Global Summit showcases SMEs driving green growth and climate solutions

New Delhi, September 18 (KNN) The Global SME Sustainability Summit – Small Business, Big Impact, held in the nation’s capital, brought together key industry leaders, policymakers and innovators to discuss the critical role of micro, small and medium-sized enterprises (SMEs) in combating climate change and supporting sustainable growth.

Organised by the PHD Chamber of Commerce and Industry (PHDCCI), the summit featured a number of stalls showcasing sustainable solutions developed by SMEs, highlighting their crucial role in driving green growth.

The summit focused on the need for SMEs to be at the forefront of the global transformation towards sustainable practices. Ashok Kumar, Deputy Director General, Bureau of Energy Efficiency (BEE), Ministry of Power, Government of India, highlighted the importance of SMEs in the Indian economy, noting their contribution to nearly 50 per cent of the country’s exports and providing employment to 11-12 crore people.

He also issued a dire warning about the ecological crisis, saying six of nine planetary boundaries have been breached, increasing the urgency of immediate, collective action from all sectors.

The summit also focused on innovation. Ranjeet Mehta, Director General and Secretary General of PHDCCI, discussed the entrepreneurial spirit of Indian startups.

He proposed the creation of sustainable development parks modeled on Taiwan’s plastic eco-parks. These parks could serve as green hubs for SMEs, enabling them to implement and scale green innovations.

Mehta also highlighted the role of PHDCCI in spearheading initiatives to ensure that small businesses are given adequate support in their journey towards sustainable development.

Saurabh Diddi, Director, Office of Energy Efficiency, linked recent climate catastrophes to the broader global climate crisis and discussed the emerging carbon market in India.

He stressed the importance of compliance and compensation mechanisms in reducing the carbon footprint, positioning SMEs as key players in this changing environment.

The Summit confirmed the growing consensus that SMEs, despite their size, have enormous potential to make a significant impact on climate action while contributing to sustainable economic growth.

(KNN Office)