TMG and some of its members attended the Second Annual Conference of the OECD Platform on Financing SMEs for Sustainability in Paris

TMG’s Secretariat was in Paris for the Second Annual Conference of the OECD Platform on Financing SMEs for Sustainability. Representatives from BBB (United Kingdom), BDC (Canada), Bpifrance (France), Finnvera (Finland) and Wallonie Entreprendre (Belgium), which are all members of TMG, joined the conference.

Some key highlights of the event:

  • We all recognize that we need to keep an open dialogue and sharing of best practices around ESG reporting and data requirements to SMEs.
  • We also agree there is a need for a global ESG sustainability framework or set of standards that SMEs should report on.
  • It is equally important to meet SMEs where they are, so reporting requirements do not become a burden for small businesses.
  • Non-financial support in terms of awareness and capacity-building programs around are as important as financial instruments if we want SMEs to advance on their sustainability journey.
  • Development banks supporting SMEs have begun piloting solutions for SME sustainability. Even if there is a lack of data and regulations, we are taking the right approach by trying new initiatives and learning from their successes and failures.