Siemens is offering a $100 million funding package to help small and medium-sized enterprises in the United States kickstart their sustainability projects, environmentalleeader.com writes.
Smaller companies, according to Siemens, may lack the funds to adopt sustainability initiatives, but they account for the majority of the country’s economy and may have a significant influence on emissions. Because many major corporations rely on smaller firms in their supply chains, measures aimed at increasing sustainability at that level can also assist lower Scope 3 emissions.
Siemens Smart Infrastructure and Siemens Financial Services are launching a program to assist small and medium-sized enterprises in developing comprehensive sustainability plans. According to the corporation, Siemens will provide advisory services, financing choices, and technology to assist businesses become more efficient, resilient, and sustainable.
According to the corporation, a well-designed sustainability strategy is required for all organizations, and capital support will assist drive the process. This can also help with bigger emission reduction targets, both at the national and international levels.
The United States has set a target of reaching net zero emissions by 2050. More firms are going beyond their own sustainability goals to track and optimize operations throughout whole supply chains, with a rising emphasis on addressing Scope 3 emissions.
According to Forbes, small businesses employ roughly half of the workforce in the United States, implying that the cumulative impact on carbon emissions might be significant. The EPA has developed a roadmap for small businesses and low greenhouse gas emitters to enhance their performance.
In a similar vein to assisting small businesses with sustainability, the Department of Energy gave $127 million to startups working on sustainable energy technologies last year.
The Siemens money is available for a number of carbon-reduction projects. Companies interested in the initiative should contact Siemens and describe their commitment to developing sustainable operations as well as their obstacles. Those organizations chosen for the initiative will next work with Siemens to create a customized sustainability roadmap.
According to Anthony Casciano, CEO of Siemens Financial Services, Inc., small and medium-sized businesses are the backbone of our economy, but they may not have access to the same cash as our country’s largest organizations when it comes to implementing sustainability changes.
With each component of the supply chain being assessed, smaller businesses have the chance to make the required changes to remain competitive. Siemens is creating this financing program to guarantee that these businesses have the resources they need to meet the nation’s and economy’s climate goals, Casciano says.