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New EU Law Corporate Sustainability Reporting Directive & Cycling

Nov 20, 2023

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This week, Cycle Friendly Employer Ireland is participating in Climate Finance Week #CFWI23.

The week aims to provide opportunities for knowledge sharing, collaboration, and discussion on sustainability and the environment. The event is being held in conjunction with the Department of Finance and is sponsored by AIB.   The European Commission will implement the Corporate Sustainability Reporting Directive (CSRD) in 2024, as Europe continues to work towards its goal of becoming a climate-neutral continent. The Central Bank of Ireland certified as a cycle friendly employer in 2023 as part of the banks sustainability strategy and support the new carbon reporting standard.

This new law will initially apply to 50,000 companies, requiring them to disclose more information about their environmental, social, and governance (ESG) performance along with finance management reports. In 2026, small and medium-sized businesses will be required to comply with the law.  

Corporate Sustainability Reporting Directive and Ireland READ  

Where does Cycling fit into ESG reporting and CSRD?  

Environment -Cutting Greenhouse Gas Emissions from transportation by using bikes and cycling.  
Social – Supporting Diversity & Inclusion. Improving  employee Health & Wellbeing.  
Governance – Suppliers use bikes to deliver products reducing carbon emissions in supply chains.