Supporting SMEs in their Sustainability Transition: Siemens Paves Way with $100M Loan Fund
Great to see news of a global company proactively supporting Small Medium Enterprise (SME) #sustainability transitions! Just announced is Siemens’ launch of a $100 million programme to help decarbonisation efforts ranging from redesign of factory floors, implementing #technology to track #carbon emissions, introduction of #solarpanels, etc.
Increasingly, larger corporates are putting pressure on suppliers – including smaller firms – to cut #emissions. The upfront costs can be difficult to bear for many SMEs, and this has been recognised by the Siemens, which has opted to play an active role in helping ease the burden.
Anthony Casciano President and Chief Executive Officer of Siemens Financial Services Inc. reflected that the rollout of this USA-focused programme will start this next quarter, and loans will range from around $1 million to more than $10 million for three or more years.
According to a report issued by the U.S. Small Business Administration in 2019, small businesses accounted for 44% of economic activity in the US, delivering much the same percentage to the United States' GDP.
The sustainability transition of SMEs is therefore paramount to delivery of overarching country-wide #sustainabledevelopment goals. And Siemens’#SME programme and those like it can make a real difference to the acceleration of much-needed, timely action.
How might you leverage your business’ resources to help drive a sustainable #future?
#betterbusiness #sustainabledevelopment #leadership
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