SG Finans: Most Innovative Climate Impact SME Finance Scandinavia 2019

As a key financer of Nordic small and medium-sized enterprises (SMEs), SG Finans also supports regional business growth and climate change action. The company specialises in leasing and factoring services and is serious about sustainability. In September 2019, it attained Eco-Lighthouse certification, the most widely used Norwegian standard to document and demonstrate corporate sustainability efforts. SG Finans submitted to a sustainability audit for the certification and must repeat the process regularly to maintain it. The process also includes sustainability training to ensure that best practices are anchored throughout the staff, from executives to entry-level employees. The certification is EU-approved and aligns with international environmental standards like EMAS and ISO 14001. In June 2019, the company announced a credit line agreement of over $165m from the European Investment Bank (EIB). SG Finans sees SMEs as stimulators for the transition from fossil fuels to climate-neutral economies; 70 percent of the funds were earmarked for SMEs and 10 percent will go to proactive climate projects. The fresh EIB funding follows a successfully implemented credit line of $100m in 2018 that enabled qualified SMEs to take steps to reduce their carbon footprint. SG Finans aims to cultivate a healthy and balanced portfolio, and as it goes forward, climate risk will be weighed more heavily in each business decision. The CFI.co judging panel commends the company’s sustainability commitments and declares SG Finans as the 2019 winner of the Most Innovative Climate Impact SME Finance (Scandinavia) award.