Siemens Launches $100 Million Program to Fund SME Decarbonization
Technology-focused industry, infrastructure, transportation, and healthcare solutions company announced today a new $100 million capital program, aimed at advancing and supporting decarbonization goals and efforts for small to medium enterprises (SMEs).
According to Siemens, SMEs, which make up most of the U.S. economy and have an outsized impact on the country’s ability to meet global climate goals as the source of many organizations’ scope 3 emissions, are coming under increasing pressure to participate in decarbonization efforts. Launched by Siemens’ businesses Siemens Smart Infrastructure and Siemens Financial Services, the new program aims to address the challenges that SMEs may have in advancing their own decarbonization programs, providing access to capital, as well as consulting services and key technologies.
Anthony Casciano, CEO of Siemens Financial Services, said:
“Small and medium sized enterprises are the backbone of our economy, yet they may not have access to the same capital as our country’s largest corporations when it comes to making sustainability improvements. With each part of the supply chain being evaluated, there is an opportunity for smaller companies to make necessary changes to remain competitive. We are launching this loan program to ensure essential resources for these companies are available to keep pace with our nation and economy’s climate goals.”
Companies chosen for the program will be able to consult with a team of Siemens financial and technological experts to create a custom end-to-end decarbonization roadmap, integrating sustainable-oriented products, solutions, and services from Siemens Smart Infrastructure, including energy efficiency technologies, alternative renewable energy sources and vehicle charging infrastructure. Siemens Financial Services will provide a wide variety of financing options for the carbon reduction strategies, with common project sizes in the $1 – $10 million range.
Ruth Gratzke, President of Siemens Smart Infrastructure USA, said:
“A well-designed sustainability plan is now a business imperative for any company, and here at Siemens we take these commitments seriously – both internally within our own operations, and for our customers. In this program we are providing a complete sustainability strategy that encapsulates every step — from consulting services and financing solutions through to the cutting-edge technologies that make our customers efficient, resilient and sustainable. This capital is the fuel that will jumpstart the process.”