SMEs that adopt sustainability criteria improve market share and loyalty.
Madrid, May 12 (EFE).- Small and medium-sized Spanish companies that adopt ESG strategies for environmental, social, and governance sustainability outperform the European average in market share and customer loyalty, among other areas, making these policies "an opportunity for growth."
This is the conclusion of a study released by the insurance company Generali Spain and SDA Bocconi University, to mark European SME Day this Monday.
SMEs and sustainability criteriaThe report indicates that Spanish SMEs lead the way in perceived benefits from integrating sustainable practices: 86% improve their environmental impact, compared to 83% in the EU, 80% increase their market share (65% in the EU) and 80% increase customer satisfaction (74%).
In addition, 79% of Spanish SMEs have entered new markets (65% in the EU), 77% have improved their reputation and dialogue with their interlocutors (68%) and 77% have greater management team satisfaction (73%).
Improvements are also recorded in community relations (75%), employee satisfaction (73%), operational efficiency (72%), competitive advantage (70%), credit conditions (62%) and insurance (55%).
ESG (Environmental, Social & Governance) strategies refer to the criteria a company considers to advance its sustainable transition.
Barriers to undertaking the transitionThe same study shows, however, that Spain is also among the countries with the greatest perceived barriers to undertaking this transition, above the European average.
The main limitation, the authors argue, is the lack of sustainable financing, reported by 63% of Spanish SMEs (53% in the EU), followed by the scarcity of public incentives (59% in Spain / 54% in the EU), weak institutional support (58% / 53%) and the lack of a clear legislative framework (55% / 51%).
Other concerns include a lack of economic and financial resources (50%), insufficient market recognition (49%) and a lack of internal capabilities (47%).
Hungary, Croatia, Portugal, and Slovenia are the other countries with particularly high perceptions of obstacles to sustainable transition.
In contrast, France, Italy, Austria, and Germany present a somewhat more favorable ecosystem for the integration of ESG strategies into the business community. EFE nam/cc
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