---
_id: '67488'
abstract:
- lang: eng
text: The European sustainable finance framework targets large corporations but
also affects small and medium-sized enterprises (SMEs). This paper examines how
European SMEs engage with sustainable finance, focusing on financing channels,
use of green and capital market financing, and integration into sustainability
reporting, including costs and relevance of data collection.Internal funds, traditional
bank loans, and public funding programmes are the main instruments for financing
SME sustainability, while capital market financing and green instruments are largely
irrelevant. Traditional banking relationships continue as the primary external
financing source. Many SMEs invest in sustainability without systematically collecting
or reporting ESG data. Costs for sustainability reporting and ESG data collection
in micro and small enterprises remain consistent with previous estimates. Despite
growing “noise” around sustainable finance as a lever for the green transition,
capital market financing and dedicated green finance instruments remain largely
irrelevant for SMEs. Sustainability reporting is mainly driven through value chains
rather than banks, indicating that market demand, not financial instruments, drives
SME sustainability investment.
author:
- first_name: Felix
full_name: Rossmann, Felix
id: '98531'
last_name: Rossmann
- first_name: Jan
full_name: Greitens, Jan
last_name: Greitens
- first_name: Lisa
full_name: Knoll, Lisa
id: '88789'
last_name: Knoll
citation:
ama: Rossmann F, Greitens J, Knoll L. Small and medium-sized enterprises and sustainable
finance – European survey results. Sustainable Finance Review. Published
online 2026:1-16. doi:10.1108/sfr-01-2026-0019
apa: Rossmann, F., Greitens, J., & Knoll, L. (2026). Small and medium-sized
enterprises and sustainable finance – European survey results. Sustainable
Finance Review, 1–16. https://doi.org/10.1108/sfr-01-2026-0019
bibtex: '@article{Rossmann_Greitens_Knoll_2026, title={Small and medium-sized enterprises and
sustainable finance – European survey results}, DOI={10.1108/sfr-01-2026-0019},
journal={Sustainable Finance Review}, publisher={Emerald}, author={Rossmann, Felix
and Greitens, Jan and Knoll, Lisa}, year={2026}, pages={1–16} }'
chicago: Rossmann, Felix, Jan Greitens, and Lisa Knoll. “Small and Medium-Sized
Enterprises and Sustainable Finance – European Survey Results.” Sustainable
Finance Review, 2026, 1–16. https://doi.org/10.1108/sfr-01-2026-0019.
ieee: 'F. Rossmann, J. Greitens, and L. Knoll, “Small and medium-sized enterprises and
sustainable finance – European survey results,” Sustainable Finance Review,
pp. 1–16, 2026, doi: 10.1108/sfr-01-2026-0019.'
mla: Rossmann, Felix, et al. “Small and Medium-Sized Enterprises and Sustainable
Finance – European Survey Results.” Sustainable Finance Review, Emerald,
2026, pp. 1–16, doi:10.1108/sfr-01-2026-0019.
short: F. Rossmann, J. Greitens, L. Knoll, Sustainable Finance Review (2026) 1–16.
date_created: 2026-10-10T09:53:25Z
date_updated: 2026-10-10T10:01:58Z
department:
- _id: '36'
- _id: '121'
doi: 10.1108/sfr-01-2026-0019
language:
- iso: eng
page: 1-16
publication: Sustainable Finance Review
publication_identifier:
issn:
- 2977-7542
publication_status: published
publisher: Emerald
status: public
title: Small and medium-sized enterprises and sustainable finance – European survey
results
type: journal_article
user_id: '88789'
year: '2026'
...
---
_id: '64781'
author:
- first_name: Felix
full_name: Rossmann, Felix
id: '98531'
last_name: Rossmann
- first_name: Jan
full_name: Greitens, Jan
last_name: Greitens
- first_name: Lisa
full_name: Knoll, Lisa
id: '88789'
last_name: Knoll
citation:
ama: 'Rossmann F, Greitens J, Knoll L. SMEs within a Data-Driven Sustainable
Finance Framework: A European Survey.; 2025. doi:http://dx.doi.org/10.2139/ssrn.5677922'
apa: 'Rossmann, F., Greitens, J., & Knoll, L. (2025). SMEs within a Data-Driven
Sustainable Finance Framework: A European Survey. http://dx.doi.org/10.2139/ssrn.5677922'
bibtex: '@book{Rossmann_Greitens_Knoll_2025, series={CFS WP No 735}, title={SMEs
within a Data-Driven Sustainable Finance Framework: A European Survey}, DOI={http://dx.doi.org/10.2139/ssrn.5677922},
author={Rossmann, Felix and Greitens, Jan and Knoll, Lisa}, year={2025}, collection={CFS
WP No 735} }'
chicago: 'Rossmann, Felix, Jan Greitens, and Lisa Knoll. SMEs within a Data-Driven
Sustainable Finance Framework: A European Survey. CFS WP No 735, 2025. http://dx.doi.org/10.2139/ssrn.5677922.'
ieee: 'F. Rossmann, J. Greitens, and L. Knoll, SMEs within a Data-Driven Sustainable
Finance Framework: A European Survey. 2025.'
mla: 'Rossmann, Felix, et al. SMEs within a Data-Driven Sustainable Finance Framework:
A European Survey. 2025, doi:http://dx.doi.org/10.2139/ssrn.5677922.'
short: 'F. Rossmann, J. Greitens, L. Knoll, SMEs within a Data-Driven Sustainable
Finance Framework: A European Survey, 2025.'
date_created: 2026-02-27T11:08:53Z
date_updated: 2026-02-27T11:09:07Z
department:
- _id: '36'
- _id: '121'
doi: http://dx.doi.org/10.2139/ssrn.5677922
language:
- iso: eng
publication_status: published
series_title: CFS WP No 735
status: public
title: 'SMEs within a Data-Driven Sustainable Finance Framework: A European Survey'
type: working_paper
user_id: '88789'
year: '2025'
...
---
_id: '61768'
author:
- first_name: Lisa
full_name: Knoll, Lisa
id: '88789'
last_name: Knoll
- first_name: Ulrich
full_name: Klüh, Ulrich
last_name: Klüh
- first_name: Ilias
full_name: Naji, Ilias
last_name: Naji
- first_name: Felix
full_name: Rossmann, Felix
id: '98531'
last_name: Rossmann
citation:
ama: Knoll L, Klüh U, Naji I, Rossmann F. Sustainable finance down-to-earth? Insights
from the German regional economy. Finance and Space. 2025;2(1):338-354.
doi:10.1080/2833115x.2025.2539712
apa: Knoll, L., Klüh, U., Naji, I., & Rossmann, F. (2025). Sustainable finance
down-to-earth? Insights from the German regional economy. Finance and Space,
2(1), 338–354. https://doi.org/10.1080/2833115x.2025.2539712
bibtex: '@article{Knoll_Klüh_Naji_Rossmann_2025, title={Sustainable finance down-to-earth?
Insights from the German regional economy}, volume={2}, DOI={10.1080/2833115x.2025.2539712},
number={1}, journal={Finance and Space}, publisher={Informa UK Limited}, author={Knoll,
Lisa and Klüh, Ulrich and Naji, Ilias and Rossmann, Felix}, year={2025}, pages={338–354}
}'
chicago: 'Knoll, Lisa, Ulrich Klüh, Ilias Naji, and Felix Rossmann. “Sustainable
Finance Down-to-Earth? Insights from the German Regional Economy.” Finance
and Space 2, no. 1 (2025): 338–54. https://doi.org/10.1080/2833115x.2025.2539712.'
ieee: 'L. Knoll, U. Klüh, I. Naji, and F. Rossmann, “Sustainable finance down-to-earth?
Insights from the German regional economy,” Finance and Space, vol. 2,
no. 1, pp. 338–354, 2025, doi: 10.1080/2833115x.2025.2539712.'
mla: Knoll, Lisa, et al. “Sustainable Finance Down-to-Earth? Insights from the German
Regional Economy.” Finance and Space, vol. 2, no. 1, Informa UK Limited,
2025, pp. 338–54, doi:10.1080/2833115x.2025.2539712.
short: L. Knoll, U. Klüh, I. Naji, F. Rossmann, Finance and Space 2 (2025) 338–354.
date_created: 2025-10-09T11:12:10Z
date_updated: 2025-10-09T11:13:38Z
department:
- _id: '36'
- _id: '121'
doi: 10.1080/2833115x.2025.2539712
intvolume: ' 2'
issue: '1'
language:
- iso: eng
page: 338-354
publication: Finance and Space
publication_identifier:
issn:
- 2833-115X
publication_status: published
publisher: Informa UK Limited
status: public
title: Sustainable finance down-to-earth? Insights from the German regional economy
type: journal_article
user_id: '88789'
volume: 2
year: '2025'
...
---
_id: '65510'
author:
- first_name: Felix
full_name: Rossmann, Felix
id: '98531'
last_name: Rossmann
citation:
ama: 'Rossmann F. Zum Verhältnis von nachhaltigkeitsbezogener Transparenz und strategischem
Sichtbarkeitsmanagement. In: Sturn R, Klüh U, eds. Jahrbuch Normative Und Institutionelle
Grundfragen Der Ökonomik. 22nd ed. Schattenwirtschaft – Schattenpolitik. Scheitert
die Transformation? Metropolis; 2025:15 pp.'
apa: Rossmann, F. (2025). Zum Verhältnis von nachhaltigkeitsbezogener Transparenz
und strategischem Sichtbarkeitsmanagement. In R. Sturn & U. Klüh (Eds.), Jahrbuch
Normative und institutionelle Grundfragen der Ökonomik (22nd ed., p. 15 pp.).
Metropolis.
bibtex: '@inbook{Rossmann_2025, edition={22}, series={Schattenwirtschaft – Schattenpolitik.
Scheitert die Transformation?}, title={Zum Verhältnis von nachhaltigkeitsbezogener
Transparenz und strategischem Sichtbarkeitsmanagement}, booktitle={Jahrbuch Normative
und institutionelle Grundfragen der Ökonomik}, publisher={Metropolis}, author={Rossmann,
Felix}, editor={Sturn, Richard and Klüh, Ulrich}, year={2025}, pages={15 pp.},
collection={Schattenwirtschaft – Schattenpolitik. Scheitert die Transformation?}
}'
chicago: Rossmann, Felix. “Zum Verhältnis von Nachhaltigkeitsbezogener Transparenz
Und Strategischem Sichtbarkeitsmanagement.” In Jahrbuch Normative Und Institutionelle
Grundfragen Der Ökonomik, edited by Richard Sturn and Ulrich Klüh, 22nd ed.,
15 pp. Schattenwirtschaft – Schattenpolitik. Scheitert Die Transformation? Metropolis,
2025.
ieee: F. Rossmann, “Zum Verhältnis von nachhaltigkeitsbezogener Transparenz und
strategischem Sichtbarkeitsmanagement,” in Jahrbuch Normative und institutionelle
Grundfragen der Ökonomik, 22nd ed., R. Sturn and U. Klüh, Eds. Metropolis,
2025, p. 15 pp.
mla: Rossmann, Felix. “Zum Verhältnis von Nachhaltigkeitsbezogener Transparenz Und
Strategischem Sichtbarkeitsmanagement.” Jahrbuch Normative Und Institutionelle
Grundfragen Der Ökonomik, edited by Richard Sturn and Ulrich Klüh, 22nd ed.,
Metropolis, 2025, p. 15 pp.
short: 'F. Rossmann, in: R. Sturn, U. Klüh (Eds.), Jahrbuch Normative Und Institutionelle
Grundfragen Der Ökonomik, 22nd ed., Metropolis, 2025, p. 15 pp.'
date_created: 2026-04-29T07:28:39Z
date_updated: 2026-04-29T07:28:53Z
edition: '22'
editor:
- first_name: Richard
full_name: Sturn, Richard
last_name: Sturn
- first_name: Ulrich
full_name: Klüh, Ulrich
last_name: Klüh
language:
- iso: eng
page: 15 pp.
publication: Jahrbuch Normative und institutionelle Grundfragen der Ökonomik
publication_identifier:
unknown:
- 978-3-7316-1623-8
publisher: Metropolis
series_title: Schattenwirtschaft – Schattenpolitik. Scheitert die Transformation?
status: public
title: Zum Verhältnis von nachhaltigkeitsbezogener Transparenz und strategischem Sichtbarkeitsmanagement
type: book_chapter
user_id: '98531'
year: '2025'
...