Sustainability/ESG bulletin, Friday 17 February 2023

In this week’s Sustainability/ESG bulletin, read about the cost of compliance with 2030 climate and energy targets; how €16 million has been approved for climate change adaptation/resilience works for Ireland’s regional and local roads; a decrease in Northern Ireland’s carbon emissions from 1990; and the publication by the Northern Ireland Equality Commission of new guidance on employment equality monitoring. Also covered is the European Commission’s proposed emissions-reductions targets for new city buses and trucks, as well as the usual articles, podcasts and upcoming events.

Estimating potential cost of compliance with 2030 climate and energy targets

The Department of the Environment, Climate and Communications and the Department of Public Expenditure and Reform have published high-level summaries estimating the potential cost of compliance with Ireland’s EU climate targets. The paper presents the potential Exchequer implications should Ireland fail to make sufficient progress in reducing greenhouse gas emissions, highlighting the importance of implementing the measures in the Climate Action Plan 2023. The paper is part of a series of Spending Review papers to be conducted by the Department of the Environment, Climate and Communications as part of the 2023 Spending Review Process.

€16 million approved for climate change adaptation/resilience works for Ireland’s regional and local roads

€16 million has been approved for climate change adaptation/resilience works. The investment is part of a €626 million investment programme for 2023 for regional and local roads announced by Minister for Transport, Eamon Ryan, T.D., and Minister of State, Jack Chambers, T.D. Drainage works, bridge rehabilitation and safety improvement works are also features of the 2023 investment programme.

Decrease in Northern Ireland’s carbon emissions from 1990

Statistics recently published by the Department of Agriculture, Environment and Rural Affairs (DAERA) on Northern Ireland greenhouse gas projections show a 24 percent decrease in ‘carbon dioxide equivalents’ emitted compared to 1990. The statistics are based on 2020 greenhouse gas inventory statistics. The latest projection is that greenhouse gas emissions in Northern Ireland will reduce by 34 percent between 1990 and 2031.

Northern Ireland Equality Commission publishes guidance on employment equality monitoring

The Equality Commission for Northern Ireland has published new guidance to help employers promote equality of opportunity and diversity through effective employment monitoring. A Guide to Employment Equality Monitoring explains what employers should consider and offers practical suggestions and sample questions.

Commission proposes 2030 zero-emissions target for new city buses and 90 percent emissions reductions for new trucks by 2040

The European Commission has proposed CO2 emissions targets for new heavy-duty vehicles (HDVs) from 2030 onwards. The proposal is for phasing in stronger CO2 emissions standards for almost all new HDVs with certified CO2 emissions, compared to 2019 levels: 45 percent emissions reductions from 2030; 65 percent emission reductions from 2035; 90 percent emissions reduction from 2040. The Commission also proposes to make all new city buses zero-emission as of 2030 to stimulate faster deployment of zero-emission buses in cities.

CSRD, Sustainability and Small to Medium Sized Practices

Watch back: Chartered Accountants Ireland Practice News update on 10 February where Institute’s Professional Accountancy Lead Dee Moran and Sustainability Officer Susan Rossney talk about what sustainability and in particular the new corporate Sustainability Reporting Directive means for accountants.

Articles

• Renewables will be world’s top electricity source within three years, IEA data reveals (Carbon Brief)
• Nature’s Air-Conditioning Greening Pearse Street (Dublin Chamber of Commerce)
• RTE flags new direction on climate/environment coverage...marking the end of Eco Eye, which has a remarkable legacy after 21 years (RTE)
• Shell directors personally sued over ‘flawed’ climate strategy (The Guardian)

Podcast

A good summary of the past week’s climate-related development (The Climate Alarm Clock)

Competition 

Accounting for Sustainability (A4S) is now accepting applications for the A4S Academy 2023. The 18-month programme will begin at the end of June 2023, with applications closing on 31st March. More details, includingprogramme outline, eligibility and fees are on the A4S website or by email.

Events

How SMEs business can save energy and money (SEAI)

22 February, 09:00 – 13:00

Resource Matching Workshop – Northern Ireland (Invest NI)

22 February, 09:00 – 13:00

National Sustainability Summit (Premier Publishing)

23 February 23 09:00 - 16:00

Demystifying Sustainability & ESG Reporting Webinar (Clearstream Solutions)

24 February, 12:00 – 13:00

Leinster Society -  Business Lunch with Sonya Lennon - Diversity, Equity and Inclusion in today’s business world. 

2 March, 12:30 - 16:30

Return on Sustainability Investment Webinar (Clearstream Solutions)

31 March, 12:00 – 13:00

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.

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 : 22 February, 2023
• 14.00-15.00/30
• Chartered Accountant House/Teams

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