BAKU: Small and medium enterprises (SME) should increase their participation in the energy transition, given that they represent 80 percent of total global production, a representative from the International Trade Centre (ITC, headquarters in Geneva), Vanessa Erogbogbo said at the Baku Climate Action Week, Trend reports.
“Our organization places a strong emphasis on SMEs and believes that more programs are needed globally to support the energy transition of SME in light of the current climate agenda,” the ITC representative said.
She noted that SME in production and trade significantly influence global pricing, suggesting that this group of producers must be included in climate financing and the energy transition.
“SMEs operate within economic systems, within cities, and they should participate in greenhouse gas emission reduction processes through green programs,” Erogbogbo noted.
The ITC is a multilateral institution with a joint mandate from the World Trade Organization (WTO) and the United Nations (UN
) through the United Nations Conference on Trade and Development (UNCTAD).
Source: Trend News Agency