A new ESG scoring methodology for small and medium-sized enterprises
A new ESG scoring methodology for small and medium-sized enterprises
Small and medium-sized enterprises (SMEs) are vital to economic growth and sustainability, yet most existing Environmental, Social, and Governance (ESG) scoring systems focus on large, publicly listed firms, leaving SMEs largely overlooked. This research introduces a new ESG scoring methodology specifically designed for SMEs, which addresses the challenges of limited disclosure, sector-specific materiality, and data quantifiability. Using publicly available information and expert input, we construct a questionnaire-based ESG index aligned with the Sustainability Accounting Standards Board (SASB) framework to ensure sector-specific materiality. The methodology applies advanced optimization techniques to determine indicator weights and uses multiple mapping functions to generate robust, interpretable ESG scores. The findings contribute to advancing methodologies for ESG scoring in SMEs and inform policy discussions on enhancing sustainability disclosures tailored to SMEs’ operational contexts.
ESG performance, Sustainability, optimisation, regulation, small and medium enterprises (SMEs)
Ragulskis, Tautvydas
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Darškuvienė, Valdonė
7ba8239d-c8bf-4d1a-846c-e379e1653cb7
Kizys, Renatas
9d3a6c5f-075a-44f9-a1de-32315b821978
Misiūnas, Dalius
9a581e3f-b87f-4d7c-81c9-86949d6ed84c
2 March 2026
Ragulskis, Tautvydas
b7fce7a5-e23d-4427-97da-8f8cf3600039
Darškuvienė, Valdonė
7ba8239d-c8bf-4d1a-846c-e379e1653cb7
Kizys, Renatas
9d3a6c5f-075a-44f9-a1de-32315b821978
Misiūnas, Dalius
9a581e3f-b87f-4d7c-81c9-86949d6ed84c
Ragulskis, Tautvydas, Darškuvienė, Valdonė, Kizys, Renatas and Misiūnas, Dalius
(2026)
A new ESG scoring methodology for small and medium-sized enterprises.
Annals of Operations Research.
(doi:10.1007/s10479-026-07045-9).
Abstract
Small and medium-sized enterprises (SMEs) are vital to economic growth and sustainability, yet most existing Environmental, Social, and Governance (ESG) scoring systems focus on large, publicly listed firms, leaving SMEs largely overlooked. This research introduces a new ESG scoring methodology specifically designed for SMEs, which addresses the challenges of limited disclosure, sector-specific materiality, and data quantifiability. Using publicly available information and expert input, we construct a questionnaire-based ESG index aligned with the Sustainability Accounting Standards Board (SASB) framework to ensure sector-specific materiality. The methodology applies advanced optimization techniques to determine indicator weights and uses multiple mapping functions to generate robust, interpretable ESG scores. The findings contribute to advancing methodologies for ESG scoring in SMEs and inform policy discussions on enhancing sustainability disclosures tailored to SMEs’ operational contexts.
Text
s10479-026-07045-9
- Version of Record
Text
A New ESG Scoring Methodology for SMEs - Accepted Version
More information
Accepted/In Press date: 7 January 2026
Published date: 2 March 2026
Additional Information:
Publisher Copyright:
© The Author(s) 2026.
Venue - Dates:
The 2023 International Conference on Sustainability, Environment, and Social Transition in Economics and Finance: SESTEF2023, University of Southampton, Southampton, United Kingdom, 2023-12-14 - 2023-12-16
Keywords:
ESG performance, Sustainability, optimisation, regulation, small and medium enterprises (SMEs)
Identifiers
Local EPrints ID: 510800
URI: http://eprints.soton.ac.uk/id/eprint/510800
ISSN: 0254-5330
PURE UUID: ff70aa5a-2720-441d-9220-a7fef9a7da29
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Date deposited: 22 Apr 2026 16:38
Last modified: 23 Apr 2026 02:04
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Contributors
Author:
Tautvydas Ragulskis
Author:
Valdonė Darškuvienė
Author:
Dalius Misiūnas
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