The United Arab Emirates (UAE) has announced plans to develop world’s first sustainability accreditation framework explicitly for micro, small and medium-sized enterprises (MSMEs) this week at the World Economic Forum annual meeting in Davos, Switzerland.
Dubbed the EcoMark Global Accreditation, the framework will streamline and standardise the regulatory processes surrounding sustainability benchmarking around the world, with the aim of boosting the competitiveness of MSMEs in the global green economy.
Based on ISO standards, the accreditation, which is digitally enabled, will include a full suite of resources to help MSMEs attain EcoMark status.
This includes:
- Covering document requirement guidelines,
- A Roadmap to advance from basic to advanced levels of sustainability,
- A standardised 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 announcement of the green accreditation came during a panel discussion at Davos titled ‘A New Trade Order: Inclusive Growth.”
Launching the initiative, His Excellency Dr Thani bin Ahmed Al Zeyoudi, UAE Minister of State for Foreign Trade, 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.”