By The Financial District
Mar 10, 20222 min
Siemens Smart Infrastructure and Siemens Financial Services have launched a $100 million capital program aimed at advancing the decarbonization goals of small to medium-sized enterprises. This infusion of capital will help small and medium businesses in the U.S. jumpstart their decarbonization efforts, Business Wire reported.
Photo Insert: The Siemens Princeton Campus Microgrid located in Princeton, NJ is one of the first to combine renewable energy solutions with both building management and energy management technologies to achieve a carbon-neutral campus.
As greater emphasis is placed on decarbonization and sustainability worldwide, stakeholder and legislative pressures have been put on the entire supply chain. Small and medium-sized businesses make up more than 99 percent of the U.S. economy and have an outsized impact on the country’s ability to meet national and global climate goals.
Emissions of suppliers, known as Scope 3 emissions, represent the majority of a large organization’s total greenhouse gas emissions and are increasingly being analyzed 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, Inc.
“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. Entities chosen to participate in the program 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.”