The SME Climate Hub made a significant move on Thursday by launching a dedicated landing page in India as part of its mission to empower micro, small, and medium-sized enterprises (MSMEs) in the region to take meaningful climate action. This initiative is made possible through the support of the Centre for Responsible Business (CRB) and the Aspen Network of Development Entrepreneurs (ANDE).
The SME Climate Hub operates as part of the United Nations Race to Zero campaign, aimed at simplifying and facilitating the decarbonization process for MSMEs worldwide.
One of the key aspects of this initiative is that MSMEs globally commit to climate action and actively measure, report, and reduce their emissions. The SME Climate Hub, which is available virtually, offers a range of tools and resources to assist MSMEs in their efforts, including:
- Business Carbon Calculator: This tool helps MSMEs identify the main sources of emissions within their business operations, enabling them to prioritize areas for emission reduction.
- Climate Fit Education Course: This course consists of short, easily digestible modules designed as an introductory primer for MSMEs looking to engage in climate action.
- Reporting Tool: Signatories of the SME Climate Hub can use this tool to report their emissions data annually. This reporting helps them track their progress toward their climate commitments and communicate their actions to crucial stakeholders such as consumers, buyers, and investors.
The MSME sector plays a pivotal role in India’s economy, contributing approximately 30% of the country’s GDP, accounting for 49% of exports, and employing a staggering 110 million workers. Therefore, it is vital for Indian MSMEs to actively contribute to the nation’s net-zero targets. While Indian MSMEs are increasingly recognizing the importance of sustainability and taking proactive steps for climate action, they require support in the form of knowledge and tools to facilitate concrete actions toward collective net-zero goals.
Earlier this year, the SME Climate Hub collaborated with CRB to launch a pilot project aimed at raising awareness and building capacity among Indian MSMEs across various sectors and states. This initiative represents a critical step in India’s journey towards a sustainable and climate-resilient future.
One of the primary activities undertaken by the SME Climate Hub is the organization of capacity-building workshops. These workshops aim to educate Micro, Small, and Medium Enterprises (MSMEs) in India about climate action and their role in mitigating climate change.
Additionally, the SME Climate Hub directly engages with Indian MSMEs to identify the gaps and opportunities in enhancing the resources and capabilities of the initiative, especially in the context of the region.
The Initiative also focuses on creating case studies that highlight industry-specific best practices, particularly in collaboration with Indian MSMEs. These case studies serve as valuable resources for peer learning within the business community.