The United Arab Emirates has announced plans to develop the first-ever sustainability accreditation framework 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 standardizing the regulatory processes surrounding sustainability benchmarking around the world.
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 standardized 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, Switzerland, by His Excellency Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, during an 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, HE Al Zeyoudi emphasized that MSMEs have a pivotal role to play 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 customized support that reduces time, cost and resource constraints associated with environmental regulatory compliance.
HE 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 realized. 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 recognized platform will help them both find and compete in new markets around the world, and meet the growing demand for sustainable products and services.”
