Some European SMEs and mid-sized companies are doubling down on energy transition. This is what the Argos BCG barometer shows, a survey carried out among companies with fewer than 5,000 employees.
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More and more European SMEs and ETIs (mid-sized companies) are investing in reducing their greenhouse gas emissions, according to the second edition of the barometer established by the European fund Argos and the research firm BCG (formerly Boston Consulting Group) on the progress of European SMEs and ETIs in terms of decarbonization, published on May 30. They surveyed 700 companies based in France, Italy, Germany and Benelux, and 17% of them say they have invested heavily financially, according to a structured decarbonization plan in 2023 (six points more than in 2022). They also measured their CO2 emissions. The amounts concerned are not made public for reasons linked to competition law.
It is in transport and logistics that most European SMEs and mid-sized companies are investing to green their activities (60% of all companies surveyed). This is twice as much as in the industry. According to the European Commission, the 23 million SMEs that exist in Europe represent around 63% of the total CO2 emissions of European companies.
This communication from the companies concerned is not greenwashing. These are the new standards enacted in Europe which are directing companies towards more transparency. These standards push them to accelerate towards the clarity and sincerity of data to avoid public denunciation and, ultimately, penalties. This is particularly the case of the new Corporate Sustainability Reporting Directive (CSRD) regulation, which came into force on January 1, 2024, which requires SMEs, ETIs and large groups – companies listed on the stock exchange – to publish their environmental data, as part of Corporate Social Responsibility (CSR).
This is a very restrictive regulation, but one that companies should consider more as an aid to change, even if they have to devote a lot of time, money and mobilize their internal teams. This is more or less easy depending on their size and their cash flow.
