SMERA launches Green Rating

Bangalore, 12 April 2010: Reduction in GHGs emission and energy conservation is the new mantra to reduce the adverse effect of global warming. Considering the rapid climatic changes experienced globally in the recent past, various Government initiatives are underway to reduce the carbon emission in the atmosphere.

One such initiative “Green Rating” was launched by the SME Rating Agency of India Ltd-(SMERA), recently, during a function arranged to celebrate SIDBI’s 20th Foundation Day. Hon’ble Union Finance Minister Padma Vibhushan Shri Pranab Mukherjee presented the first Green Rating Certificate to M/s Ultimate Alloys - Coimbatore.

Speaking at the event, Hon. Finance Minister stated that “The launching of “Green Ratings” by SIDBI, through its Associate – SME Rating Agency of India (SMERA), is truly an innovative initiative to sensitize MSMEs on the importance of becoming environmentally friendly and energy efficient. We all know about the adverse impact of global warming and climate change. MSMEs – owing to their sheer size and number, can be a positive catalyst in our battle against climate change. I would urge all the Banks and Financial Institutions to encourage their MSME clients to go in for Green Ratings”

Shri R M Malla, Chairman & Managing Director, SIDBI, stated that “Green Ratings from SMERA would enable SIDBI and other lenders to offer preferential interest rate to well rated SMERA Green units there by promoting investment in clean and energy efficient technologies in MSMEs

SIDBI has also launched a pilot scheme wherein units obtaining SMERA-Green Rating 1 & 2 would be eligible for interest rate concession of 50 bps and units obtaining rating of SMERA-Green Rating 3 would be eligible for interest rate concession of 25 bps.

Mr. Parag Patki, CEO, SMERA, mentioned that “SMERA has kick started this initiative in the steel sector and will continue its journey in assigning Green Ratings to newer sectors that are energy intensive. He further added that the rating process will be utilized as a tool to sensitize the Micro and Small enterprises in the country on the risk associated in continuing with their existing processes and technologies and importance of adopting energy efficient technologies from changing environmental compliance as well as energy efficiency perspective”.

SMERA’s-Green Rating is an independent, third party comprehensive measure of units’ sensitivity towards environment and the affirmative action adopted by the unit to reduce energy consumption and emission. The rating methodology would include submission of data by the applicant followed by the site visit and interaction with management. The final rating assessment is undertaken by a committee comprising of external experts and on its finalization, the rating will be disseminated to the applicant.

The SMERA-Green Rating is on a scale of 1-5, wherein “SMERA-Green Rating 1” is the top most rating denoting the unit’s efficient usage of energy with minimal emission of GHG and adoption of processes to control air, water, and land pollution. “SMERA-Green Rating 5” indicates lowest grade on scale of 1-5 with the unit’s inefficient usage of energy due to its existing processes and technology causing severe damage to the environment.

About SMERA:
SME Rating Agency of India Limited (SMERA), is a joint initiative of Small Industries Development Bank of India, Dun & Bradstreet Information Services India Pvt Ltd. and leading public and private sector banks, which is presently offering enterprise ratings to Micro, Small & Medium Enterprises, Ratings of Microfinance Institutions, Gradings of Greenfield & Brownfield Projects and Educational Institutions.

SMERA has completed ratings of over 6500 MSMEs since inception. SMERA has also signed MOUs with more than 26 banks and lending institutions.
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