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How SMEs may be our biggest hope for net-zero
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What significant role do small and medium-sized enterprises (SMEs) play in the global journey towards achieving net-zero emissions, particularly in the MENA region?
Globally, small and medium-sized enterprises – SMEs - make up 90% of all businesses and represent more than 50% of employment worldwide. Yet, according to 2023 research by the World Economic Forum and Bain & Company, here, in the MENA region, just 12% of SMEs have set net zero targets with even fewer - 7% - mapping out a transition strategy.
The tide is turning, however.
Through COP28, a new SME Climate Hub MENA initiative has been established to drive climate action in the private sector. In the UAE, the Abu Dhabi Chamber of Commerce recently launched a Net Zero Transition program for SMEs and the broader business sector. And, in Oman, the government is working with small and medium-sized businesses under the auspices of the National Net Zero Programme to showcase opportunities for them to engage in projects that support zero neutrality and carbon emission reduction goals.
These, and other regional programmes are a critically positive step in driving momentum for the implementation of net-zero strategies in the countdown to 2050.
As countries, governments, cities, businesses, communities and individuals, we all have a role to play in the net-zero journey.
On episode 12, our panelists will examine the net-zero transition challenges facing regional SMEs; discuss what level of support is required to accelerate action; and share positive examples to illustrate why small businesses may be our biggest hope for net zero.
Moderator Jeffrey Beyer, Founder, and Managing Director of Zest Associates, is joined remotely by Dr Saeed Alhassan, A Khalifa University Abu Dhabi professor and former director of the Gas Research Center, and founder of Manhat, Lydia Elliott, Deputy Director, Supplier Decarbonisation at the We Mean Business Coalition and Martin Reynolds, CEO and co-founder of UAE headquartered Zero Carbon Ventures.
Powered by World Future Energy Summit, the Future Energy Insights show seeks to address the biggest challenges shaping the future of energy today, both in the Middle East and around the world. Find us on social media at @WFES
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