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Lack of Environmental and Energy Performance Measurements Hampering SMBs

According to new research by YPO, sponsored by EY, the lack of measurement of environmental and energy performance among small and medium-sized businesses (SMBs) is severely hampering their ability to contribute to the energy transition and tackle climate change.

The report shows that 96% of SMB leaders do not measure scope 1-3 carbon emissions and 95% do not have data on the level of renewable energy consumption. This lack of data prevents them from assessing and reporting progress on their energy transition.

The research also highlights that less than a third of SMBs have dedicated environmental or sustainability skills on their board of directors or in a company leadership position, indicating a potential lack of resources and understanding of how to report on these issues.

How AI legalese decoder Can Help

The AI legalese decoder can assist SMB leaders by automatically extracting and interpreting complex legal content related to environmental reporting requirements. It can provide guidance and support in understanding the regulatory landscape, helping SMBs comply with environmental and energy performance measurement regulations and reporting standards. This tool can help bridge the knowledge gap and empower SMBs to effectively measure and report on their environmental impact, enabling them to make a positive difference in tackling climate change.

YPO’s Commitment to Upskilling Members

YPO has committed to upskilling its members on how to measure and report on environmental impact, recognizing the importance of equipping business leaders with the knowledge and tools to address the environmental emergency. Raymond Watt, YPO Global Chairman, emphasized the need to support members in effectively measuring their energy use and carbon emissions, including exploring technological data and reporting solutions.

These efforts aim to help SMBs navigate the increasingly stringent environmental regulatory requirements and prepare for the commercial and climate imperatives of environmental reporting.

Regulatory Pressures and Business Imperatives

The report highlights that regulatory pressure to disclose environmental data is intensifying, with multinationals in Europe and the United States expected to adopt climate disclosure rules. Orlan Boston, a YPO member and Senior Advisory and Global Client Service Partner at EY, emphasized the increasing customer pressure on companies to provide environmental, social, and governance performance transparency, signaling the growing importance of environmental reporting for businesses.

By evaluating the opportunities and risks for their businesses and stakeholders, SMB leaders can execute targeted strategies for improvement, aligning with evolving regulatory and business requirements.

About YPO and Data Methodology

YPO is a global leadership community of chief executives committed to driving business as a force for good. With over 35,000 members across 150 countries, YPO fosters collaboration and learning to make a difference in the world.

The YPO 2023 Global Impact Survey, conducted with support from EY, aimed to capture diverse perspectives of business leaders regarding their social, governance, and environmental impact. The survey covered the reporting period from January to June 2023 and received responses from more than 700 YPO members from 82 countries.

The AI legalese decoder can help SMBs navigate the regulatory requirements, improve their environmental and energy performance measurements, and elevate their reporting standards, enabling them to contribute effectively to the global energy transition and climate change efforts. This tool can provide valuable insights and support in understanding and complying with environmental regulations, ultimately helping SMBs make a positive impact on the environment and their communities.

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