New EU Corporate Sustainability Rules Now Effective in Ireland

Ireland has implemented new EU regulations on corporate sustainability reporting, known as the European Union (Corporate Sustainability Reporting) Regulations 2024. These rules mandate that all large and listed companies, except listed micro-enterprises, include sustainability information in their directors’ reports, adhering to European Sustainability Reporting Standards. The sustainability reports must be accompanied by an auditor’s opinion with limited assurance and be reported digitally. Enterprise Minister Peter Burke emphasized that these regulations align with the European Green Deal and the EU’s Action Plan for Financing Sustainable Growth, providing a structured and consistent approach to sustainability reporting without imposing unnecessary burdens. Trade Minister Dara Calleary highlighted the regulations’ role in mitigating climate change risks to financial systems and directing investments toward sustainable companies, thereby benefiting companies, investors, and consumers alike.