· 2 min read
illuminem summarizes for you the essential news of the day. Read the full piece on ESG Today or enjoy below:
🗞️ Driving the news: EY has unveiled its Sustainable Finance Innovation Hub in Dublin, designed to assist financial institutions worldwide in adhering to their ESG (Environmental, Social, and Governance) reporting and regulatory obligations
• The hub is set to significantly expand EY Ireland's financial services sustainable finance team by adding 40 specialists in the coming months
🔭 The context: The establishment of this hub responds to the increasing regulatory demands within the financial sector, including imminent disclosure deadlines
• EY's initiative aims to help firms report their activities more efficiently and ensure compliance with the evolving regulatory landscape, emphasizing the sector's pivotal role in transitioning towards sustainability
🌍 Why it matters for the planet: Financial institutions are integral to funding and facilitating the global shift to a sustainable future
• By enhancing their capacity to manage and report on ESG criteria effectively, the hub contributes to a broader effort of directing investments towards more environmentally and socially responsible projects and initiatives
⏭️ What's next: With the addition of 40 specialists, the Dublin hub is poised to become a key global center for sustainable financial services innovation
• EY anticipates significant revenue growth in the next year as it scales up operations to meet the rising demand for its services among clients worldwide
💬 One quote: "The requirement for tangible progress on ESG matters in the financial sector has intensified of late," (Sean MacHale, EY Ireland Financial Services partner)
📈 One stat: No specific stats provided
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