Media statement
The Centre for Sustainable Finance: Toitū Tahua (CSF) is pleased to announce the launch of the ‘Starter for Ten: 10 topics for SMEs to start sustainability reporting’ guide. Prepared in collaboration with KPMG New Zealand, and with input from New Zealand’s major banks and financial institutions, the guide aims to support New Zealand’s small and medium sized businesses (SMEs) with simplified sustainability reporting.
With more than 80% of New Zealand’s exports by value now going to countries with mandatory climate-related disclosures either in force or proposed, the pressure to keep up with international expectations on sustainability is growing for New Zealand’s exporters of all sizes – including SMEs.
In addition to the growing direct impact this will have on New Zealand exporters, many more of our businesses will be affected indirectly via supply chain expectations and changing customer preferences.
This has wide-ranging implications for New Zealand’s SMEs who are facing increased expectations from customers, regulators, investors and lenders on sustainability reporting and performance, while also confronting the many pressures of running a business.
SMEs often lack the resources and guidance to collate the necessary sustainability-related information in a consistent way.
This ‘Starter for Ten’ guide aims to provide a clear and concise tool for SMEs to begin measuring and reporting on sustainability-related matters. It is also a resource for banks to support small business customers with sustainability reporting and a starting point for conversations about sustainable finance.
The guide is structured to support SMEs to begin reporting on the metrics banks, investors, customers and other stakeholders are increasingly asking for to assess risk, resilience and business values.
It is also designed to help financial institutions overcome sustainability data-related barriers to meeting their own sustainability targets and reporting requirements.
Jo Kelly, Chief Executive of the Centre for Sustainable Finance: Toitū Tahua (CSF), said:
“Our ‘Starter for Ten’ guide is a straightforward approach to sustainability metrics specifically designed for New Zealand’s SMEs. It’s aligned with both local standards and international best practice. Businesses that understand their performance on these metrics will better understand risks to their business and opportunities to respond to customer and lender expectations.”
KPMG New Zealand Director, Nick Swallow, added that while more SMEs are realising the importance of sustainable business practices, they often feel too small to make a difference and don’t know where to start.
“It’s encouraging to see New Zealand’s financial institutions support this segment of the market, recognising their significant role in creating a more sustainable business environment in Aotearoa. With the right tools and support, collectively, small and medium-sized businesses can make a big impact.”
Click here to access the ‘Starter for Ten: 10 topics for SMEs to start sustainability reporting’ guide.
We will be holding a ‘learn more’ webinar aimed at small businesses on 20 November. Click here to register.
About the Centre for Sustainable Finance
The Centre for Sustainable Finance: Toitū Tahua (CSF) is an independently governed charitable trust founded in 2021 to accelerate progress toward an equitable, inclusive and sustainable financial system. Backed by Government and major financial institutions, CSF is an ‘honest broker’ that removes barriers and accelerates innovation to finance the green transition.
For media enquiries please contact:
Jonathan Williams: [email protected], 021 0241 6376
