Small industries emit 110 million tonnes of CO2 every year in India

Micro, Small, and Medium Enterprises (MSMEs) play a pivotal role in India's economy, contributing 30% of India's GDP and providing employment for over 110 million individuals.

However, this economic engine collectively emits a staggering 110 million tons of carbon dioxide annually, underscoring the urgency of decarbonization efforts to achieve India's net-zero emissions goal.

SME Climate Hub empowers Indian MSMEs

To tackle this challenge, the SME Climate Hub has launched a free digital platform in India. Its goal is to empower MSME entrepreneurs with the information and tools needed for their decarbonization journey. The platform enables Indian MSMEs to measure, understand, and reduce their significant carbon footprint.

This initiative provides online resources and tools tailored to small businesses, helping them commence their climate-conscious endeavors. A standout feature is the Business Carbon Calculator, allowing MSME entrepreneurs to identify their primary sources of emissions, a crucial step towards effective carbon reduction.

In addition, the platform provides the Climate Fit curriculum, which includes concise learning modules aimed at enhancing climate change literacy. Moreover, it includes a centralized reporting tool that allows MSMEs to track their annual emissions reductions in relation to their public climate commitments.

200 Indian businesses commit to decarbonization

Currently, over 200 Indian small businesses have committed to climate action through this platform, pledging to halve their emissions by 2030 and achieve net-zero emissions by 2050. These enterprises are now part of a global peer group comprising more than 6,500 similar businesses.

Pamela Jouven, Director of SME Climate Hub, emphasized, "Addressing climate change necessitates swift action from businesses of all sizes. In the Indian context, with proper guidance, MSMEs can make significant strides towards decarbonization."

This initiative launched in India in collaboration with the Center for Responsible Business and the Aspen Network of Development Entrepreneurs. Its goal is to boost climate awareness and build capacity among MSMEs. This will be achieved through workshops, peer learning, and partnerships with governmental, industrial, and financial organizations.

Indian MSMEs can lead decarbonization

"Measuring climate ambition among Indian MSMEs and integrating them globally is commendable," stated Devyani Hari, Director of the Center for Responsible Business. It signals that Indian MSMEs can lead global decarbonization."

As the climate crisis intensifies, the need for action becomes clearer. It's not just Indian MSMEs' responsibility but also in their best interest. Failing to act could be costly, but emissions reductions can drive innovation, secure manufacturing, save money, and create new revenue streams.

Platforms like the SME Climate Hub provide small businesses with practical tools and knowledge to understand their climate impact and strategically reduce it. They also empower MSMEs to make substantial contributions to national and global climate goals, strengthening their resilience and competitiveness.

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