gap’ between the high-level commitments made by many large corporations to safeguard nature and the tangible action plans required to realise these commitments, and deficiencies in collecting and disseminating robust data to substantiate claims of meaningful progress.
Sustainability Reporting and Assurance Diplomas starting soon
With the mandatory corporate Sustainability Reporting and Assurance in the EU starting this year, Chartered Accountants Ireland’s Sustainability Diplomas are back for the Autumn Schedule for our Professional Development courses.
- Diploma in Sustainability Reporting is designed for chartered accountants and others leading the implementation of the new European Sustainability Reporting Standards (ESRS).
- Our Diploma in Auditing and Assuring Sustainability Reporting is tailored for Chartered Accountants and others seeking to conduct sustainability assurance and become licensed as Sustainability Assurance Service Providers (SASPs).
Articles
- Chartered Star 2024 winner Evan O’Donnell talks to Susan Rossney, Sustainability Advocacy Manager with Chartered Accountants Ireland, about the future of sustainability in the profession (Accountancy Ireland)
- SMEs, the supply chain and the sustainability agenda (Accountancy Ireland)
- Being your own advocate at work - especially if you're neurodivergent (Accountancy Ireland)
- Sustainability and Finance: How Ireland meets the industry’s emerging skills need (IDA Ireland)
- Bosses cut flying day trips as travel settles into permanent ‘new normal’ (Financial Times)
- Britain to propose law next year to regulate ESG raters (Reuters)
- ‘Massive disinformation campaign’ is slowing global transition to green energy (The Guardian)
- Moving Beyond ESG - a new playbook for responsible business - Robert G. Eccles (Harvard Business Review)
Podcasts
- The Guardian - The dangers resulting from extreme heat, and what society can do to mitigate them (30 minutes)
- Transforming Tomorrow - Short, accessible listens on sustainability and business. Professor Jan Bebbington and Paul Turner cover externalities and other topics (23 mins)
Did you know?
The
BBC is putting climate change at front of broadcasting, and wants to boost sustainability education, halve emissions by 2030 and become net zero by 2050. As a signatory of The Climate Content Pledge, the BBC aims to use its content to educate and inspire viewers on climate issues. Notable efforts include integrating climate change themes into popular programs like Blue Planet, DIY SOS and Top Gear.
Upcoming Events
Chartered Accountants Worldwide Special Edition
This special episode of the "Difference Makers Discuss Live" series will be hosted by Ainslie van Onselen, Chair of Chartered Accountants Worldwide. Ainslie will join Jessica Fries, Executive Chair of A4S and a Chartered Accountant from the Institute of Chartered Accountants in England and Wales. Jessica will share insights into her career path and role at A4S, as well as discuss the current global sustainability landscape and Chartered Accountants' impact on advancing sustainability.
Virtual, Thursday 22 August | 6:00pm – 6:30pm
A4S (Accounting for Sustainability) Pensions Deep Dive: Using a narrative scenario approach for asset allocation
Mirko Cardinale, Head of Investment Strategy, USS Investment Management, will share insights on using a narrative scenario approach within investment decision-making processes, and how this affected USS's thematic investment outlook and strategic asset allocation review. There will also be a Q&A discussion on the practical implementation of narrative scenarios to support the asset allocation process.
In person/virtual: 5 September, 16.00–17.30 BST
A4S (Accounting for Sustainability) Sustainability in Action Webinar: Net zero – Scope 3 for the real economy
Register for this webinar to receive practical advice for measuring and reducing your scope 3 emissions. During the webinar, we will discuss the pivotal role that finance teams can play in addressing scope 3 emissions. Practical examples shared during the webinar will help you translate the experience and learnings of others to your work.
In person, 10 September,16:00 BST
Premier Publishing & Events, Northern Ireland Sustainability Summit
The 2024 Northern Ireland Sustainability Summit is being held in the TEC, Belfast on the 12th of September with an impressive line-up of Sustainability leaders, academics and government agencies who will engage in a stimulating blend of keynote addresses and debates. The theme is ‘Creating an Innovative and Sustainable Manufacturing & Supply Chain Ecosystem’
In person, Titanic Exhibition Centre Belfast, 12 September
Chartered Accountants Ireland, The SME and SMP Sustainability Workshop
A workshop for SMEs and small/medium accounting practices (SMPs) on how to get ahead of the sustainability curve. This interactive half-day session will focus on positive actions you can take to understand the ‘trickle-down’ effect of the Corporate Sustainability Reporting Directive ('CSRD’), green public procurement, access to sustainable finance, and how to make your practice more sustainable to save costs and respond to staff and client demands.
Virtual, Chartered Accountant House, 13 September, 9.30- 12.30; €60 members; €75 non-members; 3 hours CPD points.
EPA, Circular Economy Conference 2024
Online and in-person (Aviva Stadium, Dublin), 25 September
Dublin Chamber, The Sustainability Academy
Dublin Chamber is running its Sustainability Academy again this year with workshops offering a unique opportunity to gain a comprehensive and well-rounded understanding of sustainability. This course fee includes a free one-hour, post-workshop one-on-one advisory consultation per company with an expert advisor.
Virtual, starting 27 September
ESG Summit Europe, ESG Summit Europe 2024
In person, Madrid, October 1-2
ICAEW, Annual Conference 2024
Discover forward-looking insights on the economy, with a particular focus on sustainability, leadership, and technology designed to help you navigate a rapidly evolving external environment, drive business growth and discuss how to build a better, more resilient economic future.
In person, Convene, London UK, 4 October, 8:00 - 17:00 BST
Environment Ireland, Environment Conference
Environment Ireland® is Ireland’s major environmental policy and management conference. Now in its 20th year, this important event features a range of focused sessions highlighting the pressing issues facing the environment in Ireland and further afield.
In person, Croke Park, 17 October
Chartered Accountants Ireland ESG Masterclass: Take your sustainability knowledge to the next level (ROI/NI)
Masterclass designed for all professional accountants working in business or practice, wishing to consolidate their knowledge and understanding of the sustainability regulatory, reporting and assurance landscape.
24 October, 08:30 – 12.00, Virtual
IAFA & IAASA Integrating Sustainability Reporting and Assurance into Accounting Education Conference
The conference is a collaboration between IAFA and the Irish Auditing and Accounting Supervisory Authority (IAASA) and aims to build awareness of the implications of sustainability reporting & assurance for accounting education, and to foster meaningful dialogue & collaboration among stakeholders to drive positive change. It will explore:
- Challenges and opportunities facing accounting education in the context of sustainability reporting and assurance,
- Corporate Sustainability Reporting Directive (CSRD) and its implications for accounting education,
- Future skills for sustainability reporting and assurance,
- Strategies for enhancing accounting education and student skills development.
In person, 1 November, Maynooth University
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.
- Next meeting: Wednesday, 28 August, 14:00-15.30
- Zoom
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.
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