REPORT: 85% of mid-sized firms plan to boost green spending in 2025 – despite Trump's anti-climate agenda

US President Donald Trump took to the podium at the United Nations General Assembly this week, dismissing climate change as a “con job.” He also took aim at Europe's green policies, claiming that they hurt economic growth.

The Trump administration’s anti-climate agenda has had ripple effects in recent months, giving many big firms – including BP, Meta, and BlackRock – the green light to backtrack or dilute their sustainability commitments.

But not all companies are following suit. Globally, over 85% of mid-sized businesses plan to maintain or double-down on green spending over the next 12 months, according to a new report from Grant Thornton.

“These businesses view sustainability as a path to growth, not an obstacle – and certainly not a compliance box to be ticked,” says Trent Gazzaway, the consultancy’s global head of service line capability and quality.

A mid-market opportunity?

Mid-market firms – those with annual revenues between $10m and $1b – appear to see a clear link between sustainability and long-term business performance, according to the report, which surveyed over 12,000 businesses in 45 countries.

Over half of the respondents expect sustainability to boost profitability (54%) and revenues (51%), while only 2% say it won’t contribute to commercial goals.

“Lots of mid-market firms have realised that acting on sustainability creates efficiencies and attracts more customers, and is therefore more profitable in the long run. They don’t want to be left behind the rest of the market,” says Sarah Carroll Grant Thornton’s director of sustainability reporting, based in London.

Renewable energy tops priority list

Investment areas remain diverse, with renewable energy the top priority (43.5%), primarily because of its cost-effectiveness. In Europe, firms are also prioritising carbon reduction, waste management, and efficiency gains through digital technologies.

Sustainability reporting remains widespread, with 72.9% of firms continuing to report. Nearly half (44.8%) cite business benefits, and around a third (35.9%) say it aligns with their purpose. Some are pausing reporting (8%) with some abandoning it altogether (5.5%).

While the report paints a positive outlook for corporate sustainability, it must be taken with a pinch of salt: it reflects mid-market firms’ intentions, which may not always translate into action. Economic pressures, regulatory changes, or shifting priorities could also temper these commitments in the longer-term.

Nevertheless, the report highlights promising trends that run counter to geopolitical tensions and the rollback of green policies – particularly in the US, but also in Europe.

“Amid the backlash against sustainability and regulatory backtracking in some regions, you could be forgiven for thinking that companies would slow their sustainability journeys, or even abandon them,” says Gazzaway. “Yet the truth is very different for mid-market companies.”