Page 389 - MOE ENGLISH PR REPORT - JANUARY 2024

1/18/24, 3:52 PM UAE Unveils MSMEs-Focused 'EcoMark' Green Accreditation Framework
at Davos, Switzerland, state-run Emirates News Agency (WAM) reported.

EcoMark has been conceived with the aim of enhancing the competitiveness of MSMEs in
the global green economy by streamlining and standardizing the regulatory processes

regarding global sustainability benchmarking.

The certification will be based on the International Organization for Standardization (ISO)

standards, digitally enabled, and overseen by a UAE-based central body. It will outline the

guidelines to achieve different levels of sustainability, ranging from basic to advanced

levels.

While unveiling the initiative, Al Zayoudi said that MSMEs have a key role to play in the
transition towards a lower-carbon economy. However, their contribution, especially of the

ones run by women and youth, can only be unlocked by offering targeted and customized

support, which reduces limitations pertaining to time, cost, and resources associated with

environmental regulatory compliance.

Crucial quote

“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,” said Al Zeyoudi, adding that “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.”

Big numbers

MSMEs account for 90% of worldwide businesses, 60%-70% of global employment, and

50% of the global gross domestic product (GDP), according to data released by the United

Nations in June 2023.

Davos 2024

The announcement came at the WEF’s annual meeting at Davos, which is being held from
January 15 to 19, 2024. 'Creating Growth and Jobs for a New Era’ has been defined as a key

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