While North and South America conceive of it as a pathway to competitive advantage and access to capital, Europe is turning regulation into operational efficiency; Asia‑Pacific links ESG with innovation and digitalization; and Africa prioritizes strengthening basic energy and water infrastructure to drive growth.
In this context, 85.9% of medium-sized companies say they will continue to invest in sustainability. This figure takes on additional relevance as the war in Iran disrupts oil flows through the Strait of Hormuz, which is expected to spur new talks on sustainable energy and subject carbon-intensive companies to greater scrutiny, in an environment marked by volatile oil prices.
In short, sustainability is not yet a universal language. Although this is a shared ambition on a global scale, it remains deeply conditioned by local realities. Building on our 2025 report, 'Scaling Sustainability: How the Middle-Market Strengthens Your Future Strategy', this article looks at those regional priorities and the business opportunities they generate.
Overall, middle-market firms show a strong intention to maintain or increase their investment in sustainability, which highlights the extent to which it will influence competitiveness and capital flows between regions.
North America (90.1%) and South America (94.0%) are in first position. This reflects a growing recognition of sustainability as a driver of competitive advantage and as a key element in strengthening stakeholder confidence. In both regions, sustainability is emerging as a key differentiator, and companies that continue to invest will be able to gain a clear advantage in attracting operations or new capital.
Africa (75.4%) and Asia‑Pacific (83.4%) also show significant commitment to investment, although they continue to balance their sustainability ambitions with other priorities, such as infrastructure development, digitalization and economic resilience. This momentum confirms the role of sustainability as a lever for economic transformation and long-term investment attraction.
On the other hand, Europe (82.8%) reflects a more mature regulatory environment, with many middle-market companies already subject to demanding ESG requirements. However, the focus seems to be shifting from increasing investment to optimizing and integrating existing initiatives, especially in light of the slight regulatory relief seen in the European Commission's Omnibus 2025 package. Companies that treat regulatory compliance as a strategic tool can reduce costs and, at the same time, access better financing conditions.
As Sergi Puig-Serra, partner of Audit and Non-Financial Assurance, rightly states: "Sustainability has gone from being a corporate ideal to becoming a structural axis of economic competitiveness. The Spanish middle-market is demonstrating that this practice is no longer just a reputational requirement, but a real driver of growth, efficiency and access to capital.".
These investment signals not only show ambition, but also define the strategic priorities that emerge in each region.
While renewables are the top investment priority in all regions, the remaining areas of focus on sustainability vary depending on local market conditions and societal expectations.
These differences shape both cross-border opportunities and market expectations. For example, a mid-sized technology company in Asia‑Pacific gains an advantage by demonstrating breakthroughs through auditable data and digital performance; a manufacturer in South America protects its revenues and license to operate by accelerating circular economy practices; exporters to Europe they gain in efficiency and regulatory preparation; growth-oriented North American companies turn sustainability into pricing power, investor confidence, and exit options; and companies operating in Africa boost productivity and reduce risk through basic energy and water solutions.
Understanding these particularities allows us to align business strategies with local demand and global standards, facilitating more agile decisions, reducing risks in expansion and transforming sustainability into a profitable and lasting growth engine.
The economic argument for sustainability converges on the value it can bring to the business—whether by increasing exports or reducing costs—although the form that value takes varies significantly between regions.
In North America, leaders see sustainability as a lever for growth and value creation, with high confidence in both the short and long term. Expectations of boosting exports (47.8%) and preparationfor an eventual exit (39.7%) stand out. Thislong-term vision is reflected, for example, in Texas, a state historically linked to oil and gas that today leads the production of green energy in the United States, reinforcing its resilience to fluctuations in crude oil prices, such as those currently arising from tensions in the Middle East.
Asia‑Pacific associates sustainability with innovation and access to new markets, emphasizing business transformation and supplier readiness. Companies in the region show an above-average expectation that sustainability will boost exports (43.6%).
In Europe, regulatory maturity shifts the focus from commitments to operational performance. Midsize companies turn regulatory compliance into efficiency and access to cheaper capital, highlighting cost reduction (39.5%). South America, on the other hand, balances short-term caution with strong long-term conviction, prioritising renewable energies and circularity as a way to reduce costs (48.7%) and build resilience. Africa takes a pragmatic approach, where trade benefits grow as key enablers expand access to capital and markets, with a strong belief (53.0%) in the long-term returns of these investments.
For companies with growth ambitions, these goals should act as a roadmap for investment. Where exports are prioritized—especially in North America and Asia-Pacific—the immediate value lies in access to more markets and customers, which requires investing in verifiable product data and supply chain traceability.
When the focus is on exit readiness (North America), valuation is key: using sustainability to reduce friction in due diligence processes through international reporting standards, clearer disclosures, reduced energy exposure, and credible roadmaps.
In the markets where it leads in cost reduction (Europe and South America), the objective is to maximise margins: energy efficiency, waste reduction and digitalisation of processes to generate immediate savings and access more competitive financing.
In more cautious environments, such as certain parts of Africa, value is built through operational resilience and investor attractiveness, supporting core energy and water solutions and bolstering data quality to reduce risks and increase transparency.
The value exists in all regions, but it is activated in different ways. The most successful middle-market companies adapt their strategies to local realities without giving up a global standard of data, disclosure, and execution.
The data conveys a clear message: while there is a shared global ambition to scale sustainability, the paths to achieve it are deeply local.
José Manuel López, Audit Partner, points out: "The commitment to sustainability has been consolidated as a strategic axis of companies in the national middle-market, which understand that this type of initiative is decisive to maintain their competitiveness and efficiency in the market."
Each region brings its own context, defined by regulation, infrastructure, culture, and market maturity. For some, sustainability is a direct path to innovation and growth; for others, a tool for resilience, inclusion or efficiency. In many cases, it is the combination of all these factors.
Success lies in adapting sustainability strategies to the regional context, aligning ambition with reality to unlock long-term value. For medium-sized companies, this means going beyond a one-size-fits-all approach and embracing the diversity of sustainability processes on a global scale. Those who act now, adjusting their strategy to regional particularities, will advance faster, reduce risks and secure their position in increasingly demanding global markets.
To dive deeper into the mid-market sustainable path and learn five key recommendations on how to maximize the benefits of sustainability, we invite you to read our report 'Scaling sustainability: How the middle-market strengthens its strategy for the future'.
En un año marcado por la inestabilidad política y los cambios regulatorios, era esperable que las empresas disminuyeran su apuesta por la sostenibilidad. Sin embargo, los datos de nuestro International Business Report (IBR) reflejan una realidad totalmente diferente.