Navigating climate change: Climate change awareness and strategies in micro, small, and medium-sized enterprises in a developing economy

PLOS One | https://doi.org/10.1371/journal.pone.0327165 July 2, 2025 23 / 26 the decision-making processes through which firms select and implement specific climate change strategies and pursue carbon neutrality goals. Future research could address this gap by conducting case-based analyses of ventures success- fully implementing carbon reduction initiatives and climate-related plans and programs. Such an approach could help identify commonalities and best practices across economic sectors, informing the development of more effective corporate sustainability programs. Additionally, this could facilitate the creation of novel frameworks to guide policy development in this area. Sixth, while our empirical design identified key insights based on patterns and commonalities within the business com- munity, it did not account for the financial, organizational, and operational resources and capabilities of each venture when endorsing specific CC-related strategies and goals. Future research could build on our findings by developing and test- ing hypotheses that focus on specific groups of MSMEs within the same economic sector, examining how venture-level characteristics either constrain or facilitate the strategic adoption of CC initiatives. Additionally, future studies could explore potential moderation and mediation effects influencing firms’ engagement in CC-related strategies. Finally, our research builds on existing theoretical insights into organizational awareness to shape our analysis. Given the various determinants

influencing CC awareness and strategies, future research could develop new theories that account for the heterogeneity observed across venture size and economic sectors, offering a more nuanced understanding of CC awareness and strate- gic responses. Conclusion This study reveals significant gaps in CC awareness and strategic implementation among MSMEs, yet it also highlights a growing recognition of the direct impact CC has on their operations. By comparing MSMEs with smaller ventures, we provide a nuanced understanding of the varied challenges and opportunities each faces; underscoring the need for targeted educational initiatives, supportive public policies, and strategic partnerships to enhance their capacity to mitigate environmental impact and successfully adapt to CC. Future research should continue to explore these areas, offering deeper insights into effective strategies and interventions that can foster a more sustainable and resilient MSMEs global community. Ultimately, promoting sustainability within MSMEs is not only essential for environmental preservation but also for ensuring long-term economic growth and stability. Supporting information S1 Table. Descriptive statistics. (DOCX) S2 Table. Pairwise correlation and variance inflation factor. (DOCX) Author contributions Conceptualization: Julián Andrés Díaz Tautiva, Sebastián Barros, Antonio Lecuna, Camila Barragan-Rodriguez. Data curation: Julián Andrés Díaz Tautiva, Sebastián Barros, Antonio Lecuna, Camila Barragan-Rodriguez.

Formal analysis: Julián Andrés Díaz Tautiva, Sebastián Barros, Antonio Lecuna, Camila Barragan-Rodriguez. Funding acquisition: Julián Andrés Díaz Tautiva, Sebastián Barros, Antonio Lecuna, Camila Barragan-Rodriguez. Investigation: Julián Andrés Díaz Tautiva, Sebastián Barros, Antonio Lecuna, Camila Barragan-Rodriguez. Methodology: Julián Andrés Díaz Tautiva, Sebastián Barros, Antonio Lecuna, Camila Barragan-Rodriguez. Project administration: Julián Andrés Díaz Tautiva, Sebastián Barros, Antonio Lecuna, Camila Barragan-Rodriguez. Resources: Julián Andrés Díaz Tautiva, Sebastián Barros, Antonio Lecuna, Camila Barragan-Rodriguez.