Ireland introduces new EU rules on corporate sustainability reporting

This European Union (Corporate Sustainability Reporting) Regulations 2024 require all large enterprises and all listed companies (except listed micro-enterprises) to report sustainability information in line with the European Sustainability Reporting Standards in the management report.

Sustainability reports must be prepared with a limited assurance audit opinion and submitted in digital form.

Enterprise, Trade and Employment Minister Peter Burke said: “The signing of these important regulations today marks a significant step the Government is taking in the context of the European Green Deal and the EU Action Plan on Financing Sustainable Growth.

“These rules provide a supportive framework for companies to prepare their sustainability reports in a transparent and consistent way that provides meaningful information to investors, consumers and other stakeholders, while minimising unnecessary burdens on companies.

“I am pleased to report that the European Union (Corporate Sustainability Reporting) Regulations 2024 are being implemented in Ireland on time for transposition into EU law. I know this will provide much-needed certainty to both preparers and users of sustainability reporting.”

Dara Calleary, Minister of State for Trade Promotion, Digitalisation and Business Regulation, added: “Regulation has an important role to play in addressing the risks that climate change poses to financial systems, and in directing future investment and consumption towards businesses that have a clear focus on sustainability.

“This legislation will be extremely useful for businesses, investors and consumers alike, and will provide predictability for all stakeholders in this important aspect of Ireland’s active response to the climate agenda at both national and European level.”