The European Union (Corporate Sustainability Reporting) Regulations 2024 require that all large companies and all listed companies (except listed micro-enterprises) report sustainability information in accordance with European Sustainability Reporting Standards in the directors’ report.

Sustainability reporting must be provided with an auditor’s opinion with limited assurance and reported digitally.

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’s Action Plan for Financing Sustainable Growth.

“These regulations provide a helpful structure to companies for preparing sustainability reporting in a clear and consistent way, that gives the relevant information to investors, consumers, and other stakeholders, whilst minimising unnecessary burdens on companies.

“I am happy to announce that the European Union (Corporate Sustainability Reporting) Regulations 2024 are being implemented on time in Ireland, in compliance with the EU transposition deadline, and I know this will bring the necessary certainty to both the preparers and the users of sustainability reporting.”

Dara Calleary, minister of state for trade promotion, digital and company regulation, added: “The regulations play an important role in addressing risks posed by climate change to financial systems, and in channelling future investments and consumption towards companies that have a clear sustainability focus.

“The regulations will be highly useful to the companies, and to investors and consumers alike, and bring predictability for all stakeholders in this valuable aspect of Ireland’s active response to the climate agenda at national and European level.”