Sustainability/ESG bulletin, Friday 14 April 2023

In this week’s Sustainability/ESG bulletin, read about the zero VAT rate announced by the Irish Government for the supply and installation of solar panels, the sign-off on the Renewable Transport Fuel Regulations, and the inclusion of sustainability in the Department of Enterprise, Trade and Employment’s Skills for Better Business Online Assessment. Also covered is the launch of the low-carbon centre of excellence – the CUBE – in Portlaoise, a consultation on climate change reporting by specified public bodies in Northern Ireland, and articles, podcasts and upcoming events. .

Zero rate of VAT for supply and installation of solar panels

A zero rate of VAT for the supply and installation of solar panels for private dwellings was announced this week by Minister for Finance, Michael McGrath and Minister for the Environment, Climate and Communications, Eamon Ryan.

Describing the measure as “another step on Ireland’s journey to cleaner, cheaper, renewable energy” Minister Ryan further commented: “We have removed planning permission requirements to install solar panels on residential homes. Our Micro-generation Support Scheme is continuing to prove very successful, following record levels of installations supported in 2022 via the Domestic Solar PV Scheme … With thousands of householders also signing up to sell their excess renewable electricity back to the grid; there is now an even greater opportunity for citizens to be part of the energy transition”.

This is a permanent change and will come into effect from 1 May 2023.

Minister Ryan signs off on Renewable Transport Fuel Regulations

Eamon Ryan, Minister for the Environment, Climate and Communications and Minister for Transport, TD, has signed off on new Renewable Transport Fuel Regulations 2023 which will support Ireland’s continued transition to cleaner and sustainable forms of fuel mixes in the transport fleet and help meet national Climate Action Plan targets. The regulations complete a suite of regulatory changes implemented in partnership and consultation with stakeholders over the past two years, as committed to in the Renewable Fuel for Transport Policy 2021.

Skills for Better Business Online Assessment includes strategy questions on sustainability

Questions on sustainability form part of the strategy assessment section of the Department of Enterprise, Trade and Employment’s Skills for Better Business Online Assessment. The Skills for Better Business Online Assessment was developed as a collaborative project between the Department of Enterprise, Trade and Employment, and a number of national business support agencies. A series of questions about management capabilities that can be answered in under 10 minutes, Skills for Better Business was launched in November 2022 as part of a two-part initiative aimed at assisting SME owners and managers across Ireland. The Online Tool is complemented by a sign-posting resource providing quick contact information for management education and training.

The CUBE - low carbon centre of excellence launches in Portlaoise

A dedicated centre for the development of new business and economic activity in the Laois and the Midlands region has been launched by Minister for Enterprise, Trade and Employment Simon Coveney TD. The CUBE, which will support and assist a transition to a low carbon economy, is the first of its kind in the region, and is situated in Portlaoise Town, designated as Ireland’s first ‘Low Carbon Town’. The town will serve as a roadmap for the development and rollout of similar low carbon initiatives in towns around Ireland. The services and experience required to implement these Low Carbon initiatives will be further leveraged through the CUBE for enterprise and industry to future proof the regions for a changing economy.

DAERA launches consultation on climate change reporting by specified public bodies

Northern Ireland’s Department for Agriculture, Environment and Rural Affairs (DAERA) has launched a consultation on developing future regulations that will place climate change reporting duties on specified public bodies. The regulations are required to be made under the Climate Change Act (Northern Ireland) 2022, which sets out Northern Ireland’s framework for tackling climate change and reducing emissions. This Act sets a target on Northern Ireland departments to deliver net zero emissions in Northern Ireland by the year 2050. The consultation, which aims to build on information already gathered by DAERA during pre-consultation, also aims to gather views on any potential future support a specified public body might need to help them deliver on their climate change reporting duties.The consultation will remain open until 9 June 2023 and can be accessed on the DAERA website.

18 April: Greenwashing and Chartered Accountants

An international webinar on greenwashing organised by Chartered Accountants Worldwide will take place next Tuesday, 18 April from 5-6pm BST. Daniel Thomas, Chief UK Business Correspondent for the Financial Times, will host a panel of experts from the worlds of business, finance and law, who will discuss issues around greenwashing and its consequences. Experts include Tsuyoshi (Yoshi) Domoto, ESG & Sustainability Consultant, GLIN Impact Capital; Aisling McCaffrey ACA, Director – Sustainability, Financial Services Advisory Grant Thornton Ireland; Elena Margineanu, Ph.D. Lecturer at the Free International University of Moldova; Michael Izza, CEO of ICAEW, Chairman, Chartered Accountants Worldwide; and Kate Robertson, Co-Founder, One Young World. Register here.

27 April: Ask the Expert, How ‘green’ is ‘green electricity’?

Economies urgently need to reach net-zero which means a huge decline in the use of coal, oil or gas in favour of green electricity. But how do we know if the electricity we’re buying is actually ‘green’? In a 15-minute interview, Killian Daly, General Manager with EnergyTag and global expert on science-based decarbonisation at scale, will answer your questions on electricity, what is truly 100% renewable electricity and what standards – if any – exist for renewable electricity. Register here for this webinar on 27 April 2023 12:45-13.00.

Articles

• Coffee business takes lead on sustainability (Accountancy Ireland)
• Laying the groundwork for the ISSB sustainability standards (Accountancy Ireland)
• Govt must invest in ports in order to build offshore wind energy projects, report finds (The Journal)
• Sales of electric cars continue to rise as diesel slows (RTÉ News)
• Bus Éireann claims 470,000km of emissions-free travel last year (Irish Times)

Podcast

NewEra's role in the Climate Action Framework. In this 12-minute episode, Jacinta McDonnell, John Dillon, and JP Corkery of NewERA discuss the Climate Action Framework for the commercial semi-State sector. (Podcast) (12 minutes)

Upcoming Events  

• SAICA Sustainability reporting: Navigating the Sustainability Reporting Standards – Webcast  With the International Sustainability Standards Board's (ISSB) first Sustainability Disclosure Standards (IFRS S1 and IFRS S 2) expected to be become effective from January 2024, SAICA is pleased to host Dr Ndidi Nnoli-Edozien, the ISSB Board member to provide an update on the key discussions made by the ISSB on the upcoming IFRS S1 and IFRS S2 to be published by the end of June this year.  17 April

• Chartered Accountants Worldwide, Greenwashing Webinar -  Hosted by Daniel Thomas, Chief UK Business Correspondent for the Financial Times Experts, experts include Tsuyoshi (Yoshi) Domoto, ESG & Sustainability Consultant, GLIN Impact Capital; Aisling McCaffrey ACA, Director – Sustainability, Financial Services Advisory Grant Thornton Ireland; Elena Margineanu, Ph.D. Lecturer at the Free International University of Moldova; Michael Izza, CEO of ICAEW, Chairman, Chartered Accountants Worldwide; and Kate Robertson, Co-Founder, One Young World. 18 April @ 5:00 pm - 6:00 pm BST

• The Chartered Accountants Ireland District Societies are getting together to mark Earth Day 2023 on Saturday 22 April. Each society is organising a clean-up in their area. It's a great opportunity for members to meet up, bring their families and friends and make a positive impact in their communities. Keep an eye out for messages from your own society to find out how to get involved. Find your district society here.

• ICAS special summit on sustainability reporting (London)
  The ICAS sustainability summit will be an opportunity for those closest to developing and implementing UK, European and International sustainability reporting disclosure standards to discuss how we meet the information needs of users and stakeholders. In person, in London, speakers include Andrew Death, Deputy Director at the UK Government’s Department of Business and Trade, Judy Kuszewski, Chair of the Global Sustainability Standards Board, Indy Singh Hothi CA, ICAS President, and Mark Vaessen, President of Accountancy Europe. 26 April

• DETE, Building Better Businesses  Midlands Park Hotel, Portlaoise
  Free event hosted by the Department of Enterprise, Trade and Employment is holding a series of free events for businesses which will focus on the opportunities and challenges presented by digital transformation and the transition to a low carbon economy. 27 April –  from 8.30 am to 1.30 pm.

• Accountancy Europe - Join Accountancy Europe for the webinar Towards digital corporate reporting with CSRD 

  The European Single Electronic Format’s (ESEF) implementation has taught us that timely preparation and communication are the most important factors for the success of relevant IT projects. Now, EU Member States have started implementing the Corporate Sustainability Reporting Directive (CSRD) for transposition. This webinar will explore the role of different parties for an effective CSRD implementation, lessons learnt from ESEF, the interconnectivity between financial and sustainability information via digitalisation and current activities and plans of EU authorities for supporting digital sustainability reporting. 16 May, 14:00-16:00 CEST 

• Irish Environmental Network, National Biodiversity Week 2023
  May 19-28th

• Business Post, ESG Summit, Croke Park, Dublin
  May 30

   

Certificate in Sustainability Strategy, Risk and Reporting

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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 Accountant now has a network to allow members working in sustainability/ESG to meet and discuss all matters of interest re ESG and accounting.

• 3rd Wednesday of every month
• Next : 26 April, 2023
• 14.00-15.00/30
• Chartered Accountant House/Teams

If you would like to attend please email sustainability@charteredaccountants.ie