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 6 / 26 around 4.1 percent of Colombia’s total carbon emissions (approximately 9.91 million tons of greenhouse gases), with nearly 15 percent of these emissions originating from ventures in the secondary economic sector [51]. Consequently, this contextual setting provides a robust foundation for addressing our research questions and objectives. Sample and survey We partnered with the largest business association in Colombia to analyze firm-level data collected through a phone survey conducted as part of the Industrial Decarbonization Project. The anonymized dataset was provided to the research team in February 2024. An independent company surveyed between May and August 2023, employing a stratified prob- abilistic sampling method to ensure a 5 percent margin of error and a 95 percent confidence level. The survey targeted key respondents within the firms—business owners, C-level executives, and sustainability managers—possessing rele- vant knowledge of environmental and sustainability-related organizational strategies and practices. Data collection was conducted via phone interviews using a structured questionnaire. Respondents provided verbal informed consent, which was recorded. The selection of this survey method was based on three interrelated factors: (1) an increased likelihood of response from key participants compared to web-based surveys, considering the cultural characteristics of Colombian

respondents; (2) budget constraints associated with implementing the Industrial Decarbonization Project; and (3) the opportunity to clarify complex concepts in real time if respondents had doubts. Previous research highlights the advan- tages of this sampling approach, emphasizing its accessibility across diverse geographical and individual contexts and the potential for respondents to feel more comfortable describing their perspectives compared to face-to-face or web-based surveys [52]. The data collection process strictly adhered to Colombian data protection regulations, including Law 1581 of 2012 and Law 1266 of 2008, and complied with the ethical principles outlined in the Declaration of Helsinki. The survey focused on three core components. First, firmographic data for each respondent, including the type of eco- nomic activity—whether the respondent was a juridical entity (i.e., formal organizations registered under Colombian busi- ness laws) or a natural person engaged in formal entrepreneurial activities. Additionally, information was collected on the economic sector, industry, and organizational size (measured by sales for juridical entities and by the number of employ- ees for natural persons). Second, respondents provided insights on their knowledge and perceptions of CC and decar- bonization, particularly their awareness of specific CC-related concepts. Respondents were also asked to identify entities within their value chain perceived to be at risk due to CC. Further questions focused on their awareness of CC strategies,

distinguishing between those endorsed at the corporate level and those applied operationally. Finally, respondents shared their perceptions and awareness regarding carbon neutrality within their ventures. This section comprised three ele- ments: the timeline in which they anticipated achieving carbon neutrality; their awareness of strategies at both corporate and operational levels aimed at attaining this sustainability goal and whether they had implemented any carbon-related practices or programs, and; lastly, factors that might influence their awareness of carbon neutrality, including leadership diversity, perceived pressure from key stakeholders (such as customers and investors), and awareness of the carbon mar- ket at the national level. Variables and measures In line with our research paradigm, we focused on policy-relevant variables related to CC and carbon neutrality. First, we conceptualized CC awareness as respondents’ perceived knowledge of key concepts, including “Global Warming,” “Climate Change,” “Greenhouse Gas Mitigation,” “Adaptation to Climate Change Impact,” “Offsetting of Greenhouse Gas Emissions,” “Carbon Neutrality,” and “Decarbonization.” Respondents rated their knowledge of these concepts using a 5-point Likert scale, ranging from “Low Knowledge” to “High Knowledge.” Additionally, we measured perceived risk associated with CC based on three potential impacts: direct impact on the firm itself, external impact on the supply chain (both on suppliers and customers), or no impact from CC at all. Additionally, we assessed strategic awareness of CC by

examining whether respondents were knowledgeable about strategies at both the corporate and operational levels. At the