Ask the Expert – What is your carbon footprint?

On 28 November the Ulster Society hosted a webinar addressing the issue of sustainability, how businesses are shaping a sustainability strategy, delivering operational change and meeting their reporting obligations. This webinar provided an overview of the challenge, and some first-hand case studies of businesses who are taking significant steps on the sustainability journey. Speakers included Keith Scott, NI Water; Derarca Dennis, EY Ireland; Shane O'Reilly, KPMG Sustainable Futures; David Smith, Kilwaughter Minerals Limited. A recording of this webinar is available to view, for free and on-demand, HERE A copy of Shane's slides is available to view HERE A copy of David's slides is available to view HERE A copy of Keith's slides is available to view HERE A copy of Derarca's slides is available to view HERE

  In this week’s bulletin we bring you news that the Temporary Business Energy Support Scheme is now available for registration. Also read about how 200 businesses are taking part in a free trial of fully electrical commercial vehicles, new funding is available to address employment, economic, social and environmental impacts in the Midlands, the proposal for a Constitutional referendum to protect biodiversity, new circular economy measures, and the usual articles, podcast and event recommendations. Available now: Temporary Business Energy Support Scheme The Temporary Business Energy Support Scheme, which will assist eligible businesses with their electricity or natural gas (energy) costs during the winter months, is now open for registration. Under Revenue’s guidelines, businesses wishing to avail of the scheme must tick a box declaring that they have completed a carbon footprint exercise and are taking steps to reduce energy use and environmental impact. In our short Ask the Expert interview with Joe Borza, CEO and founder of Irish company Energy Elephant, you can discover how to measure your carbon footprint, reduce emissions and make better energy decisions. Read more from our colleagues in the Tax Team. 200 businesses to take part in trial of fully electrical commercial vehicles 200 businesses nationwide are to take part in a trial of fully electrical commercial vehicles (EV) to see how they can save their business money and emissions. Participating businesses will have the use of a free EV for three months, along with the option to install an EV charger. The Commercial Fleet Trial, launched this week by Department of Transport and the Sustainable Energy Authority of Ireland (SEAI), will be co-ordinated by Zero Emissions Vehicles Ireland (Zevi), a one stop shop for information on grants, initiatives, and information to support the public, industry, and businesses in making the switch to zero emission vehicles. In a further announcement this week, Iarnród Éireann is to order 90 new battery-electric train carriages for delivery in 2026 to facilitate the expansion of the existing DART service. Funding to address employment, economic, social and environmental impacts EU funding of close to €169 million has been secured to support the Midlands region, it was announced this week. The funding aims to address the address employment, economic, social and environmental impacts that come with the transition from peat production and electricity generation from peat. It will target the generation of new green jobs, enterprise stimulus, an increase in sustainable tourism, restoration of damaged peatlands and alleviation of the economic impacts of the transition to climate neutrality. East Galway, Kildare, Laois, Longford, north Tipperary, Offaly, Roscommon and Westmeath will all benefit from the fund, which will come from the EU's Just Transition Fund. Constitutional referendum proposed to protect biodiversity A Citizens Assembly on Biodiversity Loss has voted to change Ireland’s Constitution with a view to protecting biodiversity. The proposed constitutional referendum would recognise nature as a holder of legal rights, comparable to companies or people. The Assembly on Diversity Loss, the first such assembly held anywhere in the world, took place across several months in 2022 and concluded on 27 November. The work of the Citizens Assembly will continue into January 2030 when there will be final votes on sectoral recommendations on biodiversity loss. (Find out more about biodiversity and business.) Ireland’s circular economy measures – funding and deposit return scheme Funding of €1.5 million was announced this week for Circuléire, the national platform for circular manufacturing. The funding aims to foster and enhance circular economy knowledge, capacity building and implementation by Irish industry, and will be available from 2023. The announcement comes amid news of the launch of a  Deposit Return Scheme (DRS), which aims to encourage people to recycle their drink containers by refunding them money when they return any returned plastic bottles or cans. All producers and retailers are legally obliged to register with Re-turn, which will operate the scheme, and registration is now open.  The scheme itself with go live in February 2024.  (Find out more about the circular economy) Support among young people for taxes on emitting-activities, ESRI research finds EPA-funded research of youth in Ireland aged 16-24 has found that young people judge environmental action to be urgent, that they are willing to change their lifestyles and that they want stronger pro-climate policies. Many support bans and taxes on activities that cause harmful emissions. The study, which focused on knowledge and beliefs about climate change mitigation (reducing harmful greenhouse gas emissions) was conducted by the ESRI in March 2022 and is the first of its kind in Ireland. Resources Webinar: How can the accounting profession be an agent of change? (ICEAW Climate Summit – registration required) Podcast: The Director General of the EPA, Laura Burke, speaks to Daniel Murray (5 Degrees of Change) Recording and slides from 'The Sustainability Journey: Responsibilities, Strategy and Reporting' webinar (Link)    Articles Brian Keegan's article notes that the cash flow benefit of the Temporary Business Energy Support Scheme far outweighs any terms and conditions. One particular item to watch for is that any monies received are not tax-free. (Irish Examiner). New ‘green VAT’ rates would raise more tax, reduce emissions, researchers claim (Irish Times) Get ready for a net zero business backlash (Irish Times) Australia’s banks likely to reduce lending to regions and sectors at risk of climate change impacts, regulator says (Guardian) Jobs Financial/Reporting Accountant for major energy provider in Ireland’s Energy/Sustainability/Renewables sector. Newly qualified ACAs can contact Dave Riordan, Careers Team, Chartered Accountants. Upcoming events Introduction to Sustainability Reporting....the basics Seán O'Reilly (NI CPD Blitz), 8 December A4S Summit, bringing together leaders in finance for discussion, insight and action to explore the trends shaping our world and the practical actions that can be taken to build a resilient, sustainable economy, 13-15 December Biodiversity COP15 Part 2, 7-19 December You can find information, guidance and supports to understand sustainability and meet the challenges it presents in our online Sustainability Centre.