A new innovation hub is set to launch in Dublin, aimed at assisting global financial institutions in meeting environmental, social, and governance (ESG) regulatory and reporting requirements.
With 40 specialized hires, Sean MacHale, a partner in EY Ireland’s Financial Services, anticipates double-digit growth in the coming year. This hub will pool together a network of experts with extensive sustainability knowledge from Europe, Asia-Pacific, and the US, offering guidance on ESG reporting that addresses biodiversity, nature, EU regulations, international goals, and more.
Colin Ryan, the country lead for EY Ireland’s financial services, states, “The financial services sector is crucial in the shift towards a more sustainable future, and we are significantly enhancing our capacity to provide comprehensive sustainable finance transformation services to clients. The recruitment of 40 specialists across the three pillars of ESG will transform our Dublin hub into a globally significant center for innovation in sustainable financial services. As regulatory demands increase, many firms are already facing multiple deadlines this year. Our new hub will aid firms in efficiently reporting their activities and ensuring compliance with the changing regulatory landscape.”
MacHale emphasizes the urgency for tangible progress in ESG matters within the financial sector. “Companies must address pressing reporting and disclosure requirements and demonstrate accountability regarding their advancements towards Net Zero goals and positive environmental impacts. With their ability to manage global capital flows, the financial sector holds a unique position to drive meaningful change, and we are committed to supporting firms on their ESG journeys.”
Fidelma Clarke, a partner in financial services risk consulting, notes, “Given the current surge in sustainability reporting activities, it’s crucial for our clients to have the resources necessary to keep up. We are excited to reinforce our long-standing commitment to delivering positive change.”
Shaun Carazzo, the leader for EY EMEIA financial services climate change and sustainability, concludes, “Sustainability remains a critical agenda for financial services firms globally, encompassing everything from individual Net Zero transition plans to the creation of greener products and services. Our innovation hub reflects EY’s dedication to the ESG agenda and will enhance our already leading sustainable finance advisory capabilities. By uniting our network of sustainable finance experts, we can provide clients with comprehensive support, and I look forward to expanding the hub in response to growing demand.”