Explainer: The landmark new reporting requirements for businesses - and what they need to know

The reputation of Ireland’s businesses is on the line as new EU requirements on sustainability come into the force and further laws are debated in Brussels

European flags in front of headquarters of European commission in Brussels on a summer day. Picture: Getty

Game-changing sustainability reporting requirements are piling up for Ireland’s businesses, who swiftly need to take action to ensure they comply.

As part of new European Union legislation, expected to be enacted this year, companies will be required to consider sustainability within their business models, and to report both their impacts on the environment and the risks they face from climate change or biodiversity loss.

The Irish government has described the new requirements as putting environmental ...