The United Arab Emirates (UAE) has revealed plans to establish a pioneering sustainability accreditation framework tailored specifically for micro, small, and medium-sized enterprises (MSMEs), as reported by Emirates News Agency. This initiative, known as EcoMark Global Accreditation, aims to enhance the competitiveness of MSMEs in the global green economy by simplifying and standardizing regulatory processes related to sustainability benchmarking worldwide.
The EcoMark certification, aligned with ISO standards and featuring digital enablement, encompasses a comprehensive set of resources designed to guide MSMEs in achieving EcoMark status. These resources include guidelines for document requirements, a roadmap for progression from basic to advanced sustainability levels, and a standardized application process along with complete eligibility criteria for accreditors across participating countries. Oversight of the framework will be centralized, with the main headquarters situated in the UAE.
The announcement was made by Dr. Thani bin Ahmed Al Zeyoudi, the Minister of State for Foreign Trade, at the World Economic Forum annual meeting in Davos. During a panel discussion titled ‘A New Trade Order: Inclusive Growth,’ attended by ministers, policymakers, and academics, the emphasis was placed on finding ways to better integrate least developed countries (LDCs), MSMEs, and businesses led by women and youth into the global trade landscape. The discussion highlighted the imperative to assist emerging enterprises in meeting the rising consumer demand for environmentally compliant products and services.
Dr. Al Zeyoudi underscored the pivotal role of MSMEs in steering the transition towards a lower-carbon economy. He stressed that to unlock the potential contribution of MSMEs, especially those operated by underrepresented groups, targeted and customized support is essential to alleviate time, cost, and resource constraints associated with environmental regulatory compliance.
Dr. Al Zeyoudi stated, “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 is positioned as an accessible and universally recognized platform. It aims to enable MSMEs to both explore and compete in new markets globally, meeting the increasing demand for sustainable products and services.
Dr. Al Zeyoudi highlighted that this announcement builds on the progress made at COP’s first-ever Trade Day held in Dubai last month, where the UAE hosted crucial discussions on the role of trade in addressing the challenge of climate change. As the Chair of the WTO’s 13th Ministerial Conference (MC13) in Abu Dhabi in February, he emphasized that EcoMark underscores the UAE’s commitment to multilateralism and the aspiration to provide complete and equal access to the global trading system.
The World Economic Forum Annual Meeting 2024 in Davos is themed “Rebuilding Trust” and has convened government and business leaders to engage in constructive, forward-looking dialogues, seeking solutions through public-private cooperation.