Siemens Smart Infrastructure and Siemens Financial Services have launched a $100 million capital program aimed helping US SMEs jumpstart their decarbonization efforts. Siemens said CO² emissions along the supply chain – known as “Scope 3” emissions – are increasingly coming under the microscope process, and the lender wants to alleviate the financial hurdles associated with the transition to green operations for smaller suppliers.
Siemens points out that SMEs make up more than 99% of the US economy, and so have a significant impact on efforts meet national and global climate goals. Scope 3 emissions represent the majority of a large organization’s total greenhouse gas emissions and are increasingly being analysed in the supplier selection process.
“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,” said Anthony Casciano, CEO of Siemens Financial Services. “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 the program are encouraged to send an inquiry expressing their commitment and challenges in implementing sustainable operations. Those chosen to participate will consult with a team of Siemens financial and technological experts to create a custom end-to-end decarbonization roadmap. The scalable roadmap will integrate Siemens’ Smart Infrastructure sustainable-oriented products, solutions, and services such as energy efficiency technologies, alternative renewable energy sources and electric vehicle charging infrastructure.
“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 own operations, and for our customers,” said Ruth Gratzke, president of Siemens Smart Infrastructure USA. “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.” The capital is available for a wide variety of carbon reduction focused projects. Details are here.
