Results of EthiFinance’s annual pan-European survey
Key trends
A continued improvement in ESG performance, with an average score of 53/100, up 4 points compared to 2023, confirming the growing commitment of European SMEs to sustainability.
The environmental pillar shows the strongest momentum, with a 13-point increase since 2022, driven by European regulation and improved corporate transparency regarding emissions, water consumption, and energy policies.
Regional differences persist: companies in southern Europe (France, Spain, Portugal) are performing best, while non-EU countries are lagging behind, particularly on social issues.
Certain sectors stand out significantly: automotive, materials, and real estate lead the way, with notable improvements in both environmental and social aspects.
Finally, the study confirms a strong link between participation in the rating dialogue and performance: companies that responded to EthiFinance scored an average of 12 points higher than those that remained silent.
Methodology
Annual study on the ESG performance of small and medium-sized listed companies in Europe.
1,900 companies in 11 sectors – 7 European regions.
ESG rating methodology developed by EthiFinance, based on 140 indicators grouped into four pillars: Environment, Social, Governance, and External Stakeholders.
It is based on the double materiality approach, integrating both the financial risks for the company and the impacts on its stakeholders.
Scores are expressed on an absolute scale from 0 to 100.
