THE International Trade Centre launched last month a climate competitiveness project aimed at helping micro, small, and medium enterprises (MSMEs) comply with trade-related climate change measures, the Philippine Exporters Confederation, Inc. (Philexport) said.
In a statement over the weekend, Philexport said that the European Union-funded project aims at strengthening the understanding of the role trade plays in adapting to climate change.
Under the project, the ITC will organize capacity building and training opportunities for Philippine MSMEs in building climate competitiveness and resilience.
Michaela Summerer, associate expert at ITC Green and Inclusive Value Chains Section, said that the capacity building includes sustainability standards and certifications, managing resources efficiently, carbon reporting, and business continuity in light of climate change, among others.
“I see the green economy where we have an overarching theme that comes — how it links overall and is very closely linked to the green transition, sustainability initiatives… Renewable energy is also closely linked to resource efficiency but also how to approach this on a national level and be mindful about the sourcing of energy and cost-effective practices,” she said.
“In the light of working with MSMEs and market access, I think we have a lot of different sustainability initiatives not only from the EU coming. So definitely a key area for ITC to work with you on climate change adaptation,” she added.
In a separate statement, Philexport said that addressing climate risks can unlock growth in the $14-trillion market for green technologies by 2030.
Citing a report by the World Economic Forum and the Boston Consulting Group, Philexport said that the market for green technologies and solutions is estimated at more than $5 trillion in 2024 and nearly $14 trillion by 2030.
This spans alternative energy (49%), sustainable transport (16%), and sustainable consumer products (13%).
The report also said that delay in action will lead to firms falling behind more proactive competitors and miss out on opportunities tied to climate leadership.
“Sustainability frontrunners are positioned to create clear advantages in a range of areas, including deeper talent pools, top-line growth, saving cash and carbon, reduced regulatory risk, and lower cost of capital,” Philexport said.
Since 2000, climate-related disasters have already inflicted over $3.6 trillion in damage, the report said.
“Climate risks and opportunities are no longer a peripheral concern; addressing them is a critical component of a company’s overall corporate strategy. Physical and transition risks and opportunities increasingly impact all aspects of corporate strategy,” it added. — Justine Irish D. Tabile