Maria Soares do Lago participates in session on financing and corporate sustainability

Sustainability, financing and new European requirements for companies were discussed at Fórum Banca 2026, in a session featuring Maria Soares do Lago.

Maria Soares do Lago took part in Fórum Banca 2026, organised by Jornal Económico, which took place on 10 March at the Ritz Hotel in Lisbon, bringing together leaders from the financial sector, policymakers and experts to discuss the main challenges facing banking and corporate financing.

Sustainability rules and their impact on SME financing

During her intervention, the partner in the Banking and Finance practice at Morais Leitão highlighted the impact of recent European changes to sustainability reporting and due diligence rules, warning of the risks these developments may pose for small and medium-sized enterprises’ access to financing.

According to Maria Soares do Lago, there is a risk that regulatory simplification may lead some companies to slow down their adaptation to sustainability requirements. The lawyer stated: “If companies are unable to evolve in this direction, their situation will start to become increasingly difficult.”

Sustainable transition presents challenges for small and medium-sized enterprises

The Morais Leitão partner nevertheless acknowledged the challenges many SMEs face in this transition process. She noted that “it is not easy to have this conversation” with “small companies that sometimes struggle even to keep their employees and pay salaries at the end of the month”.

Even so, she stressed that progress towards reporting models and strategies aligned with ESG criteria remains essential to ensure access to bank financing and competitive conditions. Otherwise, companies may face a more restrictive environment.

Sustainability may influence financing options

In this context, Maria Soares do Lago stated: “I fear that the financing alternatives available to these companies may begin to narrow significantly.”

In practice, she explained, the lack of structured sustainability information may limit SMEs’ ability to respond to the requirements of financial institutions and large companies with which they work. The result may be “a narrowing of options, or at least of the more affordable options, with more favourable interest rates”, she said.

Simplification of European rules and impact on ESG reporting

She also highlighted that the recently reached European agreement aims to reduce the administrative complexity associated with sustainability reports and ESG obligations, concentrating these requirements on larger companies. Nevertheless, she argued that SMEs should continue preparing for this transition, as sustainability criteria are increasingly integrated into financing decisions and corporate value chains.

Find out more about this debate in Jornal Económico.