VSME is a separate, voluntary reporting standard for SMEs and micro-enterprises that are not covered by the CSRD. The VSME is a simple standard framework, and its content was adopted at the end of 2024. The VSME standard is designed to enable smaller companies that are not covered by the CSRD to respond to the growing demand for sustainability information. The VSME standard consists of two modules, for which companies should report at least according to the Basic module. In addition, a Comprehensive module can be added to the reporting, which includes data points that may be required by banks, credit institutions and corporate clients.
In terms of GHG emissions calculation, the VSME standard requires companies reporting under it to calculate the scope 1 and scope 2 location-based greenhouse gas emissions of their own operations. In addition, the standard also recommends companies to identify their own scope 3 value chain and calculate these emissions if possible.