Sustainability Centre

In this week’s Sustainability/ESG Bulletin, read about the report warning how extreme weather events will test Ireland’s economic and financial resilience and the Department of Finance’s report into potential long-term impacts of global megatrends, like climate change, on Ireland’s economy and public finances. Also covered is the announcement by the EIB of new support to develop Ireland’s district heating systems, the agreement by EU Member States on emissions targets, the proposed changes to carbon accounting, and the landmark European Court of Human Rights ruling setting a precedent for climate accountability, as well as the usual articles, jobs and upcoming events.   IRELAND Report into climate adaptation finance identifies shortfalls in Ireland’s resilience A new joint report by the Climate Change Advisory Council and the Central Bank of Ireland has warned that the deployment of climate adaptation finance is below what is required to address the escalating risks posed by climate change. Without action, the impact of extreme weather events will test Ireland’s economic and financial resilience. The report, Funding Climate Adaptation in Ireland, emphasises the importance of credible transition plans to build resilience in the financial sector and contribute to a resilient economy. Actionable solutions include transition planning that incorporates adaptation, and the development of scalable, investable project models, and a register of successful adaptation projects to build momentum and share solutions. Report publishes on long-term fiscal and economic assessment of Ireland’s needs The Minister for Finance, Paschal Donohoe TD, has published Future Forty: A Fiscal and Economic Outlook to 2065 examining the long-term impacts of global megatrends and other structural shifts and their potential impact on Ireland’s economy and public finances in the years ahead. In total, over 2,000 scenarios have been modelled, which collectively point to a continued growth in living standards, but with slowing growth over the long-term, and a steady decline of our fiscal position. Among the key economic and fiscal drivers identified as contributing to this is the long-term costs of decarbonisation and climate mitigation along with demographic shifts and slowing productivity, and a slowdown in corporation tax receipts. The next decade is highlighted as a window of critical opportunity to boost economic growth potential, address the structural challenges and avail of the opportunities that may lie ahead. Ireland responds to EU’s proposed 2040 climate target Ireland’s Minister for Climate, Energy and the Environment, Darragh O’Brien has welcomed the EU’s agreement on a proposed 2040 climate target and updated Nationally Determined Contribution (NDC) (see below), praising in particular its recognition of “the particular characteristics of our agriculture sector” and the importance of energy affordability and social cohesion. The announcement follows the publication of reports by Environmental Protection Agency (EPA) that Ireland is significantly off  track to meet its legally binding 2030 emissions reduction goals, with agriculture accounting for over 37.8 percent of Ireland’s total greenhouse gas emissions — the largest share of any sector. Other reports point to continued degradation of Ireland’s water quality caused by excess nutrients from agriculture, urban wastewater and other human activities. Separately, Taoiseach Michael Martin attended the two-day World Leaders Climate Action Summit in Belém, Brazil, which brings together heads of state and government, ministers, and leaders of international organizations to discuss pressing climate change challenges and commitments. Commenting, Taoiseach Martin said that there needs to be more leaders "ready to tell it as it is" and that Ireland is adapting by investing in flood relief schemes and coastal defences, early-warning systems and sustainable agriculture and industrial practices. Over the coming weeks Chartered Accountants Ireland will provide coverage of the climate summit, and potential impacts to business on its Sustainability Centre. European Investment Bank (EIB) announces new supports for Ireland’s district heating The European Investment Bank (EIB) has announced new technical and financial advisory support to help Ireland develop district heating systems. Heating accounts for more than one-third of Ireland’s energy-related emissions, with more than 80 percent of households still relying on fossil fuels. District heating—common across Nordic and central European countries—offers a proven way to decarbonise heating by using renewable, waste, and low-carbon heat sources. It also provides more stable, predictable costs and the opportunity to shield connected households from market volatility.  Ireland’s networks currently supply less than 1 percent of national heat demand, highlighting a major opportunity for growth. The Department of Climate, Energy and the Environment has opened an Expression of Interest (EoI) through the SEAI website, for interested parties to be considered for the fund. EUROPE Member States agree on emissions targets Member States of the European Union have agreed on new EU Nationally Determined Contribution (NDC) under the Paris Agreement ahead of the UN Climate Change Conference (COP30). This annual global climate change conference begins in Belém, Brazil, on 10 November. The new EU NDC, which will now be submitted to the United Nations Framework Convention on Climate Change (UNFCCC), is to reduce net GHG emissions by 66.25 –72.5 % below 1990 levels by 2035, and by 90 percent by 2040. The agreement followed protracted talks among environment ministers in Brussels and included flexibility about how that target could be met, such as the ability to buy carbon “credits” to allow EU countries to finance climate action elsewhere and count that financing towards up to 5 percent of their own reduction targets. This has drawn criticism as allowing for carbon credits means the actual impact on reductions in emissions could be lower than what is needed to arrest climate change. The 2040 climate target can become law following approval by MEPs in the European Parliament. European Union ‘largely on track’ to achieve 2030 targets A report published by the European Environment Agency has found that the European Union remains largely on track to achieve its 2030 targets to reduce net greenhouse gas emissions. Trends and projections in Europe 2025 estimates that total net greenhouse gas emissions in the EU fell by a further 2.5 percent in 2024. It further found that EU Member States are expected to collectively achieve a net emissions reduction of 54 percent by 2030 compared with 1990 levels, which is just under the 55 percent reduction target. The report also notes that while several developments will require focused attention in the coming years, the foundation for progress is in place: recent years have seen a rapid acceleration in emission reductions and the emergence of numerous technological and policy solutions. However, it also underscores the scale of the remaining challenge — in particular, the need to strengthen more resilient carbon sinks, accelerate transport decarbonisation and ensure delivery at national level. Separately the latest European Environment Agency (EEA) review of national climate adaptation actions highlights that while European countries have made substantial progress in planning for climate adaptation and with adopting policies, implementation and evaluation need to be significantly strengthened to ensure actions effectively address the escalating climate risks Europe faces. WORLD COP30 “Return on Action” Campaign The We Mean Business Coalition, the World Business Council for Sustainable Development, and partners are inviting companies to participate in the COP30 “Return on Action” campaign. The initiative showcases how corporate climate action is delivering tangible benefits — from green jobs and energy security to cost savings and sustainable growth. The aim is to “send a clear signal to Heads of State, environment ministers, fellow corporate leaders and concerned citizens, that business remains committed to deliver on the promise of the Paris Agreement” .Their goal is to take over the online conversation for 24 hours during the COP30 negotiations, thereby generating media coverage, and “send an unmissable message to policy makers and the public about the unstoppable momentum of corporate climate leadership.” Businesses are encouraged to submit case studies demonstrating impact, which will be reshared globally on 12 November during COP30 to highlight collective momentum and reinforce commitment to the Paris Agreement. For more information or to get involved, contact cop@wmbcoalition.org  or access the Q&A here. Proposed changes to carbon accounting The Greenhouse Gas Protocol, the leading international standard for measuring and managing greenhouse gas emissions from companies and governments, has launched a public consultation for updates to its guidance on Scope 2 emissions, i.e. emissions from purchased electricity, steam, heat, and cooling. The proposed revisions aim to improve accuracy while keeping reporting clear, consistent, and manageable for organisations of all sizes and reflecting the world’s rapidly changing energy landscape. Proposals involve stricter requirements for both location- and market-based reporting, with final revisions expected in 2027. The 60-day public consultation period began on October 20, 2025 and will run until December 19, 2025. Landmark ruling sets precedent for climate accountability The European Court of Human Rights has reportedly set a precedent for climate accountability in a landmark ruling on the case of Greenpeace Nordic and Others v. Norway. The Court held that when making a decision in the context of the environment and climate change, the State had to carry out an adequate, timely and comprehensive environmental impact assessment in good faith, and based on the best available science. The case began in 2016 with Greenpeace Nordic, Nature and Youth, and six activists challenging Norway’s decision to open parts of the Barents Sea to oil exploration, arguing that the licences violated their rights under the European Convention on Human Rights. The impact of setting science-based targets on businesses The SBTi has released a new report demonstrating that science-based targets deliver competitive advantage—not just climate impact. In The Impact of Setting Science-Based Targets on Businesses report, a survey of 171 companies, a literature review of 22 studies, and three case studies indicate that companies benefit from a wide range of positive effects as a result of setting science-based targets. This ranges from improved investor relations to better financing terms, enhanced strategic cohesion, more alignment with suppliers, and resilience across multiple areas of risk, in addition to higher climate ambition and a faster pace of decarbonisation. Articles Turning Uncertainty into Action: Why Every Business Needs a Climate Transition Plan (IBEC) DEI isn’t dead, it’s just reincarnating (Financial Times) Climate and affordability are at the heart of Zohran Mamdani’s mayoral bid (Sustainable Views – Subscription needed) Critical minerals shortage threatens EU energy transition (Accountancy Ireland - Briefly)   Jobs Financial Services - Climate Change and Sustainability Services - Senior Consultant (EY)   Events Business for Biodiversity Ireland, Supporting Action for Business & Biodiversity BFBI, in partnership with Waterford City & County Council Climate Action Team, will host a free webinar to help Irish businesses understand their relationship with nature and develop a strong Nature Strategy. The session will explore how biodiversity adds value and resilience to organisations. Online, 11 November 2025, 11:00am–12:00pm Irish Green Building Council, IGBC Lunch & Learn: Promoting Business Benefits of Sustainable Strategies for SMEs This one-hour webinar, hosted in collaboration with Bank of Ireland, explores how SMEs can unlock business value through sustainability—covering cost savings, brand enhancement, and access to financial supports, with expert insights and practical tools including the Sustainability Business Coach Virtual, Wednesday 12 November 2025, 1:00pm – 2:00pm Ibec Networks Autumn Seminar Series, Session 4: The culture of sustainability innovation The final webinar in a four-part series Autumn Seminar Series ‘The culture equation’ looks at what supports are available to assist on a journey to becoming a more sustainable business. In the supporting case study from O'Brien's Fine Foods the webinar will discuss what drives a sustainability focused culture in an organisation. Virtual, Thursday 13 November, 11.00-11.50am Sustainable Energy Authority of Ireland (SEAI), SEAI Webinar: Supporting SMEs on the Path to Sustainability This webinar will explore how small and medium-sized enterprises can adopt sustainable practices, reduce energy costs, and access available supports. The session will include expert guidance and practical tools tailored to SME needs. Virtual, Thursday 14 November 2025, 11:00am – 12:00pm  iQuest / Business Post Live, ESG Summit Autumn 2025 This ESG Summit will explore how sustainability is becoming central to business strategy. With a focus on regulatory shifts, climate transition planning, ESG data governance, and nature-positive outcomes, the event brings together business leaders, policymakers, and sustainability professionals to share insights and practical strategies. In-person, 20 November 2025, 8:45am–5:00pm, Croke Park, Dublin  Business in the Community Ireland, Launch of Ireland’s First Climate Transition Plan Scorecard BITCI, in partnership with DCU Institute for Climate and Society, will launch Ireland’s first Climate Transition Plan Scorecard. The Scorecard assesses corporate climate plans across nine key areas and is part of BITCI’s Accelerate campaign. In-person, 20 November 2025, 3:00pm–4:00pm (wine reception until 5:00pm),  Sky Suite, Radisson Blu, Golden Lane, Dublin 8 IBEC, Preparing for Severe Weather Events Severe weather conditions can cause major disruption to roads, bus or train infrastructure and therefore, the operation of your business. In this webinar, Dr. Michael Gillen, Head of OSH Policy will review the key points to consider, practical steps and control measures you can put in place. Virtual, 26 November 11:00 - 11:45 Chartered Accountants Ireland, Network for Chartered Accountants working in ESG This informal network offers Chartered Accountants working in ESG/Sustainability a space to connect, share insights, and discuss challenges and opportunities in the field. Members working on ESG-related projects are encouraged to join and contribute to the conversation. Online, 19 November 2025, 2:00pm–3:00pm, Email sustainability@charteredaccountants.ie to join   Sustainability Centre 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 new resources on sustainability from Chartered Accountants Ireland, sustainability in the Department of Enterprise, Tourism and Employment Statement of Strategy 2025-2028, the Gender Balance in Business Survey 2025, energy updates, news from Europe, and the usual articles and upcoming events.   Chartered Accountants Ireland Why SMEs hold the key to real climate action In this article by Chartered Accountants Ireland’s Sustainability Advocacy Manager, Susan Rossney describes how Northern Ireland’s SMEs are at the heart of the region’s climate transition. It describes how supporting SMEs is not just good climate policy—it’s smart economic strategy. “If we’re serious about climate action, we must empower SMEs with the tools, incentives and clarity they need to lead the way. Their impact is local, immediate and transformative.”  (Business Eye) Is the CSRD rollback the end or a new start for sustainability? The CSRD rollback is raising new questions for sustainability reporting. Stephen Prendiville (Deloitte), Sophie Sweeney (University of Galway) and Susan Rossney (Chartered Accountants Ireland) discuss the new VSME standard, the value of strategy over reporting, and the accountants' role in maintaining the sustainability momentum. (Podcast - 51 mins)   IRELAND Sustainability in Department of Enterprise, Tourism and Employment Statement of Strategy 2025-2028 The Department of Enterprise, Tourism and Employment has published its Statement of Strategy 2025-2028, setting out a new path to drive competitiveness, sustainability and prosperity over the next three years. The new strategy outlines six cross-cutting goals aimed at strengthening Ireland’s position as a leading location to work, do business and visit. It places a strong emphasis on innovation, digitalisation, decarbonisation and infrastructure. To achieve its goal of driving competitiveness, sustainability and innovation, and building the resilience of the economy the Department states it will “advance the green transition in enterprise [in line with Government’s Climate Action Plan] through delivering decarbonisation roadmaps; a Climate Change Adaptation Plan for the Tourism Sector; providing effective supports and incentives, and; implementing the Offshore Wind Industrial Strategy and the EU’s Net Zero Industry Act.” Energy updates The Government has published the text of the Electricity (Supply) (Amendment) Bill 2025. This bill, once enacted, will provide the mechanism for government investment of €1.5 billion in ESB Networks to support development of Ireland’s electricity grid over the next five years. This is part of the €3.5 billion government investment approved in the National Development Plan in July. The bill, which will now pass through the Houses of the Oireachtas, also provides for an increase in ESB’s statutory borrowing limit from €12 billion to €17 billion.  Separately, it was also announced this week that funding of €27 million is to be provided from the Climate Action Fund (CAF) for local authorities to support and build low carbon communities across the country. The National Economic and Social Council (NESC), meanwhile, has identified key risks to energy transition policy and has set out an agenda to respond to them, categorised into actions for ‘now’, ‘next’, and ‘later’. The risks were outlined at the recent National Energy Summit 2025, which brought together 300 experts from industrial, policy, and NGO sectors. Speaking at the conference, Dr Cathal FitzGerald (Senior Analyst at NESC), stated “the transition must make sense at ground level – socially, economically, and politically – as well as on a graph”. CSO surveys shows that a third of Senior Executives in Ireland in 2025 were female The Central Statistics Office (CSO) has published its Gender Balance in Business Survey 2025, providing official statistics from the CSO on gender representation in Senior Executive teams and Boards of Directors of large enterprises in Ireland. The survey results show that 32 percent of all Senior Executives in Ireland in 2025 were female, 19 percent of Chief Executive Officers in Ireland were female, almost one in five Boards of Directors had a female Chairperson and 28 percent of members of Boards of Directors in Ireland in 2025 were female. The survey was conducted in response to the Balance for Better Business initiative and aims to provide benchmark information on gender representation. The 2025 survey is the fourth iteration of the survey, which repeats every two years. Urgent action needed on biodiversity, warns CCAC The Climate Change Advisory Council has said that Government must urgently strengthen planning processes to prevent further biodiversity loss and embed nature-based solutions in the design and delivery of all future infrastructure developments. In its Annual Review of biodiversity, published this month, the Council has called on the Government to issue national guidance and enact specific regulations to better integrate biodiversity into the planning system. This should include the use of nature-inclusive infrastructure design, the creation of biodiversity corridors, and the restoration of nature-friendly habitats in all new developments. Research from PwC has found that more than half of global GDP is exposed to material nature risk without immediate action, with $58 trillion at risk. NORTHERN IRELAND/UK Energy updates The UK government has published its first ever national plan to recruit workers needed for its clean energy mission, with over 400,000 extra jobs by 2030. The Clean Energy Jobs plan is part of the UK Industrial Strategy and sets out the workforce needed to deliver the UK’s clean energy ambitions, and how the government will work in partnership with industry and trade unions to deliver it. Separately the UK government has announced that families and small businesses are set to benefit from greater protections and consumer rights when things go wrong in the energy market, with quicker redress and compensation through the Energy Ombudsman, a crackdown on energy brokers to eradicate exploitation, and protections for businesses when installing smart meters. EUROPE MEPs to vote on simplified sustainability and due diligence rules in November The European Parliament has rejected the mandate adopted by the Legal Affairs Committee on 13 October on simplified rules for sustainability reporting and due diligence obligations, by 309 votes in favour, 318 against and with 34 abstentions. Parliament will decide its position on simpler sustainability requirements ahead of talks with EU governments at the next plenary session in Brussels on 13 November. They will then be ready to start talks with EU governments, which already adopted their position on 23 June. The aim is to finalise the legislation by the end of 2025. European Parliament Gender equality week From 3 to 7 November 2025, the European Parliament committees will be discussing how to harness women’s talent through education, training and employment, to drive economic growth and progress. Under the overarching topic of “Talent” the week will feature several committee debates and events, focusing on closing the gender talent gap in education and creating conditions where women can thrive. It will highlight equality – not just as a matter of fairness, but as a driver of economic growth and progress, by using women’s talent to the full. This is the sixth annual European Parliament Gender Equality Week to assess progress, highlight achievements, and identify new ways to promote the rights of women and girls and achieve gender equality, and events can be followed live. European Union prepares for COP30 The European Council has published climate finance figures in preparation for the United Nations Climate Change Conference of the Parties (COP30 & CMA7), which will take place from 10 to 21 November in Belém, Brazil. The figures are based on the EU climate finance reporting rules laid down in the governance regulation. In 2024, the European Union and its 27 member states contributed €31.7 billion in climate finance from public sources and mobilised an additional amount of €11.0 billion of private finance to support developing countries to reduce their greenhouse gas emissions and adapt to the impacts of climate change. Separately, the European Parliament has adopted its priorities for COP30, urging it to recommit to limiting global warming to 1.5°C. The resolution, prepared by the Committee on the Environment Climate and Food Safety, was approved on Thursday and underlines the need for the EU to remain a leader in international climate negotiations, and that all sectors must contribute to reducing emissions and achieving climate neutrality. The resolution reiterates the urgent need for the EU to end its fossil fuel dependence, phase out related subsidies and accelerate its energy transition. It also calls on the international community to pay increased attention to the climate impact of conflicts. WORLD A report published by Organisation for Economic Co-operation and Development (OECD) has revealed that 91 percent of listed companies now disclose sustainability-related information, with 81 percent of these disclosures being externally assured. Global Corporate Sustainability Report 2025 provides insights on how companies are implementing the sustainability-related recommendations of the G20/OECD Principles of Corporate Governance. These recommendations cover disclosure, shareholder-company dialogue, board responsibilities, and stakeholder engagement. The absolute number of companies disclosing sustainability information also increased but remains a moderate share - below one-third - of the total number of listed companies. Articles   New laws mean employers will have to reveal salary ranges in job ads and will be prevented from asking about pay history (Irish Independent) 87% of hoteliers plan sustainability investments – survey (RTÉ) Green roofs and permeable paving: how to solve both the human and nature housing crises (Irish Times) Carbon dioxide levels hit new high, locking in overheating of Earth for centuries, WMO warns (Irish Times)   Events Ibec Networks Autumn Seminar Series, Session 4: The culture of sustainability innovation The final webinar in a four-part series Autumn Seminar Series ‘The culture equation’ looks at what supports are available to assist on a journey to becoming a more sustainable business. In the supporting case study from O'Brien's Fine Foods the webinar will discuss what drives a sustainability focused culture in an organisation. Virtual, Thursday 13 November, 11.00-11.50am IBEC, Preparing for Severe Weather Events Severe weather conditions can cause major disruption to roads, bus or train infrastructure and therefore, the operation of your business. In this webinar, Dr. Michael Gillen, Head of OSH Policy will review the key points to consider, practical steps and control measures you can put in place. Virtual, 26 November 11:00 - 11:45   Sustainability Centre You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.