TranspArEEnS · Project

Standardized Energy Efficiency Ratings to Fight Greenwashing and Unlock SME Financing

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Imagine you're a bank trying to figure out which companies are truly energy-efficient and which are just painting themselves green. Right now, there's no standard way to measure this — everyone uses different yardsticks, and small businesses get ignored entirely. TranspArEEnS built a standardized rating system that scores how energy-efficient a company really is, specifically designed to include small and medium businesses that current ESG ratings skip over. Think of it as a reliable nutrition label, but for a company's energy performance — so investors and banks can finally compare apples to apples.

By the numbers

Non-listed SMEs

Target segment covered by the EE-ESG rating that mainstream ratings miss

Consortium partners across the project

Countries represented in the consortium (BE, DE, IT)

Total deliverables produced

Industry partners in the consortium

40%

Industry ratio in the consortium

The business problem

What needed solving

Banks and investors cannot reliably assess which companies are truly energy-efficient because there is no standardized way to disclose and rate energy efficiency performance within ESG frameworks. This creates greenwashing risk and blocks access to green financing — especially for non-listed SMEs that fall outside mainstream ESG coverage entirely.

The solution

What was built

The project delivered a standardized EE-ESG rating methodology covering non-listed SMEs, a protocol for greenwashing detection in energy efficiency and ESG products, and pilot-tested integration pathways for credit risk assessment and securitization instruments. In total, 11 deliverables were produced across the 3-year project.

Audience

Who needs this

Commercial banks developing green loan products for SMEsESG rating agencies looking to standardize energy efficiency metricsAsset managers building sustainability-aligned investment portfoliosEnergy efficiency consultancies helping clients access green financeFinancial regulators and central banks integrating climate risk into prudential supervision

Business applications

Who can put this to work

Financial services & banking

enterprise

Target: Commercial banks and credit institutions offering green loans

If you are a bank struggling to assess energy efficiency claims from loan applicants — this project developed a standardized EE-ESG rating methodology tested with financial industry representatives. It gives you a consistent scoring system for credit risk assessment that distinguishes genuinely efficient companies from greenwashing, and it specifically covers non-listed SMEs that mainstream ESG ratings ignore.

ESG rating & data providers

mid-size

Target: ESG rating agencies and sustainability data vendors

If you are an ESG data provider facing criticism over inconsistent energy efficiency metrics — this project created a quali-quantitative method for standardized collection and analysis of firms' energy efficiency information. It was piloted with leading financial industry representatives across 3 countries, and comes with a greenwashing detection protocol covering 11 deliverables in total.

SME advisory & energy consulting

SME

Target: Energy efficiency consultancies serving small businesses

If you are a consultancy helping SMEs access green financing but your clients get rejected because they lack recognized ESG credentials — this project specifically designed its EE-ESG rating to cover non-listed Small and Medium Enterprises. The methodology was built with input from 5 consortium partners including 2 industry players, addressing a documented market gap where SMEs are excluded from standard ESG assessments.

Frequently asked

Quick answers

What would it cost to implement this EE-ESG rating methodology?

The project budget is not publicly available in the dataset. As a Coordination and Support Action, the outputs are methodological tools and protocols rather than commercial software. Licensing or implementation costs would need to be discussed directly with the consortium.

Can this rating system scale to cover thousands of companies?

The methodology was designed specifically to fill the gap for non-listed SMEs — a vast market segment that current ESG ratings ignore. It was tested in pilot case studies with financial industry leaders and supervisors. Scaling would depend on the data collection infrastructure a financial institution already has in place.

Who owns the intellectual property and can we license it?

The project was funded as a Coordination and Support Action (CSA), meaning outputs are typically intended for broad dissemination rather than exclusive licensing. The consortium is led by Università Ca' Foscari Venezia with 5 partners across 3 countries. Contact the coordinator for specific IP and usage terms.

Does this align with current EU sustainable finance regulations?

Yes — the project directly addresses EU2030 energy targets and European Green Deal alignment. It was designed to integrate with credit risk assessment, securitization instruments like covered bonds and European Secured Notes, and monetary policy considerations. The greenwashing detection protocol aligns with increasing EU regulatory pressure on ESG claims.

How long would it take to integrate this into our existing ESG assessment process?

The project ran from June 2021 to May 2024 and produced 11 deliverables including pilot-tested methodologies and a greenwashing detection protocol. Based on available project data, integration timelines would depend on your current data infrastructure, but the standardized approach was specifically designed to be operationalized in credit risk and investment workflows.

Was this tested with real financial institutions?

Yes — the EE-ESG rating was tested in pilot case studies and capacity building sessions with leading representatives of the financial industry and supervisors. The consortium includes 2 industry partners, giving the methodology practical grounding beyond academic theory.

Consortium

Who built it

The consortium of 5 partners across 3 countries (Belgium, Germany, Italy) is compact but well-balanced for a methodology-focused project. With 2 industry partners (40% industry ratio) alongside 1 university, 1 research organization, and 1 other entity, it bridges academic rigor with practical financial industry needs. The project is led by Università Ca' Foscari Venezia, a well-regarded Italian university with strong economics and finance departments. The presence of partners in Belgium and Germany — two major EU financial centers — adds credibility for policy-level adoption. The inclusion of 1 SME partner signals awareness of the small business perspective that the rating system targets.

UNIVERSITA CA' FOSCARI VENEZIACoordinator · IT
CRIF SPAparticipant · IT
COVERED BOND & MORTGAGE COUNCILparticipant · BE
LEIBNIZ-INSTITUT FUR FINANZMARKTFORSCHUNG SAFE EVparticipant · DE
MODEFINANCE SRLparticipant · IT

How to reach the team

Università Ca' Foscari Venezia (Italy) — search for TranspArEEnS project coordinator via the university's economics or finance department

Order a report on this consortium See UNIVERSITA CA' FOSCARI VENEZIA profile →

Next steps

Talk to the team behind this work.

Want to integrate standardized EE-ESG ratings into your lending or investment process? SciTransfer can connect you with the TranspArEEnS team and help you evaluate the methodology for your specific use case.

Order a report on this topic More in Energy & Climate