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Summary
Today, Siemens Smart Infrastructure and Siemens Financial Services launched a $100 million capital program aimed at advancing the decarbonization goals of small to medium sized enterprises. This infusion of capital will help small and medium businesses in the U.S. jumpstart their decarbonization efforts.
Decarbonization in Action: The Siemens Princeton Campus Microgrid located in Princeton, NJ is one of the first to combine renewable energy solutions with both building management and energy management technologies to achieve a carbon neutral campus. Siemens can provide a wide variety of financing options to provide an end-to-end carbon reduction strategy for emissions that includes energy efficiency upgrades, energy supply management, lighting, controls, onsite renewables and the electrification of vehicles and fleet. Common project sizes are $1-10M with a payback period of three to seven years.
As greater emphasis is placed on decarbonization and sustainability worldwide, stakeholder and legislative pressures have been put on the entire supply chain. Small and medium sized businesses make up more than 99 percent of the U.S. economy and have an outsized impact on the country’s ability to meet national and global climate goals. Emissions of suppliers, known as Scope 3 emissions, represent the majority of a large organization’s total greenhouse gas emissions and are increasingly being analyzed in the supplier selection process.
"Small and medium sized enterprises are the backbone of our economy, yet they may not have access to the same capital as our country’s largest corporations when it comes to making sustainability improvements," said Anthony Casciano, CEO of Siemens Financial Services, Inc.
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