Bank of Ireland Launches Innovative Sustainable Business Coach to Empower SMEs in ESG Planning
Bank of Ireland, a prominent financial services group in Ireland, has recently introduced its innovative Sustainable Business Coach platform, aimed at assisting small and medium-sized enterprises (SMEs) in enhancing their sustainability initiatives. This launch comes in light of increasing concerns among SMEs regarding the complexities associated with implementing environmental, social, and governance (ESG) strategies.
Understanding the Need for Sustainability in SMEs
Research conducted by Bank of Ireland reveals that more than 70% of SMEs are uncertain about how to effectively integrate sustainability into their business operations. The new platform is designed to bridge this gap by providing tailored support that addresses the unique needs of these businesses.
Bank of Ireland’s Commitment to Sustainability
With a diverse portfolio of financial services, including lending, deposits, and treasury solutions, Bank of Ireland is dedicated to fostering sustainability and innovation. The bank’s strategic focus is on empowering businesses to transition toward greener practices.
Features of the Sustainable Business Coach Platform
The Sustainable Business Coach is a free, user-friendly digital platform that employs a structured ESG questionnaire format. SMEs can complete a series of multiple-choice questions at their convenience to receive a personalized overview of their sustainability status. Key areas evaluated include:
- Greenhouse gas emissions
- Energy use
- Procurement practices
- Employee engagement
- Water and waste management
Tailored Roadmap for ESG Goals
Specifically designed for the Irish market, this platform provides SMEs with a practical roadmap to advance towards their ESG goals, aligning with the UN’s Sustainable Development Goals. It offers a straightforward and actionable approach for businesses to navigate their ESG responsibilities without requiring extensive technical knowledge or substantial financial resources.
Bank of Ireland’s Sustainability Initiatives
The introduction of this platform underscores Bank of Ireland’s commitment to sustainability, as the bank aims to surpass its €15 billion sustainability-related lending target ahead of the original deadline set for 2025. This initiative further highlights the bank’s alignment with ESG-focused initiatives.
Expert Insights from Bank of Ireland Leadership
John Feeney, CEO of Corporate and Commercial Banking at Bank of Ireland, stated, “We are thrilled to launch this free digital sustainability tool tailored for Irish SMEs. Many of our business customers encounter challenges related to time and resources. Our objective is to provide an easy-to-use online tool that facilitates practical and prompt sustainability decision-making.”
For more information about the Sustainable Business Coach platform, visit the official Bank of Ireland website.
