Funding: in Italia, 34 per cent goes to SMEs exposed to high climate risk
Heatwaves and heat-related stress remain the most significant factors. This is according to the Crif Observatory
The whole of Europe is currently grappling with heatwaves that are causing temperatures to soar, in some cases exceeding 40 degrees. This extreme situation is having significant consequences. Alongside the considerable discomfort caused to people, there are also enormous economic challenges for businesses.
More than a third (34.3 per cent) of Italian small and medium-sized enterprises (SMEs) that have received funding are classified as ‘belonging to the highest risk categories’: this quote is taken from the findings of the ESG Outlook 2026, Crif’s sustainability observatory, now in its fourth edition; the risk in question is ‘physical’ risk caused precisely by climate change. We are therefore talking about floods, water stress, heatwaves and other similar phenomena that are devastating large areas.
The analysis carried out by the analysts covered 315,000 SMEs and 600 large Italian companies and relates to 2025.
The Crif methodology
Crif, in collaboration with Risk Engineering and Development (Red), has considered 18 risk factors across three dimensions: geographical hazard, vulnerability and exposure. Specifically, ‘vulnerability’ refers to the estimated economic impact that the occurrence of a particular natural event may have on a business, depending on the economic sector in which it operates; ‘exposure’, on the other hand, refers to the value of the company’s assets and output that may be adversely affected by natural events.
The forecasts then generate a score ranging from 1 (low risk) to 5 (very high risk).
