Horizon Tracker

Welcome to the Summer edition of the Matheson Horizon Tracker.

The Matheson Horizon Tracker describes key Irish and EU legislative and regulatory developments and this Summer Horizon Tracker follows the pattern of the Spring Tracker where we have waited for the passage of the legislative session to update you on key domestic developments, while also keeping an eye on the regulatory scene and developments from Europe. Our 'as of date' is therefore 13 June 2023 given that the end of the Dail Session coincides with our distribution of this Tracker.

Significant developments described in this Horizon Tracker relate to the continued drive to address climate change and sustainability matters more broadly speaking. Developments in relation to ESG and the Irish Funds industry continue apace and while our Financial Advisory practice areas focus on these specifically, there are related effects reported in many sections of this Tracker. In the specialised area of commercial real estate the description of changes in relation to monitoring carbon emissions of buildings makes for compelling reading. In an area that is similarly related to investment and funds we keep you up to date on developments in corporate sustainability reporting with a consideration of the Corporate Sustainability Reporting Directive (CSRD) which has now been passed by the EU, and awaiting transposition, and the more recently proposed, and as yet to be passed, Corporate Sustainability Due Diligence Directive (CSDDD).

The Horizon Tracker reflects themes which we have covered in our Knowledge Insights Series over the past six months. Most recently, at the end of May we held an event on the CSR in collaboration with PWC which can be accessed on our Knowledge Hub. Similarly, the introduction of a consumer representative action framework which we mentioned in the last Tracker, and which is described in more detail in our commentary for the Summer Tracker, will change the litigation landscape, if not immediately, certainly in the medium term. This was the subject of another Knowledge Insight Series event in May. Potential changes in litigation will be accelerated, particularly if and when this development is coupled with recommendations from the Kelly Report and the Company Law Review Group supporting the availability of third party funding for actions in limited areas.

In a different vein, but continuing our focus on issues arising from a changing macroeconomic context, and continued geopolitical uncertainty, we held an event on Finance and Debt Restructuring in April. The relevant changes in legal frameworks are considered in this Horizon Tracker.

To provide a relative point of departure, we refer back to the 2022 and Spring 2023 Horizon Trackers, where initiatives have been in the pipeline over the year (and in some cases beyond that). In our view this provides additional context. This edition is a web based production with links to commentary and analysis of key developments from each practice or subject area with links to further expert Matheson analysis. From there please follow links to the reference guide for all relevant legislative and regulatory instruments in that subject.

Related Knowledge events are available on our client facing platform, the Matheson Knowledge Hub. Our practice areas, our Professional Support Lawyers Faculty, and our Knowledge Team, collaborate to offer you a range of recorded webinars (with the facility for automatically generated CPD Certification) which are relevant to current developments described in the Tracker. If you wish to register for our Matheson Knowledge Hub you can contact us at KnowledgeHub@matheson.com. If you have any further questions, or require detailed advice please get in touch with your usual Matheson contact.

Irene Lynch Fannon, Head of Knowledge Management, Matheson LLP.