{"id":577208,"date":"2022-11-14T04:00:24","date_gmt":"2022-11-14T04:00:24","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/banks-can-play-an-important-role-in-the-transition-journey-of-smes\/"},"modified":"2022-11-14T04:00:24","modified_gmt":"2022-11-14T04:00:24","slug":"banks-can-play-an-important-role-in-the-transition-journey-of-smes","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/banks-can-play-an-important-role-in-the-transition-journey-of-smes\/","title":{"rendered":"Banks can play an important role in the transition journey of SMEs"},"content":{"rendered":"

By Natalie Blyth<\/p>\n

<\/a> If the world is to meet its net zero targets by 2050, businesses must contribute by innovating quickly and at scale. Large firms are already in the spotlight in this regard, and many are making good progress. But the role that SMEs need to play in the net zero transition is critical, and needs to be more closely addressed.<\/p>\n

SMEs are the backbone of most economies. They make up 90% of global supply chains, which themselves account for nearly 80% of total carbon emissions. Of the USD 100 tn investment required to reach a net zero economy by 2050, USD 25-50 tn must be directed to SMEs.<\/a> These figures are stark, and show that SMEs\u2019 ability to address sustainability is critical to the outcome of climate change.<\/p>\n

Yet, compared to large companies and multinationals, SMEs are poorly equipped to make the changes necessary to transition. Unlike larger peers, they often lack the data, resources and know-how to map out detailed ESG plans. And as they navigate an environment shaped by pandemic aftershocks, energy crises, soaring inflation, and volatile geopolitics, SMEs the world over are simply operating in survival mode. They might be forgiven therefore, for focusing on the short term, but if we are to avert the worst impacts of climate change, it is critical that the challenges they face on their transition journey are significantly reduced.<\/p>\n

How can this be achieved given the backdrop? While there is no silver bullet, banks are becoming an increasingly significant enabler, because they can play an important role in three key areas \u2014 facilitation, financing, and absorbing risk.<\/p>\n

On facilitation, banks can help SMEs take the first step \u2014 developing transparency around their emissions, by providing inexpensive (and sometimes no-cost) tools like carbon calculators and ESG scorers to help identify individual footprints, highlight emissions hotspots, and suggest high-impact reduction measures. They can also provide a range of guidance, thought leadership, and vetted solutions to help customers on their transition journeys.<\/p>\n

Bank financing, arguably the most well-known solution, allows for the provision of a range of options, from mechanisms to tie the cost of lending to ESG performance, through to ring-fenced finance such as SME funds for funding green companies<\/a>, or where proceeds are earmarked for green purposes. At HSBC we worked with a waste management company to provide financing to restructure its capex. The business was able to invest in modern machinery to recycle materials to sell back to the industry (capitalizing on a revenue stream), establish lower landfill costs, reduce emissions, and thus create a circular economy.<\/p>\n

With regards to mitigating risk, banks have acted as intermediaries between trade buyers and sellers for centuries, absorbing the risk and \/ or acting as guarantor, allowing companies to trade with confidence. In the case of supply chain finance, suppliers gain the reassurance of receiving early payment, and when counterparties are new to trading with each other, the intermediation of banks can provide more certainty that the quality or specifications of goods sold are as they should be. This need will grow as businesses look to trade or source more sustainably.<\/p>\n

Expecting SMEs to transition in isolation is unfair and unrealistic, and misses how hugely complex and multifaceted solving the climate problem is. It will take collaboration \u2014 not just with banks, but with peers to share knowledge and approach across sectors; buyers to understand their requirements, and the public sector to understand policy and enable access to skills development programs, to name but a few.<\/p>\n

The road ahead may look daunting, but tackling this challenge is not beyond SMEs\u2019 reach. Seized now, the transition to net zero can be a huge growth opportunity for small businesses and help increase the pace of change required for the world to achieve net zero targets.<\/p>\n

Natalie Blyth (<\/em>LinkedIn<\/a><\/em>) is global head of commercial banking sustainability at HSBC. HSBC\u2019s column on Enterprise appears every second Monday.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

By Natalie Blyth If the world is to meet its net zero targets by 2050, businesses must contribute by innovating quickly and at scale. Large firms are already in the spotlight in this regard, and many are making good progress. But the role that SMEs need to play in the net zero transition is critical, […]<\/p>\n","protected":false},"author":1,"featured_media":577209,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7351],"tags":[2284,72,490,6377,287],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-577208","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-a-message-from-hsbc","tag-a-message-from-hsbc","tag-enterpriseam","tag-hsbc","tag-natalie-blyth","tag-smes","wpautop","entry"],"acf":{"mongo_id":"82b6f509-77c8-4c49-a235-04b277fab00f","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2022\/11\/217.jpg","photo_position":"above","related_issue":[577198],"teaser":"","voice_url":""},"yoast_head":"\nBanks can play an important role in the transition journey of SMEs - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/11\/14\/banks-can-play-an-important-role-in-the-transition-journey-of-smes\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Banks can play an important role in the transition journey of SMEs\" \/>\n<meta property=\"og:description\" content=\"By Natalie Blyth If the world is to meet its net zero targets by 2050, businesses must contribute by innovating quickly and at scale. 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The example the Middle East sets will be a guiding light for others,\u2026","rel":"","context":"In "A MESSAGE FROM HSBC"","block_context":{"text":"A MESSAGE FROM HSBC","link":"https:\/\/enterpriseam.com\/egypt\/category\/a-message-from-hsbc\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":548003,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/07\/21\/euromoney-awards-for-hsbc-efg-hermes-and-cib\/","url_meta":{"origin":577208,"position":3},"title":"Euromoney awards for HSBC, EFG Hermes and CIB","author":"enterpriseam admin","date":"21 July 2022","format":false,"excerpt":"EFG Hermes, HSBC and CIB walked away with awards from the 2022 Euromoney Awards for Excellence last week. 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Wilcox said the decision would have a \u201cminimal effect\u201d on HSBC\u2019s bottom line in the short\u2026","rel":"","context":"In "Banking"","block_context":{"text":"Banking","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/banking\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/10\/142.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577025,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/07\/cop27-starts-in-sharm-el-sheikh-with-a-mission-to-move-beyond-pledges\/","url_meta":{"origin":577208,"position":5},"title":"COP27 starts in Sharm El Sheikh with a mission to move beyond pledges","author":"enterpriseam admin","date":"7 November 2022","format":false,"excerpt":"By Todd Wilcox As mns of words will likely be written over the next two weeks to variously scrutinize and analyze, cheer and chide the discussions that take place at the UN COP27 climate conference, I want to be as clear as possible with mine ⁠\u2014 businesses and investors are\u2026","rel":"","context":"In "A MESSAGE FROM HSBC"","block_context":{"text":"A MESSAGE FROM HSBC","link":"https:\/\/enterpriseam.com\/egypt\/category\/a-message-from-hsbc\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/108.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/577208","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=577208"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/577208\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/577198"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/577209"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=577208"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=577208"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=577208"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=577208"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=577208"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}