Sage Launches Carbon Tracking API to Support Banks Green Lending
Summary
Sage, a provider of accounting and financial software for small and medium-sized enterprises (SMEs), has introduced a Carbon Measurement API to assist banks in supporting their SME customers transition to net-zero emissions. The new tool is designed to help financial institutions enhance their green lending practices by offering an integrated carbon accounting solution for SMEs. The Partnership for Carbon Accounting Financials (PCAF) framework, established in 2019, has highlighted the difficulties banks encounter in tracking emissions linked to their SME portfolios due to a lack of direct data. George Sandilands, VP Carbon Accounting at Sage, says: “By fostering a more sustainable business environment and offering tailored green finance products to their customers, banks can now better serve their SME customers by offering the tools needed for accurate carbon reporting.” SMEs, for their part, often struggle to report their emissions due to limited resources and expertise. Darren Pirie, Climate Propositions Lead at NatWest, states: “We need to provide carbon accounting and decarbonisation services to our 19 million business customers in the UK.