Dublin Chamber was delighted to attend and partner with the ESG summit that took place in Croke Park on the 30th of April 2024. The theme was “Are you prepared for the changing regulatory environment?” There is a huge amount of Jargon which hinders companies in understanding how they can transition to becoming more sustainable and understanding the regulatory environment and the new obligations that exist for companies under the corporate sustainability reporting directives. A Slido poll at the event showed that people who attended (mainly people who work in ESG) felt that companies were under-prepared for the reporting requirements of Corporate Sustainability Reporting Directive (CSRD). Many speakers spoke about the importance of monitoring and measuring and the urgency of companies needing to do it right now to be compliant.
There was a spotlight on due diligence and what the CS3D will mean for companies.
On March 15th, the EU Council approved the Corporate Sustainability Due Diligence Directive, a pivotal milestone in Europe’s climate action strategy. Once implemented the CS3D will impose an unparalleled and extensive corporate governance duty on many companies based in and outside the EU.
What is required of companies?
- To establish due diligence policy and systems, seek data and monitor impact. Document data and appraisal.
- Take action for actual or potential adverse impacts and document decisions and actions
- Publish a statement via CSRD
- To adopt a climate action plan
The impacts of non-compliance are monetary sanctions and civil liability.
Enterprise Ireland and Solus delivered information on all the help and support that are available to companies in the green transition and companies at the start of the journey were urged to take part in the Kickstarter programme and could avail of the Solas training.
EEN at Dublin Chamber are offering SMEs a sustainability Assessment and an opportunity to apply for the EENergy an opportunity to apply for €10,000 for equipment training and consultancy to help them reduce their energy.