The UAE announced activating a new EcoMark Global Framework initiative, in partnership with the International Chamber of Commerce (ICC), and the Presidency of COP28.
The initiative aims to establish globally structured, cost-effective, and universally recognised standards for sustainable products.
It proposes facilitating the establishment of trusted accreditation bodies in each country which will be empowered to assess and certify companies on their green credentials and, in parallel, providing a toolkit for companies to meet the required criteria.
EcoMark’s global accessibility
By doing so, EcoMark is making global green accreditation accessible and affordable for MSMEs, said Abdelsalam Mohamed Al Ali, Plenipotentiary Minister, UAE Representative to the World Trade Organisation, while making the announcement at its ministerial conference on Wednesday.
The COP Presidency and ICC will actively support the promotion of the EcoMark framework to global SMEs, encouraging greater adoption as a means of enhancing MSMEs’ involvement in green trade.
Their role will extend to providing advice on standards development and potential strategies for engaging SMEs.
Additionally, they will explore the integration of EcoMark with existing and future initiatives aimed at making trade greener and more inclusive for MSMEs.
The EcoMark Global Framework initiative fills a critical emerging gap in the global trade architecture.
The evolving landscape of green trade presents new opportunities, with growing consumer demand for eco-friendly products. However, MSMEs struggle to showcase their green credentials due to high costs and complex processes, keeping them on the outskirts of global green trade.
The new initiative will support governments in creating accreditation bodies, while also providing direct capacity building and training for MSMEs toward attaining and demonstrating green credentials.
This will empower them to reach new markets, find customers, and receive proper credit for their sustainable production practices.
“The UAE saw a need for an inclusive and accessible green trade framework tailored for MSMEs to help them capitalise on the increasing demand for sustainable products and adapt to the evolving trade paradigm,” Al Ali said. “The EcoMark framework represents a significant step towards a more sustainable and inclusive global economy,” he added.
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