Businesses go green with new “Caribbean Trade for Sustainable Development Hub”
| Caribbean Export Development Agency becomes “one-stop” shop for sustainability-related services for businesses |
| BRIDGETOWN, Barbados (March 1, 2021) – The International Trade Centre (ITC), in collaboration with the Caribbean Export Development Agency (Caribbean Export), has announced the launch of the Caribbean Trade for Sustainable Development (T4SD) Hub, the latest in its network to help micro, small and medium-sized enterprises (MSMEs) to develop green and viable business models. The Caribbean hub will be hosted by Caribbean Export, the regional trade and investment promotion agency mandated to enhance the competitiveness of MSMEs in CARIFORUM countries. Caribbean Export joins a global network of T4SD Hubs which have been established with local institutions in Ghana, Kenya, Laos, Nepal, Peru and Vietnam to strengthen MSMEs’ competitiveness. Implementing green business practices help MSMEs become climate-resilient, lower their carbon emissions, recycle waste, get certified with sustainability standards and access green finance and value chains. Launching the hub virtually last week, ITC Executive Director Pamela Coke-Hamilton said: “With the launch of the Caribbean T4SD Hub and the soon to be held UNCTAD 15, the region is positioning itself at the center of the current trade debate, which largely centers around how trade can contribute to an inclusive green recovery and transition. Trade can be a powerful tool to ensure a resilient and net zero emissions future, which leaves no one behind when we ensure that it is used in the right way. Any stakeholder along an international value chain – whether a consumer, local producer or international brand – can play its role to transform our trading system by demanding sustainable products, by adhering to sustainability standards, and by implementing sustainable business practices.” By hosting the Caribbean T4SD Hub, Caribbean Export will develop the expertise and skills to offer sustainability-related services for MSMEs to build the business case to go green. In his opening remarks, Caribbean Export Executive Director Deodat Maharaj stressed the partnership was “timely and necessary.” Further, “for MSMEs to enhance their competitiveness requires a concerted effort to protect against the vulnerability to disaster events; improved efficiency of the limited resources available; and the identification of ways to rapidly expand production capacity. Moreover, our MSMEs must be positioned to maximize the use of existing market access arrangements, by overcoming technical trade barriers.” Over the next two years, the Caribbean T4SD Hub will address topics such as climate resilience, resource efficiency, circularity, sustainability standards, green finance access, and international value chains. These are key challenges for Caribbean MSMEs to become and remain competitive. The hub will deploy a unique programme comprising blended learning activities, including e-learning, webinars and customized face-to-face coaching sessions. The learning activities will incorporate ITC’s existing tools and services and guide MSMEs on ways to integrate sustainable practices into their core business models. Caribbean Export was selected to host the Caribbean T4SD Hub following a competitive process. The institution will work closely with ITC staff and sustainability experts to implement various work streams of the technical assistance. MSMEs that will be part of the hub’s coaching programme in the first two years of hub operations will be part of the programme’s pilot phase, which ITC will primarily lead. Following this, Caribbean Export foresees it will have the necessary capacities to continue the hub’s programme and mentor Caribbean MSMEs in establishing sustainability-driven export businesses. |
| About ITC The International Trade Centre is the joint agency of the World Trade Organization and the United Nations. ITC assists small and medium-sized enterprises in developing and transition economies to become more competitive in global markets, thereby contributing to sustainable economic development within the frameworks of the Aid-for-Trade agenda and the United Nations’ Sustainable Development Goals. For more information, visit www.intracen.org. Follow ITC on Twitter | Facebook | LinkedIn |Instagram |
| About Caribbean Export Caribbean Export is the regional export development and trade and investment promotion organisation of the Forum of Caribbean States (CARIFORUM) currently executing the Regional Private Sector Programme (RPSDP) funded by the European Union under the 11th European Development Fund (EDF). Caribbean Export’s mission is to increase the competitiveness of Caribbean countries by providing quality export development and trade and investment promotion services through effective programme execution and strategic alliances. More information about Caribbean Export can be found at www.carib-export.com. |
| Marketplace Excellence Corporation Disclaimer: The content of the foregoing news release belongs to and has been approved by the news release source, the name and contact for which is identified at the top of this dispatch. Marketplace Excellence Corporation (MPE) reserves the right to edit Newswire content for editorial and grammatical compliance. We do not, however, provide any other oversight or review, nor do we verify or vouch for the accuracy, veracity or copyright of any content which has been submitted to us. MPE takes no responsibility for and disclaims the information available in this third party news release. MPE Newswire is a distribution service for subscribers of Marketplace Excellence Corporation. |
