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Green growth provides a means by which economic, environmental and social goals can be simultaneously achieved. It presents an opportunity to make existing industries more sustainable while at the same time encouraging new industries and a diversified economy.
Achieving a green and inclusive economy will be critical for tackling climate change, biodiversity loss, and pollution. SMEs will play an indispensable role in achieving this economic transformation due to the large share of global business they represent. Accounting for about 99% of enterprises in OECD countries, SMEs also employ a significant share of people, especially in low-income countries, where they contribute to, on average, 78% of employment compared to 65% in high-income countries.
Due to their large numbers, the very diverse nature of their businesses and their typically small number of employees, the barriers to greening the operations of SMEs are generally more complicated to overcome than those for larger companies.
Created a Post in Industry and Entrepreneurship
Many companies are committing to net-zero emissions by 2050, but are these commitments all in line with limiting warming to 1.5°C? The Science Based Targets initiative has launched a process to establish a standard for net-zero SBTs.
How to unlock the potential of women-led SMEs for banks?
New IFC study examines lending models to give banks a women-focused market and emphasizes the need of non-financial services. Providing nonfinancial services (NFS) alongside finance can help financial institutions to tap into the enormous potential of women-led enterprises. This study examines the benefits to banks of integrating NFS into lending. This analysis of five SME banking models, in addition to previously published case studies and other resources, found that well-integrated NFS offers for WSMEs yield positive returns on investment (ROI) within one to two years.
There is a huge challenge ahead of us to reach net-zero emissions by 2050 in order to keep global warming to 1.5°C. The good news is that companies are coming together all around the world to try tackle this challenge with a unified front. A great example of this type of collaboration is the UN Climate Change Fashion Charter. And they've just launched the first Playbook for Climate Action, developed by the Fashion Industry Charter Signatories for the brands, suppliers and retailers in the fashion industry.