document.write(''); CBA launches sustainability action tool for SMEs - Simo Baha

CBA launches sustainability action tool for SMEs

The Commonwealth Bank of Australia (CBA) is launching a new tool during CommBank SmallBiz Week 2023 aimed at supporting small and medium-sized enterprises (SMEs) in integrating sustainability into their operations.

In addition to the recent introduction of Green Vehicle and Equipment Financing, the Commonwealth Bank of Australia (CBA) is now introducing a new tool to support businesses with their sustainability initiatives and productivity improvements.

The launch of the tool is strategically timed ahead of CommBank SmallBiz Week, which is scheduled to take place from 23 to 25 May in Melbourne. During this event, business owners, government agencies and industry leaders will gather to address the industry’s most pressing concerns, including the theme. stability.

The CBA Sustainability Action Tool offers valuable insights into how businesses can reduce their environmental impact and cut costs. It is specifically designed to help small business customers identify sustainable options for their processes and operations. By answering a few simple questions, users will receive resources and recommended actions.

Initially, the tool will focus on energy, transport and waste management. However, in the coming months it will be expanded to include additional sustainability topics such as supply chain management, product design and well-being.

The first phase of the CommBank Sustainability Action Tool will be available to all NetBank users from May onwards. Ongoing updates and new content will be added starting in July.

New CBI research shows that the cost of becoming sustainable (61 percent), finding sustainable suppliers (30 percent), and lack of time and resources (28 percent) are the top pain points for SMEs looking to build sustainability into their business. model.

This announcement coincides with the Australian Government’s extension of the Instant Asset Write-Off Scheme as part of Budget 2023. Under this extension, small businesses with an annual turnover of less than $10 million can immediately deduct the full value of eligible assets valued at less than $20,000.

Kerin Savard, executive director of the Central Bank, said: “It’s clear that small business owners have a strong interest in sustainability and are already implementing sustainable practices in their businesses.

“This is reinforced by our own data, which shows that small businesses continue to prioritize sustainability, with funding for electric vehicles for small businesses doubling year on year.

“However, small business owners are time poor and looking for more tangible and practical sustainability solutions that can be easily incorporated into their business, with minimal effort and time.

“They also want information and knowledge that can guide them in the right direction to match them with the right businesses.”

“This can include conducting an energy audit with your energy supplier, switching to new and improved technologies such as cloud computing services, and learning about ways to reduce or eliminate difficult-to-recycle waste,” Ms Savard said.

Follow our stories on LinkedIn Twitter:Facebook and Instagram.

Source link