KOBİA, SEBRAE – ITC Signs First-Of-Its-Kind Declaration To Facilitate The Green Transition Of Small Businesses At COP29

(MENAFN- Caribbean News Global) BAKU / SWITZERLAND, (ITC News) – The national small business agencies of Azerbaijan and Brazil and the UN small business agency sign a first-of-its-kind declaration to support small and medium-sized enterprises (SMEs) to make the green transition at the UN Climate Change conference (COP29) in Baku. The organizations also sign agreements to mark their partnership in establishing the small business agenda in the global climate context.

The International Trade Centre (ITC), the Brazilian Micro and Small Enterprise Support Service (SEBRAE) and the Small and Medium Business Development Agency (KOBİA) of the Republic of Azerbaijan today signed the Joint Declaration on Baku Climate Coalition for SMEs Green Transition, inviting other international institutions and organizations to support the Declaration.

The SME Declaration – the first of its kind – would help establish small businesses as a key group to engage with in advancing the green transition, on the road to COP30 in Brazil and beyond.

The Declaration calls for global collaboration to support small businesses in their shift to sustainable business models. Small businesses, vital to global economic growth, face barriers in accessing finance, technology and knowledge. The Coalition commits to raising awareness, enhancing capacity building, improving access to green finance and fostering innovation to help small businesses adopt sustainable practices. It emphasizes South-South cooperation and bioeconomy solutions, aiming to integrate small businesses into green supply chains and facilitate their transition to net-zero emissions.

The document was signed in the Blue Zone of the COP29 venue by Pamela Coke-Hamilton , ITC executive director; Orkhan Mammadov, chairman of the management board of the KOBİA; and Decio Lima, president of SEBRAE. The Declaration was initiated by KOBİA.

Strengthening partnerships

The three organizations – KOBİA, SEBRAE and ITC – signed a term of commitment to cooperate to achieve sustainable and inclusive economic development as outlined in the UN 2030 Development Agenda and to facilitate the low-carbon transition of SMEs.

KOBİA and ITC signed a letter of intent to support the green transition of SMEs on issues arising from the Declaration, as well as on the implementation of activities related to the development of SMEs.

Orkhan Mammadov, chairman of the management board of the KOBİA, said:

“The green transition of SMEs promotes sustainable development by increasing their competitiveness and access to new markets. We believe that the Declaration initiated by the KOBİA will contribute to facilitate the green transition of the SMEs globally, and ultimately to the formation of a greener future. The support of ITC and SEBRAE is particularly important in promoting the Declaration. The trilateral cooperation established in line with the implementation of the Declaration will also allow Azerbaijani SMEs to benefit from the experience of relevant organizations. The signing of above-mentioned documents that will support the facilitation of the green transition of the SMEs within COP29 is particularly significant and once again demonstrates Azerbaijan's commitment to environmental sustainability.”

Pamela Coke-Hamilton, executive director of the International Trade Centre, said:

“Small businesses form the backbone of most economies and the bulk of suppliers along global supply chains, so their action – or inaction – when it comes to climate change matters. We look forward to working with KOBİA and SEBRAE to highlight the perspectives and pain points of small businesses of developing countries in the climate context, and to equipping them to act, so they can drive the green transition.”

Decio Lima, president of SEBRAE, said:

“Small businesses are essential to foster opportunities not only in Brazil, but around the world. In 2023, out of ten jobs created in our country, eight came from micro and small companies. This year, we are the second country in the world to receive international investments, which confirms how the Brazilian economy is on the right track. Innovation, sustainability and inclusion are concepts that have no way back. Therefore, the green transition will only happen if small businesses are contemplated in the value chain. We are ready for COP 30.”

The post KOBİA, SEBRAE – ITC signs first-of-its-kind declaration to facilitate the green transition of small businesses at COP29 appeared first on Caribbean News Global .

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