The role and contribution of MSMEs are crucial to support ASEAN’s transition to a more sustainable economy. MSMEs are the backbone of the ASEAN Economy, making up 85% of employment and contributing 44.5% to GDP in the region. MSMEs can support ASEAN Member States (AMS) in their sustainability efforts by reducing carbon emissions of their business activities and developing new products or services that contribute to climate mitigation and adaptation. At the same time, involving MSMEs in national strategies is crucial to prepare them to mitigate the challenges posed by climate change and adapt to the changing market landscape due to shifts in consumer preference and policies in respective AMS to reduce greenhouse gas emissions and transitioning to a low-carbon economy.
Against this backdrop, the Climate Change Guidelines for Small and Medium-sized Enterprises was endorsed by the ASEAN Committee on Science, Technology, and Innovation (COSTI) on 15 June 2023. The Guidelines were developed through a project led by Thailand Institute of Scientific and Technological Research (TISTR) with support from the ASEAN Secretariat, delivered by The Carbon Trust and Connecting Founders with funding support from Global Affairs Canada through the Canadian Trade and Investment Facility for Development (CTIF).
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ASEAN for Business Bulletin - June 2023
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