WEXFORD businesses have been urged to begin preparing for new EU corporate sustainability reporting responsibilities which are due to come into effect from January 2024.
Commenting on the forthcoming measures leading environmental governance expert, Dr Diarmuid Torney, said businesses should begin getting ready now.
Dr Torney, who is an Associate Professor in DCU’s School of Law and Government, made his comments ahead of a free online masterclass for businesses, facilitated by the Climate Ready Academy.
The masterclass focused attention on the subject of corporate sustainability reporting and the role of business and Ggovernment in achieving transformative change.
The masterclass, which will take place on Thursday, July 28, will be hosted by broadcaster Ella McSweeney, and is open to businesses of all sizes and across all sectors.
Businesses attending will gain insight into the evolving climate change policy landscape, understand the implications for their business arising from national and EU policies and regulations and receive practical tips about how their business can respond to the climate challenge.
Dr Diarmuid Torney, who is also co-director of the DCU Centre for Climate and Society, said: “New EU rules around corporate sustainability reporting are expected to come into effect from January 2024 for large companies and will be extended to SMEs from January 2026 as a core part of the European Green Deal.”
He said “all companies should consider the impact of such reporting on their business and begin planning immediately for these new regulations”.
The masterclass will take place virtually via Zoom on Thursday, July 28, from 1 p.m. to 2 p.m. and those business owners in County Wexford wishing to attend the free event can register through www.climatereadyacademy.ie/masterclasses/
The event is part of a series of free initiatives hosted by Climate Ready Academy, which offers leadership and skills support to businesses wanting to develop their operational and strategic sustainability. The Climate Ready Academy is a Skillnet Ireland initiative delivered by Central Solutions.