Advertisementspot_img
Sunday, July 14, 2024

Delivering Stories of Progress

Advertisementspot_img

DTI, GRI partner to encourage MSMEs adopt sustainability 

Latest article

Advertisement - PS02barkero developers premium website

THEPHILBIZNEWS Partner Hotels

Hotel Okura Manila
Hotel 101
The Manor at Camp John Hay
Novotel Manila
Taal Vista Hotel
Advertisement - PS02barkero developers premium website

The Department of Trade and Industry (DTI) and Global Reporting Initiative (GRI) has signed a Memorandum of Understanding (MoU) to train micro, small and medium enterprises (MSMEs) in sustainability best practices, and help them report on their sustainability impacts.  

Through this collaboration, GRI and DTI will provide a series of capacity building sessions on sustainability reporting for MSMEs. They will also convene policy dialogues and roundtable discussions with small businesses on the topic of sustainability in areas such as supply chain management and sustainability procurement. 

MSMEs are integral to the economic development and growth of the ASEAN Member States (AMS) as they make up most firms in the region. With around 70 million enterprises in ASEAN, MSMEs contribute 85% to employment, 44.8% to GDP and 18% to national exports of AMS. As sustainability and green economic growth are moving to the top of the national agenda of the AMS, the demand for MSME to adopt sustainable practices is coming from all fronts. In the ASEAN region, GRI supported these enterprises by providing free training on sustainability in Indonesia and Vietnam of which through the training partners, jointly reached about 4700 MSMEs. In the Philippines, engagements with start-ups to support the publication of their first sustainability reports were also facilitated. 

Eelco van der Enden, CEO of GRI, commented: “We are delighted to sign this MoU with DTI to help MSMEs in the Philippines adopt sustainable practices. These enterprises face size-related resource constraints, skill deficits and knowledge limitations when it comes to sustainability. Many are unaware of the economic benefits of sustainability transition and mistakenly believe that adopting greener practices is technically complex and costly. Our program with DTI aims to address these challenges and help small businesses in the Philippines reap the economic benefits from the use of more efficient and sustainable resources and production techniques, access sustainable finance, meet stakeholder demand for sustainable and responsible businesses, and comply with the increasing sustainability regulatory requirements.” 

“With this effort to complement our existing Green Economic Development (GED) Program, this initiative aims to uplift MSMEs, elevating their commitment to sustainability and guiding their operations along the path of environmental, social, and governance principles. In doing so, we cultivate enterprises primed to attract green finance, tap wider market opportunities, and contribute to the virtuous cycle of a circular economy. Climate action is also a priority of the government as we continuously achieve economic advancement,” Undersecretary Blesila Lantayona of the DTI-Regional Operations Group said. 

The joint program has a five-year roadmap and will focus initially on training programs to sensitize 8,000 MSMEs in sustainability and its reporting, and to support 300 MSMEs to publish their first sustainability report at the end of the program period. It will conduct capacity building workshops and support the formulation of the Sustainability Reporting Guidelines for small businesses in the Philippines as well as spearheading roundtable discussions and policy dialogues with regulators and other key government agencies. It will also convene an MSME Sustainability Summit bringing together the MSMEs in the Philippines for the enterprises to learn from their peers, and to inspire the rest of the business space in the country and in the region to bring forth an inclusive and sustainable development. 

Advertisement - PS04spot_img

More articles

LEAVE A REPLY

Please enter your comment!
Please enter your name here

Advertisement - PS05spot_img
Advertisement - PS01spot_img

Must read

Advertisement - PS03spot_img