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AndOn June 27, we celebrate World Small and Medium Enterprises Day, a time to reflect on the importance of SMEs in the sustainable development of our society. In Spain, SMEs represent 99.9% of the business fabric, generate 66% of total employment and contribute almost 62% of the national GDP. In the UN Global Compact in Spain, we have more than 900 SMEs committed to the initiative, representing 55% of the more than 1,700 partner entities; while at a global level, more than 56% of the 25,000 participating companies are SMEs.
1. How are you moving forward in sustainability?
SMEs are making significant progress in adopting sustainable practices, transforming sustainability and Environmental, social and governance aspects (Environmental, Social and Governance) in The main pillars of its development.
According to the 2024 Sustainable Development Consultation prepared by the UN Global Compact in Spain, 85% of SMEs are aware of the Sustainable Development Goals, which represents a significant increase compared to previous years. In addition, 33% of these companies prioritize and analyze their impact on the Sustainable Development Goals, increasing this focus by 10% from 2022.
Sustainability training has proven to be essential for effective management of ESG criteria. Currently, 66% of SMEs provide some form of Training on sustainability issues for your interest groupsThis is a significant increase compared to the 48% recorded in 2022. Likewise, 81% of SMEs indicate that working on sustainability provides them with competitive advantages, highlighting the importance of these efforts in a market that is increasingly aware of sustainability.
A continued commitment to sustainability allows SMEs to not only meet market expectations, but also lead the way towards a more balanced and responsible future. By embedding these principles into their operational core, SMEs can create a model for other businesses to follow and demonstrate Success and sustainability go hand in hand.
2. Challenges and opportunities available to SMEs
SMEs play an essential role in the global and national economy, but they face significant challenges that limit their impact on markets. Environmental, Social and Governance (ESG) aspects. Limited access to finance makes it difficult to invest in green technologies or sustainable practices, while implementation costs can be significant. Lack of staff, time, and specialized knowledge further complicates the sustainability integration process. In addition, regulatory compliance requires continuous adaptations, which can be complex, and political and economic instability affects long-term planning. Finally, large companies value the sustainability of their suppliers, thus increasing business opportunities for sustainable SMEs.
However, not only do barriers exist, they are also important Opportunities Which they can reach if they can put sustainability at the heart of their companies’ strategies. They can access new markets driven by growing demand for sustainable products and services, realize long-term savings through efficient use of resources, and form strategic alliances with large companies that value the sustainability of their suppliers. In addition, they can improve their reputation and trust in their brand, access public contracts that take into account sustainability standards, stay ahead of future regulations, avoid penalties and improve their competitiveness in the market.
In short, SMEs have the opportunity to be part of the change towards a more sustainable and just world, leaving no one behind, and carve a niche for themselves in a market that increasingly recognizes the importance and opportunities that sustainability offers.
3. Four key resources to enhance sustainability
Becoming a sustainable business can be a huge challenge, especially when resources are limited and you don’t know where to start. It is necessary to have the right knowledge to be able to act. With an increasing focus on sustainability and environmental, social and governance standards, It is necessary to train SMEs to become leaders of change.
At the UN Global Compact, we support small and medium-sized businesses, providing them with a wide range of practical resources and tools so they can create their own sustainability roadmap: employee training, awareness-raising materials for CEOs, practical resources, personalized learning methods, Acceleration programs and working groups. SMEs must recognize their role and actively commit to business sustainability.
We tell you four key resources you can’t miss to start making progress in sustainability:
- Be a company that delivers change across the value chain through our partners Supplier training program continuous. You will be able to train for 6 months in the areas of sustainability, the Sustainable Development Goals, the 10 Principles of the Global Compact, sustainability reporting, incentives and the internationalization of sustainable companies.
If your SME shares our goal of ethical management based on the 10 principles and also wants to contribute to achieving the Sustainable Development Goals, do not miss the opportunity to be part of this business revolution And Leading change towards a more sustainable future. Join the largest international business sustainability initiative promoted by the United Nations, and you will actively contribute to the transition towards a more sustainable and equitable world. It’s time to give One step ahead to move forward In your actions.
to request more information here Or write to us at [email protected]
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