Project Orion builds on the foundational work on reporting standards, including the EFRAG vSME and the UK SME reporting standard (led by Broadway Initiative and B4NZ). It will deliver an automated reporting implementation that can be adopted by the market.
Overview
Orion enables SME carbon reports to be made accessible to those needing it to accelerate the Net Zero transition. By building on the Perseus data-sharing Scheme, it will enable assurability, interoperability and scalability of distribution for these reports.
Target users include aggregators, registries, regulators, ESG platforms, and solution providers who will be able to scalably and confidently access accurate, comparable, trusted SME sustainability data while addressing data sharing controls, security and trust.
Reports powered by Orion will create an evidence-base of consistent, assurable, granular, and accurate data with a harmonised approach to allow financial products, modelled interventions, regulatory and policy instrument implementation, and commercial products to be delivered in an effective way and in a way that supports SMEs to grow clear revenue, save costs, reduce friction in sharing, de-risk, and participate in the Net Zero transition.
It serves to support:
- Structured, machine-readable, permissioned reporting
- Green lending, procurement, and compliance (e.g. Scope 3)
- Low cost, low friction mechanisms that benefit the market
- Using Perseus to access the core consumption reporting data required
Join as a Member
Becoming a member of the Orion Scheme allows you to:
- Shape the rules
Co-develop data, legal, and assurance standards for SME disclosure - Access networks
Collaborate with enterprise organisations, carbon platforms, data providers, and regulators - Lower risk
Support standardised, trusted reporting into loan products, procurement, and disclosure - Stay compliant
Align with emerging mandates like PPN 06/21, CSRD, SECR, and Companies House reforms
Who Should Join?
- Aggregators
Integrate Orion disclosures into ESG scoring, credit models, and risk tools - Financial Service Providers (FSPs)
Embed Orion into lending workflows - Carbon Accounting Providers (CAPs)
Use Orion to onboard SMEs, enrich reporting and enable automated disclosure - Trade bodies & Government
Support policy alignment and voluntary disclosure pathways - Tech platforms (e.g. e-invoicing)
Integrate Orion to surface sustainability data at the point of service
How will it work? (subject to co-design with members)
| Element | Description |
| Standard | Uses agreed, structured SME questionnaire (Scopes 1–3, net zero targets, actions) |
| Assurance | Optional verification via Perseus-aligned data flows (e.g. smart meter, EDP, CAP) |
| Rights control | Data shared with permissioned recipients via Trust Framework |
| Outputs | Assurable emissions reports for buyers, aggregators, financial services providers and regulators |
Join the Orion Scheme development
Membership Tiers (Annual)
- Strategic Partner: £150k
- Strategic Member: £15k to 60k (based on org size)
- Standard Member: £600–6,000 (based on org size)
Existing Perseus members receive a 50% discount
Includes access to:
- Scheme governance (Steering, Advisory, Working Groups)
- Trust Services (Trust Framework and supporting services)
- Legal templates, APIs, directories
- Pilot and sandbox environments
Contact partners@ib1.org for more information.