January 17, 2024
2 mins read

UAE launches green accreditation framework for MSMEs

Al Zeyoudi emphasised that MSMEs have a pivotal role in driving the transition toward a lower-carbon economy….reports Asian Lite News

The UAE has announced plans to develop the first-ever sustainability accreditation framework explicitly for micro, small and medium-sized enterprises (MSMEs). EcoMark Global Accreditation has been designed to boost the competitiveness of MSMEs in the global green economy by streamlining and standardising the regulatory processes surrounding sustainability benchmarking worldwide.

The EcoMark certification, which is based on ISO standards and digitally enabled, will include a full suite of resources to help MSMEs attain EcoMark status, covering document requirement guidelines and a roadmap to progress from basic to advanced levels of sustainability, and a standardised application process and complete eligibility criterion for accreditors in the participating countries. The framework will be overseen by a central body headquartered in the UAE.

The initiative was announced at the World Economic Forum annual meeting in Davos by Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade, during a panel discussion titled ‘A New Trade Order: Inclusive Growth’.

The panel, which gathered ministers, policymakers, and academics to explore means to better integrate LDCs, MSMEs, and female and youth-led businesses into global trade, highlighted the need to help emerging enterprises keep pace with increasing consumer demand for products and services that comply with green standards.

Launching the initiative, Al Zeyoudi 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.

Al Zeyoudi said, “Accounting for almost 90 percent 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.

The development of the EcoMark Global Accreditation as an accessible and universally recognised platform will help them both find and compete in new markets around the world, and meet the growing demand for sustainable products and services.”

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. As Chair of the WTO’s 13th Ministerial Conference (MC13) in Abu Dhabi in February, he said EcoMark underlines the UAE’s commitment to multilateralism and the desire to deliver full and equal access to the global trading system.

The World Economic Forum Annual Meeting 2024 in Davos is taking place under the theme “Rebuilding Trust” and has brought together government and business leaders to engage in constructive, forward-looking dialogues and help find solutions through public-private cooperation.

ALSO READ: World Bank Predicts 3.8% Growth for UAE by 2025

Previous Story

Noura Al Kaabi Stresses Women’s Role in Diplomacy

Next Story

Education Minister highlights AI’s role in transforming education

Latest from -Top News

Macron Eyes UK Shift on Palestine

While both France and the UK agree in principle on recognising a Palestinian state, there are significant differences over the timing and political conditions…reports Asian Lite News French President Emmanuel Macron is

‘Global firms profiting from Gaza genocide’

Report by Francesca Albanese singles out companies such as Palantir and calls for prosecutions…reports Asian Lite News The UN special rapporteur on human rights in the occupied Palestinian territories has called for

Mamdani: South Asian Pride or Parental Pressure?

For millions, Mamdani’s rise symbolizes both unprecedented representation and a new benchmark for parental expectations. The question now echoing across continents is whether this is a moment of collective pride or another

Texas floods leave at least 51 dead

The flooding in Kerr County killed at least 43 people, including 15 children, and at least eight people died in nearby counties…reports Asian Lite News Rescuers scoured a devastated central Texas landscape
Go toTop

Don't Miss

DEWA bags two awards for its green hydrogen project

This was part of the Hydrogen Future Awards 2023, organised

NKN Media Unleashes Spectacular Events, Expansions in UAE

The initiatives reaffirm NKN Media’s commitment to delivering exceptional media