Katelijne Norga: “This is a European obligation: the Corporate Sustainability Reporting Directive (CSRD). Every large European company will be obliged to publish an annual sustainability report from fiscal year 2025, with information about its actions in the field of ESG: environmental, social and good governance policy. For this purpose, those large companies will also request information from all their suppliers, for example, about their CO2 emissions or what they are doing to fight corruption. In this way, SMEs will also be required to report on their sustainability approach.”
"}},{"componentType":"sectionTitle","title":"2. As an SME, why should I focus on ESG?"},{"alignedImage":{"position":"bottom","extension":"webp","original":"https://assets.ing.com/m/4ff2c2257db86ab5/original/Marc-Callier_ING.webp","transformBaseUrl":"https://assets.ing.com/transform/84c66c4d-4ed5-4c9a-b433-f38fae117c29/Marc-Callier_ING"},"componentType":"paragraph","richBody":{"value":"Marc Callier: “Paying more attention to ESG and sustainability offers a lot of economic opportunities. Those who respond to market trends and changing consumer behavior can differentiate themselves. That can result in a higher market share and possibly even in new products or services. In this way, you protect the value of your company and also create value. Companies with a good plan, who make credible efforts on sustainability, can also count on attractive financing terms from their banks.”
"}},{"componentType":"sectionTitle","title":"3. The reporting requirement means additional administrative work. How do you solve that as an SME?"},{"componentType":"paragraph","richBody":{"value":"Katelijne Norga: “There is a European guideline available with which you can collect the necessary information in a standardized way. The Belgian government will work with this so-called VSME standard. But as an SME, it can also be interesting to anticipate and prepare a report yourself. That way you don't have to fill out questionnaires every time your customers ask for them. That saves time.”
"}},{"componentType":"sectionTitle","title":"4. What tips do you have for SMEs who want to take action?"},{"componentType":"paragraph","richBody":{"value":"Katelijne Norga: “Create a report that not only meets the administrative requirements, but also turns it into a strong narrative. Use the report to inform and engage stakeholders such as customers, shareholders or investors. With a strong story and report, you also engage your employees and they see the results of all efforts.”
"}},{"componentType":"sectionTitle","title":"5. What support can I expect from my bank?"},{"componentType":"paragraph","richBody":{"value":"Marc Calllier: “Making your company more sustainable and adapting to the changed legislative framework requires significant investments. ING has a distinct role as a financier of such investments. We also offer financial incentives or support for this, for example through our cooperation with the EIB and specific products.”
“In addition, we attach great importance to informing and supporting our customers: we ensure that our bankers are educated discussion partners on ESG and work with expert partners such as Pantarein who can provide further guidance to our customers.”
Find out how ING supports businesses in the sustainable transition.
These article was previously published in Trends/Tendances.
"},"title":"Clever Together"}]},"hasMacro":false,"id":"acbf6fa9-dd81-4db1-8773-56c10f240983","legalZone":{"flexComponents":[{"componentType":"paragraph","richBody":{"value":"Society is transitioning to a low-carbon economy. So are our clients, and so is ING. We finance a lot of sustainable activities, but we still finance more that’s not. See how we’re progressing on ing.com/climate.
"}},{"componentType":"paragraph","richBody":{"value":"This article is for informative purposes only and the information set out herein may change with time. We therefore recommend that you always reference specific regulations and requirements with the competent authorities for the latest information. Additionally, we advise that you seek professional advice on a case-by-case basis before making any decisions. Please note that ING Belgium SA/NV cannot be held liable for any decision taken on the basis of the information provided.
"}}]},"localeString":"en-GB","mainHeaderZone":{"backLink":{"textLink":{"text":"Sustainability is everyone's business","url":"/en/business/sustainable-business"}},"componentType":"editorialHeader","coreHeader":{"body":"The new ESG reporting requirement will become an obligation for large companies starting this fiscal year. But because they have to map out their entire value chain, many SMEs will also face this new obligation. What does that mean in concrete terms? And how do you get something out of it yourself as an SME? Katelijne Norga of consultancy firm Pantarein and Marc Callier of ING answer 5 essential questions.","subtitle":"5 questions and answers","title":"How do SMEs benefit from ESG reporting?"},"date":"2025-02-20","readingTime":3},"publishDate":"2025-02-28T15:28:20.204+01:00"}}