Global digital payment and financial services firm Ant International is collaborating with industry partners to develop the MSME Sustainability Impact Scorecard (MSME S-Card).
This pioneering digital solution aims to empower Micro, Small, and Medium Enterprises (MSMEs) in Asia to track their environmental and social impacts in a verified and convenient manner.
The initiative seeks to help MSMEs align with applicable sustainability standards and incorporate these practices into their business operations.
The MSME S-Card is designed to leverage Ant International’s expertise in digital innovation, facilitating the automatic collection of essential data from existing business processes and digital wallets.
This process supports the validation of ESG (environmental, social, and governance) credentials for MSMEs.
By integrating ESG metrics through a streamlined, digital approach, the scorecard provides MSMEs with actionable insights, aiding them in meeting sustainability standards, enhancing their credibility in the eyes of impact-focused investors, and fostering long-term growth in line with global market demands.
In March 2024, Ant International launched Programme Sirius, an industry-led knowledge initiative aimed at assisting MSMEs in their sustainability transitions.
This programme, supported by the International Finance Corporation (IFC), Gprnt, and a network of 13 Asia-Pacific fintech leaders, aligns with the United Nations Sustainable Development Goals. The MSME S-Card represents the first significant development under this programme.
Gprnt, the world’s first regulator-launched digital platform for ESG data reporting, serves as the Technology Partner for Programme Sirius.
The platform will utilize its technological capabilities to simplify the collection and access of ESG data, share best practices, and engage with the community to drive MSME sustainability.
Gprnt’s involvement aims to enhance transparency and assist MSMEs in aligning with regional standards.
MSMEs play a crucial role in Asia’s economy, accounting for 90% of businesses and over half of the region’s workforce.
Despite this, they face considerable challenges in adopting sustainable practices due to limited resources, financial constraints, and a lack of tailored financial products.
Additionally, many MSMEs struggle with a lack of knowledge regarding ESG practices, particularly in developing regions where access to information is limited.
Ant International’s global digital ecosystem partners are instrumental in bridging these gaps. The MSME S-Card fosters sustainability reporting through partnerships, such as with GCash in the Philippines.
GCash plans to customize the scorecard to meet local benchmarks, reinforcing its role in supporting financial inclusion and sustainability. Its initiatives, such as the GForest program, highlight its commitment to environmental and social responsibility, having mobilized millions of users to plant trees and reduce carbon emissions while supporting local farmers.