Siemens Announces $100 Million Capital Program for SMEs, Aims at Sustainability

Published on: 15 March 2022
by KnowESG
(Credit: Rufus46)

A Brief Summary

Siemens Smart Infrastructure and Siemens Financial Services have announced a $100 million funding initiative focused on helping small and medium-sized businesses achieve their decarbonization targets. This infusion of funds will aid small and medium-sized firms in the United States in their attempts to reduce carbon emissions.

Read Full Article Below

Stakeholder and legislative demands have been put on the entire supply chain as more focus is now on decarbonization and sustainability worldwide. Small and medium-sized enterprises account for over 99 per cent of the US economy and have a disproportionate influence on the country's capacity to reach national and international climate targets.

Scope 3 emissions, which account for the majority of a large organisation's overall greenhouse gas emissions, are increasingly being scrutinised throughout the supplier selection process.

Anthony Casciano, CEO of Siemens Financial Services, Inc, said: "Small and medium-sized enterprises are the backbone of our economy, yet they may not have access to the same capital as our country’s largest corporations when it comes to making sustainability improvements. With each part of the supply chain being evaluated, there is an opportunity for smaller companies to make necessary changes to remain competitive. We are launching this loan program to ensure essential resources for these companies are available to keep pace with our nation and economy’s climate goals.”

Companies interested in participating in the initiative should submit an inquiry outlining their dedication and obstacles in adopting sustainable operations. Entities selected for the initiative will work with a team of Siemens financial and technological specialists to develop a unique end-to-end decarbonization roadmap. Siemens' Smart Infrastructure sustainable-oriented products, solutions, and services, such as energy efficiency technology, alternative renewable energy sources, and electric vehicle charging infrastructure, will be integrated into the scalable roadmap.

Ruth Gratzke, President of Siemens Smart Infrastructure USA, said: "A well-designed sustainability plan is now a business imperative for any company, and here at Siemens we take these commitments seriously – both internally within our operations, and for our customers. In this program we are providing a complete sustainability strategy that encapsulates every step — from consulting services and financing solutions through to the cutting-edge technologies that make our customers efficient, resilient and sustainable. This capital is the fuel that will jumpstart the process.”