Anjana Ajith
Sustainability Senior Researcher, Irish Manufacturing Research
Sustainability reporting and compliance have become pivotal for businesses in Ireland amid global calls for environmental stewardship. Explore Ireland’s journey in this realm, touching upon motivations, regulations and benefits.
The Corporate Sustainability Reporting Directive (CSRD) is propelling Irish businesses towards greater transparency and environmental stewardship. However, amid this progress, we must question whether these efforts truly drive meaningful change or merely satisfy regulatory requirements.
Motivations for sustainable reporting
While 95% of companies surveyed by KPMG engage in sustainable reporting, we must ask if their motivations are genuine in the need to be more sustainable or driven by regulatory pressure and investor demands. The survey foresees that once CSRD gains momentum in 2024, the reporting will become mandatory for all companies.
Standardising reporting formats and metrics is vital, but we must recognise the complexities of measuring sustainability. Current frameworks may oversimplify issues, failing to capture the true environmental footprint.
Sustainable reporting should be a strategic imperative because it yields benefits like innovation fostering, enhanced reputation, investor appeal and risk mitigation. Moreover, it is a transformational tool rather than mere compliance.
Irish Manufacturing Research (IMR) offers support
in navigating sustainable reporting complexities.
Irish businesses lead in sustainability
Key environmental initiatives, such as the EU Green Deal (European Commission) give Irish businesses the opportunity to lead in addressing global challenges like the climate crisis and biodiversity loss, redefining corporate responsibility for a sustainable future.
As CSRD comes into force this year, it is expected to increase the need for companies to report on their sustainability performance, as it expands the scope of reporting obligations and introduces more stringent requirements, thereby encompassing a larger number of companies across the EU.
Sustainability support for businesses
Irish Manufacturing Research (IMR) offers support in navigating sustainable reporting complexities. Through guidance, solutions and capacity-building programmes, we assist businesses in driving genuine change and embracing sustainability as a competitive advantage. Let’s collaborate to build a resilient future.