Simon Coveney (Cork South Central, Fine Gael)
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I understand that the Deputy is referring to Corporate Sustainability Reporting Directive (EU) 2022/2464 which entered into force in January 2023 and replaced the Non-financial Reporting Directive 2014/95/EU. Ireland along with other EU member states has until 6 July 2024 to transpose the Directive and officials in my Department are working with the Office of the Parliamentary Counsel on the necessary legislation to give effect to the new requirements for sustainability reporting by large companies and public interest entities.

The introduction of the new requirements has been sequenced in the Directive whilst still maintaining ambition. This will allow companies, the accounting and audit industry time to understand the new standards, start measuring the relevant data and deepen the knowledge and skills necessary.

The Directive arises from the European Green Deal’s climate change action objectives, to further enhance the disclosure by companies on climate and environmental data. There are a suite of Government supports available to assist companies of all sizes in the green transition, including supports to enhance the people and digital skills that will be needed. I would encourage all companies, to engage with the supports on offer through the enterprise agencies, Enterprise Ireland, IDA Ireland, LEOs, and the SEAI.