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Technology & Data

HSBC Launches SME Sustainability Tool

HSBC UK has unveiled the HSBC Sustainability Tracker that will help small and medium-sized businesses assess their current sustainability status. Businesses are also offered actionable guidance on steps they can take to improve their sustainability credentials and their climate impact through the free tool. According to HSBC UK research, 15% of UK-based small business owners say they currently have no way of knowing how sustainable their business is while another 14% say they can’t afford to invest in methods to track their business’s sustainability credentials. Further, a reported 36% of SMEs need support with measuring emissions and tracking changes, especially in the supply chain, moreover, 40% of SMEs do not yet publish completed ESG reports. Robert King, UK Head of Commercial Banking Sustainability, Structured Finance, HSBC UK said: “Growing numbers of SMEs are recognising the business opportunity which arises from being more sustainable, and are seeking to demonstrate their ESG credentials to customers, investors, staff, and other stakeholders, but often find it challenging to find the right tools and resources to help them achieve this. 


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