A majority of Singapore’s small and medium-sized enterprises (SMEs) are at a standstill in the green transition, with three in four yet to embark on their sustainability journey, a new study has found.
Despite forming the backbone of the economy, these firms are struggling to decarbonise due to constraints in money, skills, and time.
Those were some of the key findings of the inaugural 2025 SME sustainability barometer launched at this year’s Singapore Fintech Festival by sustainability data platform Gprnt and professional services firm PwC Singapore.
The study, which involved over 560 SMEs across 19 sectors, revealed that despite the availability of various government assistance schemes, over 70% of firms had not accessed any form of support, even as 52% reported funding constraints. Four in five SMEs also lacked clarity on returns from green investments, making it hard to justify the costs amid tight operating margins.
Additionally, about three in four SMEs reported not having the technical know-how to translate sustainability goals into concrete action plans. At the same time, over 40% of them had limited bandwidth to explore available sustainability programmes due to rising economic pressures.
