SME-climate methodology and data programme tilt reaches +280,000 company milestone; launches strategic partnership with Deloitte; completes first round of road-testing with European banks.

The tilt (transforming in the low-carbon transition) SME-climate data programme, launched by Theia Finance Labs (formerly known as 2° Investing Initiative Germany) in 2022, has now collected climate-relevant data on just over 280,000 European companies across five European markets. The SME-oriented database volume has thus exceeded its original goal of 200,000 companies and is unique in its reach, coverage, and depth. The data is now being road-tested by a number of major European banks as well as part of a joint research project with a large European central bank.

tilt is now taking the next steps in its development. The tilt programme marks a key milestone as it launches its own website and brand (www.tiltSMEs.org). In addition, tilt has also signed a strategic partnership with Deloitte designed to leverage Deloitte’s knowledge and expertise on developing model methodology, creating high volumes in data and building a robust IT infrastructures to accelerate the development of the tilt programme. The partnership will allow tilt to double its resources in terms of expand the use, quality and coverage of the dataset and reach its 2024 goal of 1 million covered businesses. The tilt programme is looking to collaborate with interested banks and other financial institutions seeking to expand SME climate data availability to a larger set of jurisdictions. 

Beyond the work on tilt, Theia and Deloitte will also collaborate on the development of a new financial services-oriented climate and sustainable data platform. We intend for the platform to provide a collaborative space between financial institutions, their clients and market participants to build and share data, reduce the transaction costs of sustainable data procurement and processing, and build capacity. 

Theia Finance Lab (Anne Schönauer, project lead): “I am very excited about our partnership with Deloitte. Climate data for SMEs are becoming crucial if we want to achieve an equitable, nature-positive and net-zero future. We are delighted that Deloitte supports our open-source process of building the needed SME climate database and indicators to support banks in engaging with their clients and supporting climate actions of SMEs. With Deloitte’s expertise in Sustainability, Compliance and in setting up high volume and secure IT infrastructures, I am confident that tilt can be widely disseminated and used.“

Deloitte (Peter Schaap, partner): “The absence of relevant sustainability information for SMEs provides a challenge for financial institutions not only to comply with relevant regulations, but especially for meaningful integrated climate change risk and opportunity considerations into their business models. tilt can help address these challenges by offering an open, standardised approach, with harmonised metrics and data standards. tilt’s open approach will empower financial institutions and SMEs to build a broader ecosystem that facilitates the transition to a low carbon economy. Climate change is not a choice. With our contribution to tilt we take action today.” 

For any queries or further information please contact Anne Schönauer (project lead of tilt):

Funding:
The project forms part of the LIFE CB-PASTAX project. The project has received funding from the LIFE Programme of the European Union. The contents of this publication are the sole responsibility of Theia Finance Labs and do not necessarily reflect the opinion of the European Union or our research partners and members.

Berlin, 13.09.2023