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VSME – a shortcut to ESG reporting for SMEs
Would your company like to take a more strategic approach to sustainability and ESG — without being subject to the mandatory CSRD requirements? Then the VSME Standard is an excellent place to start.
VSME stands for Voluntary Reporting Standard for SMEs and is a new, voluntary reporting framework designed specifically for small and medium-sized enterprises with fewer than 250 employees.
The standard makes it easier for SMEs to share ESG data with customers, investors, and banks — using the same principles as CSRD, but in a simpler, more accessible format.
Why VSME adds value
Even if your company is not directly covered by CSRD, customers, investors, and partners in your value chain may still expect transparency and sustainability reporting.
VSME helps you to:
- Report ESG data that meets the expectations of CSRD-covered customers and investors
- Meet the transparency and accountability standards expected by financial institutions
- Create a structured overview of your company’s sustainability efforts
- Strengthen both your competitiveness and business resilience — now and in the future
How VSME works
The VSME standard consists of two modules:
Basic Module
Covers the essential ESG information and provides a strong foundation for companies starting their reporting journey.
Extended Module
For companies with greater complexity or higher ambitions — it builds on the basic module and adds further detail.
SMEs must first comply with the Basic Module (1), which forms the foundation. Here, companies report the most essential information about their sustainability practices.
For companies facing greater stakeholder expectations — for example, from banks or investors — it may be relevant to include key indicators from the Extended Module (2).
| Basic Module (1) | Extended Module (2) |
|---|---|
|
General information |
General information |
|
B1 – Basis of preparation |
C1 – Strategy, business model and sustainability initiatives |
|
B2 – Policies and actions for transition to a sustainable economy |
C2 – Policies and initiatives for sustainable transition |
|
E-metrics (Climate & Environment) |
E-metrics (Climate & Environment – Scope 3) |
|
B3 – Energy use and CO₂ emissions |
C3 – Greenhouse gas reduction targets and climate transition |
|
B4 – Pollution of air, water and soil |
C4 – Climate risks |
|
B5 – Biodiversity and ecosystems |
S-metrics (Social Responsibility) |
|
B6 – Water and marine resources |
C5 – Workforce characteristics |
|
B7 – Resource use, circular economy, and waste management |
C6 – Human rights policies and procedures |
|
S-metrics (Social Responsibility – Own Workforce) |
C7 – Serious human rights incidents |
|
B8 – General workforce characteristics |
G-metrics (Governance) |
|
B9 – Health and safety |
C8 – Revenues from certain sectors and EU exclusions |
|
B10 – Remuneration, collective agreements, and training |
C9 – Gender balance in top management |
|
G-metrics (Governance) |
|
|
B11 – Legal proceedings and fines related to corruption and bribery |
Scope 3 – an essential part of carbon accounting
Although Scope 3 reporting is not required in the Basic Module, we strongly recommend including it in your ESG report. For many SMEs, the majority of CO₂ emissions occur here — and the expectations from customers and partners in the value chain will only increase in the coming years.
Grant Thornton collaborates with Climaider and Verarca to provide digital tools that make carbon accounting simple, efficient, and affordable — without unnecessary complexity or cost.
Do you want to hear more?
Contact us today for a conversation about how we can help your company get started with your sustainability reporting – tailored to your specific ESG ambition level.
