ESG Insights: Stay Updated with Our Latest News
In this month’s newsletter from Antaris Consulting, we delve into key developments in the area of sustainability. European lawmakers have backed the Nature Restoration Law, setting ambitious targets for restoring land and sea areas. Meanwhile, Enterprise Ireland launched a sustainability campaign, spotlighting their diverse support for businesses. Intel is making strides with ambitious climate action plans, urging suppliers to set net-zero goals.
Additionally, Irish capital fund management company Resolve Ventures introduces its ‘Climate Impact Fund,’ signalling a commitment to seed and advise sustainable startups. We also explore new ISO standards for carbon neutrality and the collaboration between EFRAG and GRI for enhanced sustainability reporting. Dive into the latest in regulations, corporate initiatives, and industry standards with us.
EU Lawmakers back the new Nature Restoration Law
The European Parliament and Council announced that they have reached a provisional agreement on new legislation aimed at restoring and protecting natural habitats and ecosystems, including a mandated target for EU countries to implement measures to restore at least 20% of the EU’s land and sea areas by 2030, and for all ecosystems in need of restoration by 2050. Both Irish MEPs, Independents for Change MEP Mick Wallace and Green Party MEP Grace O’Sullivan, voted in favour of the agreed text.
Enterprise Ireland Launches a New Sustainability Campaign
The campaign, which will include an initial six-week advertising campaign across radio, print and social, is designed to encourage take-up by businesses of the range of Enterprise Ireland supports to assist them on their sustainability journey. Enterprise Ireland has a wide range of supports designed to assist our clients on their sustainability journey. That includes consultancy advice, capacity-building support and financial grants for projects that reduce carbon emissions.
3. Corporate News
Intel Asks Suppliers to Set Net Zero Targets
Intel has announced the release of its Climate Transition Action Plan, with a new commitment to achieve net zero greenhouse gas emissions in its upstream value chain by 2050, including planned actions to request suppliers to set their own net zero goals. The Climate Transition Action Plan sets out a series of actions planned by the company to achieve its goals. Near-term actions targeting emissions reductions in its upstream value chain include requesting suppliers to set 100% renewable energy and net zero targets, and to develop project roadmaps to achieve their goals.
Resolve Ventures launch its new ‘Climate Impact Fund’
Resolve Ventures, an Irish capital fund management company led by managing partners David Scanlon and Alan Costello, has announced the launch of its new ‘Climate Impact Fund,’ following successful support from the Irish Innovation Seed Fund. This fund, approved by the European Investment Fund, Enterprise Ireland and NTMA Ireland Strategic Investment Fund, will be used to seed and advise Irish early-stage breakthrough companies operating in sustainability and climate tech.
4. Standards and Guidance
ISO Publish Carbon Neutrality Standard: ISO 14068-1
The International Organisation for Standardisation (ISO) has issued the first segment of their ISO 14068 series, ISO 14068-1: 2023 Carbon Neutrality. The standard specifies principles, requirements and guidance for achieving and demonstrating carbon neutrality through the quantification, reduction and offsetting of the carbon footprint.
EFRAG and GRI to Collaborate on Sustainability Reporting
The European Financial Reporting Advisory Group (EFRAG) and the Global Reporting Initiative (GRI) have announced a new cooperation agreement to further collaboration and cooperation on sustainability reporting and commit the organisations to continue working together to deliver technical support for reporting companies. As the first tangible outcome of this cooperation agreement, a GRI-ESRS Interoperability Index has been made publicly available today. The tool sets out how the disclosure requirements and data points in each set of standards relate to each other, emphasising the high degree of commonality already achieved and laying down solid foundations to build a reciprocal digital taxonomy.