We are pleased to acknowledge an important initiative coordinated by the “Sustainable Finance Working Group” of the Ministry of Economy and Finance (MEF) to promote sustainability in SMEs and support them towards the green transition. 

The document prepared by the MEF, available for public consultation until August 2, 2024, provides a reference model for standardizing sustainability information to be communicated to banks. This aims to facilitate dialogue between SMEs and financial institutions and meet the sustainability reporting needs of both parties. 

Providing the sustainability information required by the market also serves as a management tool, enabling SMEs to better assess risks, optimize investment planning, enhance resilience to the effects of climate change and energy stress, and design more sustainable solutions, products and services. 

The document aims to reduce the confusion and difficulties that SMEs face in ESG disclosure, thus promoting more effective communication with banks, investors, and other stakeholders. This is based on 45 standard ESG indicators that can ensure the necessary transparency and comparability in the allocation of financial resources. 

The indicators are divided into five thematic sections (General Information; Climate Change Mitigation and Adaptation; Environment; Society and Workforce; Governance and Business Conduct) and are designed to be proportional to the size of the SMEs, ensuring standardization that takes into account the specific characteristics of each enterprise. 

Participation in the public consultation is open and encouraged to gather useful insights and suggestions from SMEs and banks. To participate, visit the MEF Department’s website at this link.