Catherine Atkin, an international expert in carbon markets and ESG standards, is visiting Montenegro where she is leading discussions on a regional initiative aimed at facilitating access to green finance for small and medium enterprises (SMEs) and preparing them for alignment with European standards in the areas of ESG and decarbonisation.
As a co-founder of the Global Alliance for Decarbonisation Market Mechanisms and Sustainable Finance (DSMDA), Atkin is leading the development of a digital platform that enables automated reporting on energy consumption and emissions. This opens up opportunities for SMEs to access green loans, grants, and easier entry into financial markets. Her visit to Montenegro is part of a broader regional dialogue already underway in North Macedonia, where a memorandum of cooperation has been signed with the Government. The goal of the initiative is for Montenegro to become one of the first countries in the region to consider partnership on this project.
“Green transition must not be a privilege of the large players. Our goal is to provide SMEs with practical tools, based on open data and automation, so they can demonstrate their environmental contribution and access funding that has so far been out of reach,” said Atkin.
The digital platform is particularly significant for the Western Balkans, where over 390,000 SMEs operate, many of which face limited resources and a lack of reliable tools for tracking emissions. Without such tools, it is difficult for them to meet the requirements of EU regulations such as the CSRD and CBAM, or to fully utilise instruments like the EBRD’s green credit fund.
During her visit, Atkin met with Ivan Bulatović, CEO of the Electric Power Company of Montenegro (EPCG), who emphasised EPCG’s recognition of the importance of supporting SMEs in their transition and its willingness to contribute to the dialogue around such initiatives. “Digital tools like this platform can play a key role in accelerating the green transition and preparing our economy for European standards,” Bulatović stated.
The initiative’s connection with Montenegrin institutions and businesses was facilitated by Biljana Braithwaite, Director of Sustineri Partners and co-founder of the ESG Adria Summit, which has established itself as the leading regional platform for dialogue among businesses, investors, and policymakers.
“We believe Montenegro has an opportunity, through initiatives like this, not only to catch up with European standards but also to become an example of how digital transformation, sustainable finance, and green transition can be practically integrated. Sustineri is committed to connecting local stakeholders with international partners and solutions that deliver real impact on the economy and community,” said Braithwaite.
The first phase of the project will be implemented by the end of 2025, with support from philanthropic funds. The aim is to launch pilot programmes in countries across the region, including Montenegro, in cooperation with local banks, institutions, and distribution systems. The platform will enable SMEs to automatically collect and share data on their energy and water consumption with financial institutions, helping them meet EU requirements and gain easier access to green loans and grants. The initiative is being developed by the Data Foundation, a US-based organisation dedicated to applying open data for public good.
