Dara Calleary (Mayo, Fianna Fail)
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The Corporate Sustainability Reporting Directive (CSRD) entered into force in January 2023 and Ireland along with other EU member states have until 6 July 2024 to give effect to the new requirements. The first companies in scope, however, will be required to report from financial years commencing on or after 1 January 2024 financial year, and to that end, my Department is endeavouring to transpose the Directive as soon as possible in order to provide clarity for Irish businesses.

My Department has engaged extensively with stakeholders including companies in scope of the new requirements throughout the development of the Directive. As the Deputy will know from my response to his recent question, two well attended webinars have already been held this year setting out in detail the new requirements. Attendees also benefitted from presentations from the EU Commission, EFRAG and industry experts. Further stakeholder webinars are planned for later this year.

The Government also provides a range of climate action resources to help businesses on their journey to decarbonise and become more sustainable. The Climate Toolkit 4 Business provides businesses with practical ways to start taking action. The Green Transition Fund includes a number of supports that assist businesses to make the green transition such as vouchers to help companies prepare a plan for the low carbon economy of the future; capital support for companies to invest in decarbonising their manufacturing processes, and grants to develop of new or improved sustainable products, services or processes.

The Local Enterprise Offices (LEOs) offer Green for Business to small businesses, which provides two days of intensive mentoring including a sustainability audit and action plan, designed to help 'green' their business through resource efficiency and environmental management systems to reduce costs and lower greenhouse gas emissions. The LEOs also offer the Energy Efficiency Grant to small businesses to help them invest in technologies and equipment that reduce their impact on the environment and increase their agility and resilience. Further supports are available through the Sustainable Energy Authority of Ireland’s Non-Domestic Microgen Scheme for installing Solar PV panels, and the Support Scheme for Renewable Heat, which offers grants to businesses who wish to install renewable heat systems. All of the measures outlined can assist companies in the transition to net zero.

Finally, in September I chaired the first meeting of the Responsible Business Forum which serves as a platform for experienced businesses representatives to engage and input on both mandatory and voluntary initiatives, which guide and regulate different aspects of responsible business. The forum will discuss initiatives already in place or being developed at national and EU level including the CSRD, how they will impact on businesses and what will be expected of businesses that fall within their scope. It is my intention that the work of the forum will also focus on improving available supports to assist businesses in the adoption of the initiatives and the positive outcomes for early adopters.