A new innovation hub will be opened in Dublin to support global financial institutions push forward with meeting environmental, social and governance (ESG) regulatory and reporting requirements.
With 40 specialist hires coming in, EY Ireland Financial Services partner Sean MacHale projects double digit growth over the next twelve months.
Further, a network of individuals with deep sustainability expertise across Europe, Asia-Pacific and the US are expected to come together to offer advice to clients on ESG reporting, drilling down on biodiversity, nature, EU regulation, international goals, and more.
Colin Ryan, EY Ireland financial services country lead, comments: “The financial services sector plays a central role in the transition to a more sustainable future and we are now significantly expanding our capacity to deliver end-to-end sustainable finance transformation services to clients in the sector. The addition of 40 specialist hires across the three pillars of ESG will see our Dublin hub become a globally significant centre for innovation in the area of sustainable financial services. The sector must comply with an increasing volume of regulatory requirements over the coming years, and many firms already face multiple deadlines this year alone. Our new hub will support firms to more effectively report on their activity and will help clients ensure that they remain compliant with the evolving regulatory environment.”
MacHale adds: “The requirement for tangible progress on ESG matters in the financial sector has intensified of late. Firms face pressing regulatory reporting and disclosure demands and must demonstrate transparency and accountability when it comes to the progress they are making towards Net Zero goals and positive environmental impacts in a socially inclusive manner. Managing the global flow of capital means the financial sector has a unique ability to drive material positive change, and we are really proud to support firms on their continuing ESG journey.”
Fidelma Clarke, financial services risk consulting partner, says: “With so much activity in the area of sustainability reporting right now, it's important that our clients have the resources they need to keep pace. We are delighted to be strengthening our long-standing commitment of delivering positive change.”
Shaun Carazzo, EY EMEIA financial services climate change and sustainability leader, concludes: “Sustainability is a top agenda item for all financial services firms worldwide, and covers individual Net Zero transition plans all the way to the development of greener services and products. Our innovation hub demonstrates EY’s commitment to the ESG agenda and will build on our already market-leading sustainable finance advisory business. By bringing the EY network of sustainable finance talent together, we can offer a one-stop-shop to clients, and I look forward to building out the hub as we respond to demand.”