Head of UN trade agency on climate financing for small businesses, first-ever SME Declaration: COP29

(Baku) – Finance is at the top of the UN Climate Change Conference (COP29) agenda. The question is, how to translate the trillion-dollar figures being floated into tangible financing that reaches the “last mile” – in other words, so that it reaches developing countries, and more specifically, small businesses of developing countries, who need it most. 

Small and medium-sized enterprises (SMEs) play a key role in curbing emissions, as they make up 90% of all companies and the bulk of suppliers along global supply chains. They account for 40-60% of all emissions, so their action – or inaction – matters. 

This is why at COP29, Executive Director of the International Trade Centre (ITC) Pamela Coke-Hamilton will make available the new “NDC 3.0” guidelines for countries to update their Nationally Determined Contributions or national climate plans due early next year, so they account for the perspectives and pain points of small businesses. 

ITC will also sign a commitment with the Small and Medium Business Development Agency of the Republic of Azerbaijan (KOBIA) and the Brazilian Support Service for Micro and Small Businesses (SEBRAE) with the aim of establishing the Baku Climate Coalition for SMEs Green Transition Declaration. The SME Declaration – which would be the first of its kind – would help establish small businesses as a key group to engage with in advancing the green transition, on the road to COP30 in Brazil. 

ITC is also bringing a delegation of small businesses to COP29, from Brazil, Nigeria, Pakistan, Papua New Guinea and Tajikistan. See their profiles here (they will be available for interviews). While small businesses often lack the time and resources to green their processes, they are also leaders in piloting environmentally friendly solutions, for example, by creating digital platforms where users can deposit waste for credits, or by using drones and mapping technology to plant trees in deforested areas. 

The Executive Director will be available for interviews. Please contact Susanna (information below) and/or attend one of the following sessions: 

• 13 November from 11:00-12:00, ITC Pavilion, Zone E, D15, Blue Zone: Signing of an agreement to establish the Baku Climate Coalition for SMEs Green Transition Declaration with the Small and Medium Business Development Agency of the Republic of Azerbaijan (KOBIA) and the Brazilian Support Service for Micro and Small Businesses (SEBRAE); note Brazil is the COP30 host 

• 14 November (Trade Day) from 9:00-11:00, Presidency Area / Room SE2, Blue Zone: Statement at the Baku Initiative for Climate Finance, Investment and Trade (BICFIT) launch session by COP Presidency 

• 14 November (Trade Day) from 14:00-15:00, Trade House, Zone E, B4, Blue Zone: Speaking role at the high-level panel on “Innovation and Leadership in Trade for Climate Action” 

• 14 November (Trade Day) from 15:30-16:30, Trade House, Zone E, B4, Blue Zone: Speaking role at the high-level panel on “Policy Experiences Contributing to Climate FIT Action” 

For statements by the Executive Director throughout COP29, on topics ranging from climate finance to making NDC 3.0 work for small businesses to policy recommendations in a new ITC renewable energy report, keep an eye on ITC@COP webpage.

Embargoed quotes from the Executive Director are available here. 
 

Notes for the Editor 

About ITC - The International Trade Centre is the joint agency of the World Trade Organization and the United Nations. ITC assists small and medium-sized enterprises in developing and transition economies to become more competitive in global markets, thereby contributing to sustainable economic development within the frameworks of the Aid-for-Trade agenda and the United Nations’ Sustainable Development Goals. 

For more information, visit www.intracen.org. 

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Media contact 

Susanna Pak 
Senior Strategic Communications Officer 
Office of the Executive Director 
International Trade Centre 
E: pak [at] intracen.org (pak[at]intracen[dot]org)