Prioritizing small business financing, inclusion in NDC 3.0: International Trade Centre at COP29
In the lead-up to COP29 Trade Day (14 November), the Geneva-based UN small business agency, International Trade Centre, focuses on making climate finance and national climate plans work for small businesses, which make up 90% of businesses worldwide.
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 matters.
This is why at COP29, the International Trade Centre (ITC), led by Executive Director Pamela Coke-Hamilton, will endorse on 13 November the Baku Climate Coalition for SMEs Green Transition Declaration and sign a partnership 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) to roll it out. 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.
To practically support implementation of the SME Declaration, ITC will launch on 14 November “NDC 3.0” guidelines for countries to work with small businesses to design their Nationally Determined Contributions to address their climate needs, as well as the broader ecosystem that they work in. The inclusion of small businesses in countries’ climate plans – which are the pledges that countries made under the Paris Agreement to reduce greenhouse gas emissions and to increase climate resilience – lays the foundation for small businesses to access climate finance.
Highlighting new partnerships
During COP29, ITC is also signing a letter of intent with the PVBLIC Foundation to help small island developing states to leverage their natural resources, including oceans, to generate incomes, boost GDP and promote food security. The Foundation’s soon-to-be established Development Bank for Resilient Prosperity will support small islands to take climate action and invest in other priority areas, such as data and knowledge sharing, impact investment and technology transfer.
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 please visit ITC’s COP29 webpage ITC @ COP29 | ITC
Note for the Editor
About the International Trade Centre - 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
International Trade Centre
T: +41 22 730 0651
