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Data platform support to SMEs for ESG reporting and EU Taxonomy implementation

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Preliminary assessment
Sustainable finance is a key factor in the economy’s transition towards climate-neutrality by 2050. Although they account for 99% of EU enterprises, non-listed small and medium enterprises (SMEs) are for the moment exempted from disclosing sustainability information within the new EU Taxonomy Regulation. Digital platforms can help SMEs in reporting but the current landscape for solutions targeting SMEs is fragmented. Underlying problems are a lack of standardization, non-harmonized metrics and limited incentives for SMEs to allocate time and resources for voluntary disclosures. A scanning of existing solutions and interviews with platform providers highlighted the need to communicate the added value of disclosures for SMEs, to gain visibility and to benchmark themselves against competitors but also against future targets. Barriers for SMEs to voluntary disclose sustainability information should be reduced by shifting (high) costs away from them and towards data platforms or investors interested in the data. In addition, more focus needs to be put on harmonization and choice of metrics, auditing and quality control of data, as well as counter-acting green-washing.
2022-07-27
Publications Office of the European Union
JRC128998
978-92-76-55056-3 (online),   
1831-9424 (online),   
EUR 31156 EN,    OP KJ-NA-31156-EN-N (online),   
https://publications.jrc.ec.europa.eu/repository/handle/JRC128998,   
10.2760/69381 (online),   
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