Press Release

Lack of Know-How Limits Sustainability Adoption: Only 25% MSMEs Claim Internal Proficiency – SIDBI – D&B SPeX

The SIDBI – D&B Sustainability Perception Index (SPeX), also known as the “green pulse indicator,” increased by 4.3% to 48 during the July-September 2023 period from the previous quarter.

Dun & Bradstreet, a leading global provider of business decisioning data and analytics, along with SIDBI, released SPeX for July – September 2023, which evaluates the perception of sustainability among MSMEs across three key dimensions: willingness, awareness, and implementation. The SPeX scale ranges from 0 to 100, with an increase in index value signifying an enhanced perception of sustainability. The overall SPeX value reflects changes within these dimensions, providing insights into how MSMEs understand, are willing to engage with, and implement sustainability measures. An increase in SPeX suggests a positive shift in MSMEs’ perceptions and practices related to sustainability.  A decrease might indicate challenges or a decline in awareness, willingness, or implementation.

Arun Singh, Global Chief Economist, Dun & Bradstreet, said, “Even as MSMEs claim sustainability initiatives have positively contributed to retaining clients, their implementation remains low. Our survey indicates that limited internal implementation capabilities, lack of technical know-how and capital availability are the primary challenges in implementing sustainability initiatives. The apparent gap between available support (from agencies and the government) and sustainability adoption by MSMEs needs to be bridged, especially given the national and international efforts towards achieving ‘net-zero’ emissions.”

Dr. R.K Singh, CGM, SIDBI stated, “SIDBI – D&B Sustainability Perception Index Survey, July – September 2023 clearly indicates that there is a continued need to augment the capacity building efforts on demand i.e. enterprise side. While awareness and willingness remain high for MSMEs on the top of the pyramid, the level of implementation needs a fillip across all sizes of enterprises. Thus, it is important to understand how an enterprise leadership understands the potential benefits of implementing sustainable, clean, green, and environment friendly initiatives. SIDBI is committed to provide all out support to MSMEs moving towards climate, sustainability & green investments. It’s Panchtatva missions viz. Energy Efficiency, Sustainable Commuting (EV Adoption), Solar, Waste2Envttaste (all type of waste management including MSW, CBG, etc.) and Nurture t Nature (developing a trusted, validated stack of clean, green, environment friendly technologies / processes) are oriented to enhance the acceptability amongst MSMEs to Go Green and also adopt E&S practices. SPeX is poised to evolve as a tracker of MSMEs’ intent and preparedness to “Go Green”. We are also reciprocating the aspirations of MSMEs through financial products coupled with digital tools and building lenders capacity. As SPeX matures, we shall be sharing this with other lenders and stakeholders to infer from this and be part of greening the Indian enterprise ecosystem.”

Highlights of the SPeX Report:

  • SIDBI – D&B Sustainability Perception Index (SPeX) – a green pulse indicator – value for July-September 2023 improved to 48 from 46, indicating improvement in sustainability implementation by MSMEs.
  • 2 in 5 MSMEs claim that sustainability initiatives have positively contributed to retaining clients.
  • Implementation among MSMEs remains low, with the median value at 38, even as awareness (median value at 52) and willingness (median value at 45) among MSMEs remain high.
  • MSMEs continue to highlight technical expertise and capital availability as their primary challenges in implementing sustainability initiatives. This observation has been consistent across three consecutive surveys.
  • Only 25% MSMEs claim to have internal expertise to implement sustainability measures.
  • Across three consecutive surveys, MSMEs have expressed the need to undertake efforts to enhance awareness of sustainability measures, policies, and procedures.
  • Only 1 in 3 MSMEs is aware of green financing and the impact of sustainability on improving brand image and its competitiveness.
  • Compliance ranks low in the list of MSMEs’ priorities; only 17% have initiated sustainability-related policies and procedures and 23% claim prompt & full compliance with sustainability regulations.


About Dun & Bradstreet:


Dun & Bradstreet, a leading global provider of business decisioning data and analytics, enables companies around the world to improve their business performance. Dun & Bradstreet’s Data Cloud fuels solutions and delivers insights that empower customers to accelerate revenue, lower cost, mitigate risk and transform their businesses. Since 1841, companies of every size have relied on Dun & Bradstreet to help them manage risk and reveal opportunity. For more information on Dun & Bradstreet, please visit


Dun & Bradstreet Information Services India Private Limited is headquartered in Mumbai and provides clients with data-driven products and technology-driven platforms to help them take faster and more accurate decisions in domains of finance, risk, compliance, information technology and marketing. Working towards Government of India’s vision of creating an Atmanirbhar Bharat (Self-Reliant India) by supporting the Make in India initiative, Dun & Bradstreet India has a special focus on helping entrepreneurs enhance their visibility, increase their credibility, expand access to global markets, and identify potential customers & suppliers, while managing risk and opportunity.


India is also the home to Dun & Bradstreet Technology & Corporate Services LLP, which is the Global Capabilities Center (GCC) of Dun & Bradstreet supporting global technology delivery using cutting-edge technology. Located at Hyderabad, the GCC has a highly skilled workforce of over 500 employees, and focuses on enhanced productivity, economies of scale, consistent delivery processes and lower operating expenses.


Visit for more information.

Click here for all Dun & Bradstreet India press releases.



Media Contact:
Kaustav Bhattacharya

Email: [email protected]
Phone: +91 96503 06645



About SIDBI:

Small Industries Development Bank of India (SIDBI) in its role as the Principal Development Finance Institution for MSME sector has played a significant role in developing the financial services for MSME sector through various interventions including Refinance to Banks, Credit Guarantee programs, Development of the MFI sector, Contribution to Venture capital/AIF funds, MSME ratings, promoting digital lending ecosystem, etc. The Bank has proactively been working toward Energy Efficiency (EE) in MSMEs since 2005-06 as part of Direct Finance business using support of multilaterals like   World Bank, ADB, GiZ, FCDO, JICA, AFD, KfW etc for energy efficient projects. SIDBI has taken steps to promote Energy Efficiency and Cleaner production in the MSME sector and propose to accelerate its efforts for MSME sector for their survival, growth and competitiveness in long run during prevailing climate related challenges.

Looking to importance of ESG aspects and the need for a simplified, customised ESG risk rating framework, SIDBI has already started integration of ESG framework into its operations. Subsequent to setting up of Green Climate Finance Vertical for prioritised focus, a Board level Committee has been constituted for guidance, oversight and monitoring on ESG, Green Strategy of the bank, including relevant SDGs etc. To lead with the example, SIDBI has set a target to become Carbon Neutral by 2024 and Net Neutral organization in subsequent years.

Through Green Financing products and other developmental activities, SIDBI enables the manufacturers and service providers in MSME sector to adopt green energy efficient technologies helping in lesser waste leading to positive impact on environment and sustainability.