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WARSAW, Jan. 31, 2023 /PRNewswire/ -- While C-level executives discuss taking climate action to improve company reputation and save money, small business owners worry they don't have adequate resources to comply with carbon footprint reporting standards.

Entrepreneurs need the right tools

According to the UN SME Climate Hub, 68% of small business owners worry that they don't have adequate resources to take climate action. Lack of knowledge, money and time are the main causes of SMEs being left behind in the race for sustainability.

"We've made standards-compliant carbon footprint calculation and reporting accessible to all business owners, regardless of their budgets. Reducing carbon emissions with Plan Be Eco is time and cost efficient. All companies can now get achievable reduction plans," said Aga Maciejowska, CEO of Plan Be Eco.

According to Eurostat, there were 30.1 million active companies in the EU in 2021, and almost 90% were SMEs. Most of them are involved in larger company supply chains as contractors and subcontractors and will sooner or later be required to report their carbon footprint.

High carbon emissions are a business risk

When financial institutions decide the size of interest rates, several risk factors are considered.

"Environmental risk used to be considered only from the perspective of the environment itself. But high-carbon businesses are risky, and tech startups looking for investment cannot ignore this risk," Aga Maciejowska said.

This view is reflected in recent studies. According to PwC, more than 80% of investors consider ESG factors when making investments.

The reduction of the carbon footprint measures the quality of management

Researchers from Maastricht University and Hermes Investment Management published a paper concluding that companies that reduce carbon emissions by 1% per year save $1.3 million in interest costs. Although financial institutions do not include the carbon footprint as an official indicator for calculating interest rates, well-managed companies obtain better results, both financial and non-financial.

Carbon footprint reporting is mandatory throughout the supply chain

The European Union published a directive that obliges large companies to report their carbon footprint by 2024. With the new CSRD directive, the number of companies reporting has increased almost tenfold. Each company must calculate scopes 1, 2 and 3 throughout the supply chain, which means smaller contractors must comply.

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