50% of MSMEs claim to be aware of improvement in brand image, due to adoption of sustainability measures | Dun and Bradstreet

65% of the MSMEs do not have any defined sustainability targets. 68% have not established policy and procedures for sustainability, while 64% do not have sustainability related compliance measures in place.

· 50% of MSMEs claim to be fully aware of the improvement in brand image, cost reduction and attractiveness to various stakeholders due to adoption of sustainability measures.

· 90% of MSMEs view cost reduction as the most crucial factor, motivating them to implement sustainability initiatives.

Commenting on the findings of the survey, Arun Singh, Global Chief Economist, Dun & Bradstreet, said “Notably, it has been the increase in the awareness level which has driven the change in the Index as the level of implementation remained stagnant and willingness amongst SMEs saw a minor increase compared to last quarter. Insights from the survey indicate that one of the reasons which prevents implementation of sustainability measures is that majority of the SMEs, i.e., more than 60%, do not have any defined sustainability targets and have not established any sustainability policy and procedures. Three out of four SMEs also stated that they lack the internal expertise to create a sustainable business strategy. Availability of technical know -how (88%) and capital (81%) are the two biggest challenges faced by MSMEs. Awareness about availability of low-cost funding (green financing) is still low amongst MSMEs – 67% have limited or no awareness of low-cost green finance options.”