Video transcript: Net zero SMEs

Transcript

Lynne Baber, Sustainability Practice Leader, PwC UK

I've had a great visit to Dubai this year for COP28. And what I've really noticed is the focus on turning talk into action. And in particular, actually, how larger organisations are working with the small, medium-sized businesses, enterprises, to help them to take their next steps on their net zero journey.

Elisa Moscolin, Executive Vice President, Sustainability, Sage

Look, small medium businesses are the backbone of our economies. So we cannot achieve net zero without them. And that is why it's so important that we're here today in Dubai with our partners PwC and the International Chamber of Commerce, to bring the voice of small medium businesses around the table. I know that their individual contribution to emissions may seem small, but when you aggregate it, it is really important that we take them along the journey with us. If we want to have a chance to achieve a 1.5 degree world.

Marco Amitrano, Managing Partner and Head of Clients and Markets, PwC UK

ESG and sustainability today must be seen as a key driver for growth. And that's going to involve the engagement of the whole of the C-suite, and outside stakeholders, in engaging with a strategy that has it at its heart.

Elisa Moscolin

We talked to over 16,000 small medium businesses worldwide and 83% of them told us that sustainability is important to them. And they're already experiencing pressure from shareholders, to government, to customers.

But only 7% of them are currently reporting. Small medium businesses told us that they face barriers, from the complexity of the standards to access to capital. So we have a duty to make sure that they can engage. We need simplified reporting frameworks and digital tools that can support them in engaging and reporting on sustainability.

Lynne Baber

Large organisations are starting to think about what they ask for from small and medium-sized businesses, so that the SMBs don't feel overwhelmed by the reporting burden and can really focus on that action towards net zero. Because without them, we've got no chance of meeting the net zero commitments that we've all made.