BIS’ Project Symbiosis and the Future of SME Climate Disclosure in SE Asia
The recent launch of Project Symbiosis by the Bank for International Settlements Innovation Hub (BISIH) Hong Kong, in collaboration with the Hong Kong Monetary Authority (HKMA), marks a significant step forward in addressing one of the most persistent challenges in climate finance: how to measure and disclose Scope 3 emissions across global supply chains.
At the heart of the project is NEMO, the Novel Emissions Optimiser, an AI-powered tool designed to estimate Scope 3 emissions and identify financeable decarbonization opportunities. Scope 3 emissions, which include all indirect emissions from a company’s value chain, are notoriously difficult to measure. For small and medium-sized enterprises (SMEs), often lacking the resources, data infrastructure, or technical expertise, this challenge has historically excluded them from sustainability-linked finance.
Project Symbiosis addresses this gap directly. By using AI and big data, NEMO can model emissions even in data-scarce environments, offering SMEs a pathway to credible disclosure and, importantly, to accessing transition finance. The project also introduces a multi-party platform that streamlines data collection, automates emissions modeling, and matches SMEs with tailored, bankable decarbonization solutions.
Why We’re Watching This in Southeast Asia
We are particularly focused on the implications of Project Symbiosis for Southeast Asia. While the project is global in scope, its relevance to this region is clear. Southeast Asia is home to a vast and diverse SME ecosystem that underpins not only the region’s economy but also plays a critical role in global supply chains across manufacturing, agriculture, and logistics. These businesses are deeply embedded in global supply chains and are increasingly under pressure to meet the climate disclosure expectations of multinational buyers and financiers.
Yet only a small fraction of SMEs currently measure their greenhouse gas emissions, despite contributing significantly to overall emissions. This disconnect is especially pronounced in Southeast Asia, where regulatory frameworks, data availability, and access to finance vary widely.
We see Project Symbiosis as offering a scalable and inclusive model that could help bridge this gap. If tools like NEMO are adapted to local contexts through partnerships with regional banks, development finance institutions, and government agencies, they could help unlock a new wave of climate-aligned capital for SMEs in the region. This capital would not only support better emissions disclosure but also enable SMEs to take concrete steps to transition their businesses. That includes upgrading equipment, shifting to cleaner inputs, improving energy efficiency, and rethinking supply chain strategies to align with low-carbon development goals.
Aligning with Our Work
The project’s focus on financeable emissions reduction opportunities aligns closely with our mission to support nature-positive, climate-resilient projects across Asia. We believe the Symbiosis model, powered by AI and designed for flexibility, offers a practical framework for enabling SMEs to participate meaningfully in the sustainability transition.
Open Architecture, Regional Potential
Project Symbiosis is designed to be open and adaptable. This approach encourages broader uptake across the financial and policy landscape. Rather than locking its innovations behind proprietary systems, the project invites others to build on its architecture, making it easier for financial institutions, regulators, and support organizations to integrate emissions data into their work. That flexibility is especially important in Southeast Asia, where practical and scalable solutions are essential.
As Southeast Asia continues to grow as a global production and export hub, the need for transparent, actionable environmental data will only intensify. From our vantage point, Project Symbiosis shows that with the right tools and collaborative frameworks, it is possible to bring SMEs into the heart of the climate finance ecosystem—not as passive recipients, but as active agents of change.
Project Symbiosis is not just a technical prototype. It is a strategic intervention that could reshape how climate data, finance, and development intersect in one of the world’s most dynamic regions.
As a note of transparency, Seneca’s Jean-Marc Champagne contributed to the early scoping of Project Symbiosis. This engagement has informed our perspective on the initiative’s potential relevance for Southeast Asia and the broader climate finance ecosystem.
Author: Seneca Impact Advisors
For more information, please contact impact@senecaimpact.earth
