The UAE has announced plans to develop the first-ever sustainability accreditation framework specifically for micro, small and medium-sized enterprises (MSMEs) at the World Economic Forum in Davos.
The move to boost competitiveness in the global green economy, was highlighted by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, during a panel discussion titled ‘A New Trade Order: Inclusive Growth’.
He emphasised that MSMEs have a pivotal role in driving the transition toward a lower-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 customised support that reduces time, cost and resource constraints associated with environmental regulatory compliance.
"Accounting for almost 90 per cent of global businesses, MSMEs must have full access to the global trading system if our vision of a more sustainable and equitable global economy is to be realised. These enterprises are also important agents of change, with the flexibility and singularity of focus required to drive sustainability across value chains," he added.
The EcoMark certification will be based on ISO standards and will be overseen by a central body headquartered in the UAE.
It will include a full suite of resources to help MSMEs attain the EcoMark status, covering document requirement guidelines and a roadmap to progress and a standardised application process and complete eligibility criterion.
Al Zeyoudi said the announcement builds on the progress made at COP’s first-ever Trade Day held in Dubai last month, where the UAE hosted a series of critical conversations on the contribution of trade to the climate change challenge.
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