What is VSME?
VSME stands for The Voluntary Standard for Non-listed, Micro-, Small- and Medium-sized Enterprises, and is a voluntary standard that makes it easier for small and medium-sized companies to report on sustainability. A Nordic Swan Ecolabel license can simplify reporting as it provides structure to your product development and sustainability work.
The standard is based on ESRS but is adapted for smaller companies that want to report sustainability information in a simple and relevant way.
The purpose of VSME is to:
- provide information that helps meet the data needs of large companies requesting sustainability information from their suppliers;
- provide information that helps meet the data needs of banks and investors, thereby assisting companies in their access to finance;
- improve the management of the sustainability issues they face, i.e. environmental social challenges such as pollution, labour health and safety. This will support competitive growth and increase their resilience in the short, medium and long term;
- contribute to a more sustainable and inclusive economy.
What should you report?
VSME is structured in two different modules:
- Basic module
- Comprehensive module
In the basic module, you must report basic facts about the business such as company information, energy use, greenhouse gas emissions, work environment, gender equality policies and sustainability certifications such as the Nordic Swan Ecolabel and the EU Ecolabel.
In the more comprehensive module, in addition to what is reported in the basic module, you must also report on what strategies and goals you have to reduce your impact on the environment and climate, risk management and social factors.
None of the modules require a double materiality analysis.