Environmental, Social & Governance (ESG)
Introduction
ESG Sub-Committee
The CIF ESG Sub-Committee aims to advance ESG practices in the industry and bolster its reputation through positive narratives. Its mandate involves addressing policy matters in sustainability, advising on ESG pillars including embodied carbon, managing relations with relevant bodies, implementing approved policies, and providing leadership for waste management initiatives.
What is ESG?
ESG is the flow of non-financial information that principally aids decision-making. While financial data has been gathered and disclosed in annual accounts for over a century, there hasn’t been a universally accepted method for collecting and presenting non-financial data such as carbon emissions, diversity, biodiversity loss, worker-related rights and so forth. Numerous voluntary reporting initiatives have emerged in recent years, resulting in considerable administrative burdens for certain companies. However, with the implementation of the EU’s Corporate Sustainability Reporting Directive (CSRD), sustainability reporting will be placed on an equal footing with financial reporting, leading to the streamlining and standardisation of reporting processes, thereby mitigating the risks associated with greenwashing.
Equality, Diversity and Inclusion Statement:
The CIF’s ESG committee is committed to encouraging equality, diversity and inclusion among its membership and in the implementation of its mandate.
CIF Diversity Charter
The Construction Industry Federation, in collaboration with The Irish Centre for Diversity, presents the CIF Diversity and Inclusion charter. Construction companies are increasingly integrating D&I practices into their organisations to ensure they and their workforces benefit from diversity and inclusion.
This charter outlines your commitment to advancing diversity and inclusion in your company. By signing up to this charter, you are publicly committing to taking steps to promote diversity and inclusion in your workplaces and your industry. By doing so, you’ll be joining thousands of other companies and organisations across Ireland in promoting D&I.
Sustainability
In development.
Resources
Corporate Sustainability Reporting Directive (CSRD)
The ABC of the CSRD
The ABC of the CSRD
25th March 2024 pdf (1.01 MB)
The Essentials of the CSRD
The Essentials of the CSRD
25th March 2024 pdf ()
CIF ESG Ladder
CIF ESG Ladder
25th March 2024 pdf (1.72 MB)
European Sustainability Report Standards (ESRS)
EFRAG has provided twelve ESRS standards across E, S & G. These standards are collated in the CSRD Delegated Act document below
CSRD Delegated Act Annex 1
CSRD Delegated Act Annex 1
25th March 2024 pdf ()
Draft EFRAG IG 2 VCIG 231222
Draft EFRAG IG 2 – Value Chain
25th March 2024 pdf ()
Draft EFRAG IG 3 – List of ESRS datapoints explanatory note
Draft EFRAG IG 3 – List of ESRS datapoints explanatory note
25th March 2024 pdf ()
Draft EFRAG IG 3 List of ESRS Data Points
Draft EFRAG IG 3 List of ESRS Data Points
25th March 2024 xlsx ()
Questions and Answers on the Adoption of European Sustainability Reporting Standards
Q&A on the Adoption of European Sustainability Reporting Standards
25th March 2024 pdf ()
Double Materiality Assessment
A materiality assessment is mandatory under the CSRD. It is a process of identifying the sustainability issues that are most important to a company’s stakeholders. This can help reduce the number of disclosure topics to be reported. However, company-specific or entity-specific topics may also arise as part of the assessment which are not covered by the ESRS but are material for the company and must therefore be reported. Similarly, topics may arise which are important to the company but are not material and therefore do not need to be reported.
The CSRD employs a dual approach, necessitating companies to perform a double materiality assessment. Companies must ascertain and evaluate the significance of their material impacts on society and the environment (inside-out view), alongside appraising the risks and opportunities posed by ESG issues to the company and its value chain (outside-in view).
Double materiality has two dimensions: impact materiality and financial materiality. A sustainability matter meets the criterion of double materiality if it is material from the impact perspective or the financial perspective or both.
Draft EFRAG IG 2 – Materiality Assessment
25th March 2024 pdf ()
Carbon Footprinting
Carbon Footprinting – General Guidance
Carbon Footprinting – General Guidance
25th March 2024 pdf (955.93 KB)
Guidance for GHG Accounting and Reporting
Guidance for GHG Accounting and Reporting
25th March 2024 pdf (1.86 MB)
SEAI Conversion factors
https://www.seai.ie/data-and-insights/seai-statistics/conversion-factors/
Useful links
- Supply Chain Sustainability School Ireland
- Supply Chain Sustainability School UK
- DETE Responsible Business
- EFRAG European Financial Reporting Advisory Group
- Sustainable Energy Authority of Ireland
- Climate Toolkit 4 Business