The United Arab Emirates has announced plans to develop the first sustainability accreditation framework explicitly for micro, small and medium enterprises (MSMEs).
EcoMark Global Accreditation has been designed to boost the competitiveness of MSMEs in the global green economy by streamlining and standardizing regulatory processes surrounding sustainability benchmarking around the world.
He ecobrand The certification, which is based on ISO standards and is digitally enabled, will include a comprehensive set of resources to help MSMEs achieve ecobrand status, covering document requirement guidelines and a roadmap for progressing from basic to advanced levels of sustainability, and a standardized application process and comprehensive eligibility criteria for accreditors in participating countries. The framework will be overseen by a central body based in the United Arab Emirates.
The initiative was announced in the World Economic Forum annual meeting in Davos Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Tradeduring a roundtable titled ‘A new business order: inclusive growth’.
The panel, which brought together ministers, policymakers and academics to explore means to better integrate LDCs, MSMEs and women- and youth-led businesses into global trade, highlighted the need to help startups follow the pace of growing consumer demand for products and services that meet ecological standards.
When launching the initiative, Al Zeyoudi highlighted that MSMEs play a fundamental role in driving the transition to a low-carbon economy. However, the contribution of MSMEs, such as those run and operated by underrepresented groups, including women and youth, can only be unlocked through targeted and tailored support that reduces the time, cost and resource constraints associated with meeting the environmental regulations.
Al Zeyoudi saying,
“MSMEs, which represent almost 90 percent of global businesses, must have full access to the global trading system if we are to realize our vision of a more sustainable and equitable global economy. These companies are also important agents of change, with the flexibility and uniqueness of approach necessary to drive sustainability across all value chains.
“Developing EcoMark Global Accreditation as an accessible and universally recognized platform will help them find and compete in new markets around the world and meet the growing demand for sustainable products and services.”
Al Zeyoudi He said the announcement builds on progress made at the first COP Trade Day held in Dubai last month, where the United Arab Emirates hosted a series of critical conversations on the contribution of trade to the challenge of climate change. As Chairman of the 13th WTO Ministerial Conference (MC13) in Abu Dhabi in February, he said ecobrand underlines the UAE’s commitment to multilateralism and desire to provide full and equal access to the global trading system.
He World Economic Forum Annual Meeting 2024 in Davos is being held under the theme “Rebuilding Trust” and has brought together government and business leaders to engage in constructive, forward-thinking dialogues and help find solutions through public-private cooperation.
News source: Emirates News Agency