Community of Practice Events –
February 2023 saw the delivery of the first two International Sustainable Finance Centre of Excellence Communities of Practice gatherings. The first, the ‘Climate Reporting and Disclosures’ group was formed to help finance professionals navigate the reporting landscape, including regulatory changes from an EU perspective. We were delighted to welcome Policy and External Affairs Director with International Financial Reporting Standards (IFRS) Mihály Zimonyi, to KPMG’s ‘Platform X’, to discuss regulatory convergence as well as the upcoming ISSB standards.
The second of the month’s sessions centred on the ‘Net-Zero Transition’ with guest speaker Sarah Ní Ruairc from the Department of the Environment, Climate and Communications, who spoke on the government’s Climate Action Plan 2023. The Climate Action Plan 2023 is the first to be prepared under the Climate Action and Low Carbon Development (Amendment) Act 2021 and follows the introduction of economy-wide carbon budgets and sectoral emissions ceilings in 2022.
The plan implements the carbon budgets and sectoral emissions ceilings and sets out a roadmap for taking decisive action to halve our emissions by 2030 and reach net-zero no later than 2050, as committed to in the Programme for Government. It sets out how Ireland can set climate solutions at the centre of social and economic development.
Supported by Skillnet Ireland, the establishment of Communities of Practice are key actions from the ‘Industry Readiness’ pillar from Irelands Sustainable Finance Roadmap.
In the coming months, the Communities of Practice sessions will focus on topics (as selected by members) including Target Setting and KPIs, Stress Testing and CSRD.