Irish businesses eyeing up new commercial opportunities in sustainability, as PTSB launches new Sustainability Strategy

• New “Reflecting Business” research published today as PTSB launches new three-year Sustainability Strategy
• 78% of Irish businesses see the sustainability market as a commercial opportunity in the coming years
• 92% of Irish businesses say their customers are interested in sustainable products and services
• Research also reveals cautious optimism among Irish businesses despite rising costs and global economic uncertainty, with 98% of business predicting they will grow or remain at their current level over the next 12 months

The majority of Irish businesses are eyeing up new commercial opportunities in sustainability, in areas such as energy efficiency, climate technology, circular economy, renewable energy and organic food production, according to new research published by PTSB today.

PTSB’s “Reflecting Business” report shows more and more Irish businesses see the benefits of sustainability initiatives for both their commercial and their environmental benefit.

The research found:

• 78% of Irish businesses see the sustainability market as a major growth opportunity to win more customers and increase revenues
• 92% say their customers are interested in sustainable products and services
• 74% say they have supported customers in making more sustainable choices, or plan to do so
• 73% say they have engaged with suppliers to source more sustainable goods or services, or plan to do so
• 80% are interested in Impact Lending, where loans are offered to businesses on the basis of providing a positive environmental or social impact

Businesses feeling confident despite headwinds

The research also surveyed business attitudes towards the current economic climate and their future prospects.

• Despite rising costs and global economic uncertainty, the research found cautious levels of optimism among businesses, with 98% of businesses expecting to grow or remain the same over the next 12 months (45% grow, 53% remain the same, 2% expect to decline)
• 64% of businesses feel Ireland’s economic situation will remain the same over that period; 24% feel it will improve but only 8% feel it will get worse
• Increased cost of goods and global economic turbulence are seen as the biggest challenges to growth that face businesses, with 36% citing increased cost of goods as an issue and 35% citing global economic turbulence
• Despite these headwinds, 80% of businesses feel it is likely or somewhat likely that they will invest further in their business over the next 12 months, with 20% saying they are not likely to
• Developing new products and services (cited by 34%) and entering new markets (cited by 30%) are seen as the biggest opportunities for growth

PTSB Sustainability Strategy

The ”Reflecting Business” research published today coincides with the launch of PTSB’s new Sustainability Strategy, covering the period 2025-2027.

The Bank has refreshed its strategy in response to evolving market conditions and to reinforce its commitment to long-term sustainable growth. The new strategy focuses on channelling investment and directing impact towards areas that enhance societal wellbeing.

These include:

• A specific focus on providing finance to SMEs that have an environmental and social impact
• Expanding supports for personal customers through sustainable products and services
• Enhancing financial literacy and financial wellbeing
• Reducing carbon emissions in line with Science Based Targets
• Investing in local community initiatives and advocating for social inclusion, such as PTSB’s Community Funding Programme and the Bank’s partnership with AsIAm, Ireland’s Autism Charity, and becoming the first bank in Ireland to have autism-friendly accredited branches

Leontia Fannin, PTSB’s Chief Sustainability and Corporate Affairs Officer said:

“Our Reflecting Business research shows that more and more Irish businesses are identifying the commercial opportunities that sustainability can bring. Customers are changing their buying habits to become more sustainable and businesses are increasingly seeing the benefits of reflecting this shift, enhancing both their own offering and how they source their supplies.  

By embracing sustainability, businesses are changing their behaviours, not just for the environmental and societal benefits this can bring, but for the cost efficiencies and commercial benefits too. PTSB’s refreshed Sustainability Strategy shows that we too are part of this shift. Our strategy will make us even more effective at focusing on areas where we can deliver real impact, supporting our customers through the green transition, strengthening social inclusion, and embedding sustainability across every aspect of our business.”

Sean Farrell, PTSB’s Head of Business Banking said:

“The commercial case for sustainability is growing. Businesses have identified the importance that existing and potential customers are placing on sustainability, and they are reacting accordingly.

Our Reflecting Business research confirms that Irish businesses recognise the competitive and strategic advantage of embedding sustainability into their operations. This reflects our own experience, with 23% of our new SME lending in 2024 to businesses that have an environmental or social impact. Businesses who invest in sustainability are also investing in their growth potential by lowering their energy usage, transport costs and by reducing waste.   

As a significant and growing player in the Business Banking market, we are here to help them through our people, products and services and we will continue to evolve our business customer proposition to maximise the support we can provide.”

PTSB Customer Alan McCann, Managing Director of Morning Fresh, said:

“At Morning Fresh, our goal is to lead the way in sustainable food production. Through investment in advanced growing technologies, we’re not just boosting our competitiveness and opportunities for commercial growth — we’re transforming the way fresh produce is grown.

From harvesting rainwater and eliminating herbicide use to fully recycling our feed, every step we take is aimed at reducing environmental impact, driving innovation, and creating the best possible environment for our team. These sustainability efforts are at the heart of our mission and essential to building a more responsible, future-focused business. I’m delighted to see this is such an area of focus for PTSB in supporting businesses like mine as they launch their new Sustainability Strategy.”

For the full Reflecting Business research findings, click here.

For more information on our Sustainability Strategy click here.

Notes to Editor:

• PTSB’s findings follow research published recently by the Sustainable Energy Authority of Ireland, which said fulfilling Ireland’s energy transition could result in economic opportunities totaling up to €19 billion of capital expenditure per year by 2030.
• This survey has a sample size of 408 SME businesses based in the Republic of Ireland. The study was conducted through computer assisted telephone interviewing (CATI) using SME database lists across a mix of industries to contact target respondents. The telephone interviews took place between the 10th April – 6th May 2025.