Swiss financial giant SIX has launched a tool that will enable banking clients to make assessments on the sustainability performance of small- and medium-sized enterprises on their loan books.
The service is backed by Greenomy, an ESG assessment and reporting company that the Swiss company acquired late last year. With Greenomy’s software-as-a-service platform, the solution will help banks comply with regulations such as the EU’s new Banking Book Taxonomy Alignment Ratio (EU BTAR).
Further, banking clients will be able to gauge their debtors’ sustainability risk trajectories.
“The importance of gaining a clearer insight into the climate credentials of small and medium-sized enterprises cannot be overstated,” said SIX head of financial information Marion Leslie. “After all, SMEs represent 90 per cent of businesses worldwide, not to mention 99 per cent of the EU’s economy.”
The SME Sustainability Assessment Solution is the latest tool to be released by SIX this year. The Zurich-based operator of the stock exchanges of Switzerland and Spain unveiled a climate-specific data tool last month. That was the first in a programme of product releases that SIX head of ESG product strategy Martina McPherson said would create a one-stop-shop of sustainability data services.
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