KfW Research
KfW Climate BarometerThe KfW Climate Barometer is a new business survey that represents the first and so far only representative database for the investment behavior of all German businesses – from the smallest to largest companies – on the way to climate neutrality. It is designed as an annual repeat survey and provides insights into the attitudes and activities of companies related to the implementation of the energy transition.
The business sector in Germany increased climate-positive investment by 5% in real terms to EUR 85 billion in 2023. These are the findings of the 2024 KfW Climate Barometer. This growth was driven by large enterprises. They expanded their climate investments again considerably on the previous year (+19% in real terms). At the same time, the generally higher price level, rising financing costs and the economic slowdown have put the brakes on SMEs’ investment. Climate investment activity by SMEs decreased by 10% overall on an inflation-adjusted basis last year. Even in challenging times, many enterprises continue to have climate action on their agenda, with 51% having taken climate action into account in their business strategy. Eighty per cent of large enterprises and 24% of larger SMEs aspire to become climate neutral.
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