Until recently, every bank and every large customer used its own ESG questionnaire. The VSME standard changes that: one proportionate format that SMEs can use to answer all these requests.
What is the VSME?
VSME stands for Voluntary Sustainability Reporting Standard for non-listed SMEs. It was developed by EFRAG, the body that also prepares the European sustainability reporting standards for large companies, and it is recommended by the European Commission. Reporting is voluntary, but the standard gives SMEs a common language for sustainability data.
Two modules
- The Basic Module covers the essentials: energy use, greenhouse gas emissions, pollution, water, waste, your workforce and business conduct.
- The Comprehensive Module adds more detail, for example on your strategy, transition plans and additional climate and social data, for companies that are asked for more.
Who asks for a VSME report?
Banks use ESG data in their credit decisions, large customers need information about their suppliers for their own reporting, and investors want to understand the risks of the companies they finance. A VSME report answers these questions in one go.
“The VSME sets out the maximum data that can reasonably be requested from SMEs. That makes it our standard too.”
Reporting according to the VSME with ESG Now
ESG Now is built on the VSME Basic Module. You go through the modules step by step, our AI assistant reads your invoices and calculates your emissions, and you export a VSME-compliant PDF report when you are done. Need more guidance? Our tailor-made package includes a personal intake and expert advice.
