Software startup helping SMEs with the sustainability challenge
UK SMEs contribute approximately 160 million tonnes of greenhouse gases each year, accounting for almost half of the nation’s non-domestic emissions. Until recently, these businesses have faced challenges in measuring their environmental and social impact.
This scenario is poised for change with the introduction of etOso, a tech startup aimed at revolutionising sustainability reporting for SMEs. Previously, this was a burdensome, costly, and technically complex task for many smaller enterprises.
Jessie Broadway from etOso remarked: “We make it possible for any company, regardless of size, to play their part in solving the UK’s biggest environmental and social problems. By making sustainability reporting simple and affordable, any SME can take this step. It will add huge value to their business and support the effort against climate change and rising inequalities.”
SMEs form the backbone of the UK economy, with over 5.5 million such businesses. Collectively, they are responsible for 44% of the UK's total non-household emissions.
Despite the fact that most of the world's largest businesses measure and report on their sustainability performance, the majority of smaller companies do not. The Global Reporting Initiative (GRI) reports that only 10-15% of companies using its framework are SMEs.
Consequently, many smaller businesses remain unaware of the risks and opportunities related to sustainability that could impact their long-term performance, from energy consumption to employee engagement.
The etOso platform enables organisations from any sector to gain a comprehensive understanding of their impact, both positive and negative. Utilising frameworks like GRI, SASB, TCFD, and reporting regulations such as SECR, Modern Slavery Act and The Companies Act, businesses can identify crucial issues and metrics for reporting.
Sustainability is about balancing economic growth, environmental impact, and social wellbeing without compromising future generations' needs. For SMEs, embracing sustainability is not just ethical but also drives value creation. Benefits include cost savings, reduced risk, positive brand association, and better access to capital, as investors increasingly favour businesses committed to ESG goals.
etOso offers the necessary tools and technology for beginners in sustainability reporting, assisting them in creating their first report. The platform guides users to consider sustainability comprehensively within their business, preparing them for future challenges and opportunities.
