Getting ready for CSRD: How Irish firms are helping multinationals go green

We are all on a journey towards a more sustainable future, and with increased European sustainability reporting requirements on the horizon, many multinationals based here are choosing Irish suppliers as a way to support them on their journey to progress their sustainability plans and contribute towards a better future for all. This was the key focus at Sustainability Solutions for MNCs (Multinational Corporations), a recent event organised by Enterprise Ireland and IDA Ireland. The event brought together 10 multinationals and 21 Irish-owned companies supported by Enterprise Ireland, to explore sustainable solutions on offer from Irish businesses.

The aim was to demonstrate how Irish companies are often best placed to help large multinationals make tangible sustainable changes as they prepare for Corporate Sustainability Reporting Directive (CSRD) reporting. Sustainability means longevity and sustainable practices can help to improve brand reputation. Photo: Getty Images This EU law, which came into force in January 2023, mandates large companies and listed companies to disclose information on the social and environmental risks and opportunities they face.



As well as it being the right thing to do, there is also an increased focus on sustainability for business leaders as they have to address regulatory compliance requirements. But addressing this global challenge also presents an opportunity and competitive imperative. Sustainability means longevity.

Sustainable practices can help to improve brand reputation, and there are increasing expectations in this regard from both customers and investors. Being more energy-efficient and reducing waste can also reduce costs at scale. Localisation – or using local vendors – shortens supply chains.

Beyond reducing environmental impact, shorter supply chains are less vulnerable to disruption, while reduced travelling times can result in lower shipping costs and faster deliveries. There is also better oversight on each stage when there are fewer variables to consider. Diversifying supply chains can also help stimulate local economic growth, create jobs and support local businesses Enterprise Ireland is encouraging large companies to consider how they can potentially diversify their supply chains, so they have a pool of local suppliers to call on.

This can mitigate against potential risks or disruptions where one supplier isn’t available. It can also help stimulate local economic growth, create jobs and support local businesses. Digitalisation is a core focus for Irish business, with artificial intelligence (AI) and machine learning (ML) at the forefront of tech conversations.

Across processes and workflows, digital transformation can streamline operations within an organisation. AI and ML can also optimise the day-to-day running of an organisation. While CSRD will affect multinationals directly, it will also have indirect repercussions for their smaller suppliers, as they will need to supply information to enable the larger companies to complete their CSRD reporting.

Being more energy-efficient and reducing waste can also reduce costs at scale. Photo: Getty Images To help them prepare, Enterprise Ireland has a number of events planned for 2025. The first – Sustainability and Circularity Solutions for MNCs, organised in conjunction with IDA Ireland – is set to take place at Digital Manufacturing Ireland in Castletroy, Limerick on March 5.

Registration for next March’s event in Limerick will open in January 2025. Visit EnterpriseIreland.ie to learn more.

Mike Hogan, Strategic Industry Solutions, Enterprise Ireland.