Small and medium-sized enterprises (SMEs) play a vital role in the global economy, contributing to job creation and economic growth. SMEs account for 90% of businesses worldwide and more than 50% of global employment. In Europe, such statistics are even more impacting as SMEs represent 99.8% of private companies and more than 60% of employment.
Climate change poses significant risks to businesses around the world. Extreme weather events, such as floods, droughts, and hurricanes, can disrupt supply chains and cause widespread damage to infrastructure. Rising sea levels can threaten coastal properties and infrastructure, while increasing temperatures can impact worker health and productivity. Failure to address these risks by companies leads them to lose market share and profits, as consumers and investors demand more environmentally responsible practices.