COP29 can ensure SMEs thrive in the net-zero transition – here’s how

The transition to a just, resilient, net-zero future is not possible without small and medium-sized businesses, known as SMEs. They are the engine of today’s economy and the backbone of global supply chains, accounting for about 90% of all businesses and around 70% of jobs worldwide. Small businesses will play a vital role in creating a just transition that delivers equitable human and economic development and builds the foundations of the green global economy.

SMEs are disproportionately vulnerable to the impacts of severe weather, with two-thirds of SMEs in emerging markets reporting they have already been affected by climate change. With a more local customer, employee and supplier base, smaller businesses face a heightened risk of shutting down during climate-related disasters.

The concerns and experiences of SMEs must be represented in discussions at COP29 in Baku, Azerbaijan if businesses are to play their full part in reducing emissions, while continuing to provide jobs and prosperity.

Smaller companies can have a central role in shaping and building a new economy, and withstand increasing disruption from climate impacts, but to do so, they need capacity building, technical support and increased access to finance and incentives provided by customers, suppliers or governments.

More: https://www.edie.net/cop29-can-ensure-smes-thrive-in-the-net-zero-transition-heres-how/