Ireland‘s first Climate Transition Plan Scorecard report has found that while Irish companies are making progress in areas such as decarbonisation, climate risk and financing the transition, they are falling short on emissions reduction and nature targets.
The report was carried out by the DCU Institute for Climate and Society in partnership with Business in the Community Ireland (BITCI), and assessed the first ten signatory companies to BITCI’s Accelerate: The Business Pact for Climate and Nature programme, a voluntary initiative that encourages firms to set net zero targets and adopt holistic climate transition plans.
The signatory companies include Bidvest Noonan, Bus Éireann, Deloitte, Equinix, Gather & Gather, John Paul Construction, Kyndryl, Mitie, SSE, and Vhi, with the Scorecard assessing said firms across nine areas related to targets, nature, just transition, value-chain emissions, operational levers, governance, finance, risk and advocacy.
‘A difficult time’
“We hear from our members every day what a difficult time this is for many sustainability leads,” commented Laura Morrison, BITCI’s head of responsible business. “International leadership on climate action is slipping, and even while the effects of climate change are becoming more apparent, the science is being challenged by influential actors with political agendas.
“So it’s heartening to see companies in Ireland still committed to joining voluntary initiatives and showing best practice in areas critical for their transition. The Scorecard shows each of these ten companies is demonstrating best practice in at least one area, which reinforces the importance of peer-to-peer learning and support.”
Among the key findings from the report are that most companies have set science-based climate targets covering their entire value chain, but emissions reductions are not yet happening at the required pace, particularly with regard to Scope 3 emissions.
In addition, while sustainability oversight is now embedded in most company boards, few include climate or nature specialists or link executive pay to environmental performance.
‘More urgent than ever’
“With the rollback of sustainability reporting regulation, it’s more urgent than ever that companies voluntarily take ambitious climate action and achieve results,” added Dr Aideen O’Dochartaigh, DCU Institute for Climate and Society and co-author of the study.
“Thankfully, most companies are still taking the climate and biodiversity crises seriously and the Accelerate companies are among many who have reaffirmed their commitment to addressing climate and nature challenges. Progress on emissions reduction is not at the pace required, at corporate or country level, and nature and just transition are not typically engaged with in depth. However, some measurable progress on absolute emissions reduction is observed, and the foundation for improved performance has been laid.”
Elsewhere, another co-author, Dr. Jimmy O’Keeffe, DCU School of History and Geography, added that the Scorecard indicates that Irish businesses are “beginning to step up to climate change and biodiversity loss”, adding, however, that “ambition alone is not enough”.
Pictured are Laura Morrison, BITCI head of responsible business, Meaghan Carmody, BITCI senior sustainability adviser and Accelerate Pact manager pictured with Asst Prof. Jimmy O’Keeffe. DCU and Dr.Aideen O’Dochartaigh DCU at the launch of Ireland’s first Climate Action Plan Scorecard in the Radisson Blu Hotel, Dublin. Read more here.
