SMB

We believe Azerbaijan’s socio-economic development is closely linked with entrepreneurship and its future development!

New Startups That Will simplify life of People Meeting of the subgroup on “Environment, social and governance (ESG) standards” Azerbaijani Entrepreneurs Participate in "MÜSİAD EXPO" with KOBİA's Support Training on Social Entrepreneurship Held Kazakh entrepreneurs informed about Support Measures for Business entities in Azerbaijan "KOB FEST" exhibition-sales fair is in underway in Goychay this time ANNOUNCEMENT The Azerbaijan’s Growth Dynamics for SMB Sector continues Baku Coalition Declaration for the Green Climate Transition of SMBs Garners Support from the Private Sector, too The 7th meeting of the Business Council under the AQEM was held

Within the framework of COP29, a panel discussion was held on the topic “The Role of SMBs in the Green Economy” 16.11.24

The panel discussion focused on the benefits of the green transition for SMBs, the importance of responsible environmental practices, climate financing, and the support entrepreneurs need to establish green businesses.

The panel discussion on “The Role of SMBs in the Green Economy” took place as part of the 29th session of the Conference of the Parties (COP29) to the UN Framework Convention on Climate Change, held in Baku.The event, organized by the Small and Medium Business Development Agency (KOBİA) in the “Green Zone”, was attended by the officials, representatives from international organizations, entrepreneurs, and startups implementing the projects related to the “green economy”.

The panel discussion featured speeches by Manuela Traldi, President of the Italy-Azerbaijan Chamber of Commerce, Orhan Mammadov, Chairman of the Management Board of KOBİA, Dima Al-Khatib, Director of the UN South-South Cooperation Office, Zehra Zumrut Seljuk, Director General of the Statistical, Economic and Social Research and Training Centre for Islamic Countries (SESRIC), Vanessa Erogbogbo, Head of Division of the International Trade Centre, and Jonathan Ortmans, Founder and President of the Global Entrepreneurship Network.

The speeches highlighted the role of SMBs in the global economy and employment, as well as their contribution to combating climate change, and also covered included climate financing, the benefits of the green transition for SMBs, the importance of environmental, social, and corporate governance (ESG) principles in the green transformation of businesses, responsible environmental practices, and the responsibilities of entrepreneurs in this field.

The event highlighted that the green transformation of SMBs is achievable through collaborative efforts at both global and national levels, and all stakeholders in the SMB ecosystem were invited to support the “Baku Coalition Declaration for the Green Climate Transition of SMBs”, proposed by KOBİA. It was emphasized that the International Trade Centre (ITC), Brazil's Micro and Small Business Support Service (SEBRAE), and Nigar Arpadarai, the UN Climate Change High-Level Champion for Azerbaijan, have already signed the relevant declaration, expressing their commitment and support.

The panel discussed the essential steps to continue supporting SMBs during their transition to the green economy, focusing on enhancing their environmental responsibility, as well as the participants' questions were also addressed during the discussion. Additionally, during the event, Tim Cheston, Senior Research Manager at Harvard University's “Growth Lab” International Development Center, delivered a presentation on the global “Green Growth Portal”, developed through collaboration between the Ministry of Economy and the center.

Similtaneously, within the framework of COP29, KOBİA participated in several discussions on the green transition of SMBs and Orhan Mammadov, Chairman of the Management Board of KOBİA, provided information on the actions and collaborative plans outlined in the “Baku Coalition Declaration for the Green Climate Transition of SMBs”, aimed at promoting global cooperation for the green transition of SMBs, during the High-Level Multilateral Roundtable on SMBs as the Driving Force for a Just Transition and a Sustainable Green Economy.

At the event organized by the UN Industrial Development Organization (UNIDO) on “Circular Economy: Achieving Climate Goals through Resource Efficiency and Circular Business Practices,” Orhan Mammadov, Chairman of the Board of KOBİA, shared insights on the benefits of the circular economy for businesses, particularly SMBs, and highlighted KOBİA's initiatives under the 'EU4Environment' program in this area.

During the meeting held between KOBİA and Yofi Grant, Executive Director of the Ghana Investment Promotion Centre, both sides discussed practical approaches to strengthening business cooperation between the regions.