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SIX launches SME Sustainability Assessment Solution with Greenomy

Tuesday 27 February 2024 11:16 CET | News

SIX has launched a new solution enabling the global banking clients of SIX to measure the sustainability performance of their SME clients. 

According to the press release, the new launch also helps to assess climate and sustainability risk trajectories linked to SMEs' lending books. This product launch also follows SIX's partnership with Belgium-based ESG assessment and reporting specialist, Greenomy. 

The announcement further states that under this partnership, SIX and Greenomy are recognising the pivotal role that SMEs can play in the transition to a sustainable and low-carbon economy.

SIX has launched a new solution enabling the global banking clients of SIX to measure the sustainability performance of their SME clients.

SIX’s new SME Sustainability Assessment Solution draws on Greenomy’s SaaS platform and assists SIX’s banking clients in assessing the sustainability performance of their SME clients. Additionally, it defines the sustainability transition trajectories of these debtors.  

The solution therefore enables calculating the EU's Banking Book Taxonomy Alignment Ratio (EU BTAR), a regulatory metric gauging a bank's SME lending alignment with EU sustainability directives. This aids banks in meeting reporting obligations by assessing the degree of exposure of their lending books to SMEs. 

The announcement continues to highlight the importance of gaining a clearer insight into the climate credentials of SMEs, as they represent 90% of businesses worldwide and 99% of the EU’s economy. SMEs also play an important role in driving innovation and growth. Therefore, the aim of this partnership is to ensure lenders are well informed about the sustainability trajectory of firms seeking funding and to help banks themselves deliver on their climate funding commitments. 

Officials at Greenomy stated that the new SIX SME Sustainability Assessment Solution, powered by its technology and sustainability aims to ease the reporting journey for SMEs and to empower them to take the next steps towards sustainability. 

About SIX 

Based in Switzerland, SIX operates and develops infrastructure services for the Swiss and Spanish Stock Exchanges, for post-trade services, banking services and financial information to raise efficiency, quality, and innovative capacity across the entire value chain of the Swiss and Spanish financial centres. The company is owned by its users (120 banks) and has a presence in 20 countries. 

About Greenomy 

Greenomy stands at the forefront of ESG reporting solutions, providing global corporations with a pathway to compliance with key frameworks including CSRD, EU Taxonomy, GRI, ISSB, and more. Leveraging its SaaS portal, Greenomy unifies complex regulatory demands into a coherent data model, fortified by ESG data libraries and the power of Generative AI. This integration seeks to empower organisations to simplify the creation of comprehensive sustainability reports, allowing ESG teams to focus on driving impactful transformations. 

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Keywords: sustainability , green finance, ESG, report, partnership, SMEs, SME lending
Categories: Banking & Fintech
Companies: Greenomy, SIX
Countries: Switzerland
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