(MENAFN- Trend News Agency)
BAKU, Azerbaijan, September 9. A conference in
Baku, Azerbaijan, is reviewing SMEs' (small and medium-sized
enterprises) transition to a green Economy and their role in
fighting climate change, Trend reports.
As known, over 90 percent of enterprises worldwide are SMEs, and
this figure makes circa 99.6 percent in Azerbaijan. They contribute
50 percent of global GDP and 70 percent of employment. Although
SMEs have a limited environmental impact, they account for 50
percent of greenhouse gas emissions and 30-60 percent of business
energy use globally. Millions of SMEs switching to a green economy
can help battle climate change.
The conference "The Role of SMEs in the Green Economy" has been
planned to once more highlight how SMEs support the battle against
climate change and the shift to a "green economy," as well as to go
over cooperatively coordinated initiatives in this field.
The event, organized by the Small and Medium Business
Development Agency (KOBİA) with the support of the Ministry of
Economy and the Ministry of Environment and Natural Resources, was
attended by heads of relevant government agencies, representatives
of international organizations and public associations of
entrepreneurs, businessmen working in various fields.
Speaking at the event, Minister of Economy Mikayil Jabbarov and
Minister of Ecology and Natural Resources, who appointed COP29
President Mukhtar Babayev, discussed the role of the "green
economy" in sustainable development. They discussed the activities
carried out within the framework of the National Priorities "Clean
Environment" and "Green Growth Country" defined by President Ilham
Aliyev, the introduction of environmentally friendly technologies,
and the upcoming tasks to increase "green" production, recycle, and
promote the rehabilitation of polluted areas.
They emphasized the growing importance and role of SMEs in
Azerbaijan's socio-economic development. SMEs make a significant
contribution to GDP growth, employment, and economic reintegration
of the liberated territories. SMEs should assert themselves in the
new era's development of a "green economy." In this direction, SMEs
are expected to apply energy-saving technologies, achieve energy
efficiency through the use of renewable energy sources, utilize
waste, reduce the amount of waste, and use environmentally friendly
materials, actively involve the private sector in social projects,
produce environmentally friendly products and services, etc. The
conference was also addressed by UN High-Level Leader on Climate
Nigar Arpadarai, KOBİA Chairman of the Board Orkhan Mammadov,
Executive Director of the Export and Investment Promotion Agency
(AZPROMO) Yusif Abdullayev and Chairman of the Board of the World
Climate Foundation Jens Nielsen.
The green transformation of SMEs is possible not only at the
national level but also at the global level, as a result of joint
actions of relevant stakeholders. Therefore, KOBIA launched a
global initiative to support the promotion of SMEs' green
transition, which was reflected in the Declaration of the Baku
Coalition on SMEs' Transition to a Green Climate. The declaration
was presented to the President of COP29 as part of the event.
The Memorandum of Understanding on cooperation in the field of
SME green transition between KOBİA and ACWA Power Azerbaijan
Renewable Energy LLC was signed at the event. The document signed
by Orkhan Mammadov, Chairman of the Board of KOBİA, and Director of
“ACWA Power Azerbaijan Renewable Energy” Salim Güven stipulates
cooperation to support the transition of small and medium-sized
businesses to a“green economy”.
Furthermore, at the conference, KOBIA was awarded a certificate
for active participation in promoting a corporate culture of
sustainable development within the framework of the UN Global
Compact. The event continued with panel sessions on“The Necessity
of SMEs' Transition to a Green Economy” and“Climate Finance and
SMEs.”
MENAFN09092024000187011040ID1108651775
Legal Disclaimer:
MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.