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COTD: SMEs lag behind larger firms in decarbonisation progress
Only 34% of SMEs have made significant decarbonisation progress.
In Singapore, non-SMEs lead in decarbonisation with 82% already in advanced and mid stages, according to Bain & Company.
In contrast, only 34% of SMEs have made significant progress in their decarbonisation journey.
Smaller SMEs, or those with annual revenues below $10m are lagging behind, with only 23% making progress, compared to 61% of larger SMEs or those with revenues over $50m.
Meanwhile, for SMEs earning between $10m and $50m, 42% have made significant progress.
In addition, a third, or 33% of SMEs have yet to start their decarbonisation journey, whilst 20% are just beginning and 12% are at the basic stage.
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