Ant International, the International Finance Corp. (IFC), and the Philippine finance super app GCash have announced a significant initiative aimed at enhancing digital financial inclusion through the development of a new Sustainability Impact Scorecard.
This innovative tool will assist micro, small, and medium enterprises (MSMEs) in evaluating their environmental and social effects, facilitating the adoption of sustainable business practices, and aligning with international ESG standards.
Bridging the MSME Financing Gap
In the Philippines, MSMEs make up 99.6% of all businesses and account for more than two-thirds of the national workforce. Despite their substantial contribution to the economy, these enterprises continue to face significant barriers to accessing financing.
By utilizing the GCash ecosystem alongside metrics specifically tailored for the Philippine context, the Scorecard aims to offer local MSMEs straightforward avenues for assessing their sustainability performance.
The Scorecard is designed to serve as a benchmark that will:
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Enable businesses to clearly showcase their existing sustainability practices.
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Establish the credibility needed to attract modern investors and lenders.
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Open doors to sustainable financing and green capital to foster business growth.
Winsley Bangit, GCash group head for new businesses, emphasized the transformative potential of this tool for MSMEs. “This provides visibility into their environmental and social impact and credibility that can attract green capital and partnerships,” Bangit stated.
Integrating AI and Driving Resilience
The collaboration aims to ensure that small businesses are not marginalized in the global sustainability movement. Carrie Suen, vice president and head of global affairs and strategic development at Ant International, highlighted the importance of making technology accessible to smaller enterprises.
“Our partnership with GCash and IFC aims to democratize technologies such as AI for local MSMEs, empowering them to engage in the next phase of sustainable digital transformation,” Suen noted. “This scorecard is a crucial instrument for future innovation, underscoring that genuine environmental sustainability must incorporate social and economic considerations.”
Christina Ongoma, IFC East Asia and the Pacific Regional advisory manager for financial institutions, reiterated this perspective. “MSMEs are pivotal across markets. By providing them with the right tools, we can enhance resilience, support adaptation, and facilitate sustainable growth at scale,” Ongoma said.
A Phased Rollout with Regional Ambitions
This initiative builds upon discussions from COP30 in Belém, Brazil, and Ant International’s Programme Sirius, launched in 2024 to help MSMEs initiate their sustainability journey.
With GCash as the official pilot partner, the project seeks to convert broad global sustainability commitments into tangible, data-driven digital solutions for underserved communities.
The pilot for the Scorecard will unfold in phases across the Philippines, beginning with ecosystem assessments and stakeholder engagement. This will be succeeded by the scorecard’s development, thorough validation, and field testing. Insights gained from the pilot will guide the potential expansion of the scorecard throughout the Asia-Pacific region.