The United Nations Office at Geneva
Multimedia Newsroom
Edited News , Press Conferences | UNOG
ITC Presser - Launch of the Competiveness Outlook 2021 23 June 2021
Small businesses unprepared for pandemic-sized climate shock ‘every decade’: ITC
Small businesses which make up more than half of the global workforce were 2.5 times more likely to go under than larger firms in the first months of COVID-19, the International Trade Centre (ITC) said on Wednesday, warning that the impact of climate change is likely to cause pandemic-scale disruption “every decade”.
Highlighting the lack of investment in environmental adaptation among micro and small businesses in less-developed economies, ITC Executive Director Pamela Coke-Hamilton noted that only 38 per cent of small businesses had taken action, compared to 60 per cent of large firms.
“The pandemic has shown that the resilience of businesses matter,” she told journalists at UN Geneva, noting also that small businesses accounted for 50 per cent of global emissions.
“It has also laid bare a resilience divide between small and large firms. Developed countries have the financial means to sustain their economies and protect the most vulnerable. But most developed and least developed countries are unable to do the same.”
Ms Coke-Hamilton added that if such resilience among micro and small businesses was necessary during the pandemic, “it will be even more crucial in addressing climate change. The economic disruption of climate change is expected to be like that of a COVID-19-size pandemic happening every decade. Going green is a survival imperative; the longer firms take to act, the higher the costs become.”
Presenting the agency’s latest report, SME Competitiveness Outlook 2021: Empowering The Green Recovery, ITC Chief Economist Barbara Ramos insisted that governments needed to understand the level of vulnerability of small firms in the first year of the pandemic.
“We need to learn from COVID in order to increase the resilience of small firms….Our SME report last year showed that two out of three micro and small firms were strongly affected by the pandemic, and that’s compared to half of large firms; we know that. We also know that one in four micro firms were at risk of shutting down within three months and this is compared to one in 10 large firms.”
This matters, Ms. Ramos insisted, because companies that managed to withstand the economic downturn caused by COVID-19 “were five times less likely to fire employees during the crisis. And if you add to that the fact that SMEs employ a large share of the world’s population, their resilience really does matter.”
To help small businesses rebuild from the pandemic and prepare for the climate crisis while becoming more competitive, Ms. Coke-Hamilton maintained that urged they will need the support of a network of private and public partners to boost their means to withstand future shocks.
To guide this process, ITC’s report provides a 20-point Green Recovery Plan to help small businesses become more competitive, resilient and green.
“During the pandemic, the liquidity of banks especially in the Caribbean was upwards of $9 billion, but somehow they lacked the ability to attribute value to the green transition process and what this will mean,” she said, urging governments to advocate with financial institutions “to help them understand the long-term strategy and the need to invest.”
According to ITC, nearly 60 per cent of African companies that invested in greening their enterprise said that this led to new, higher-quality and more products. Access to new markets was also a byproduct of this investment along with lower costs.
ends
STORY: Empowering The Green Economy - ITC
TRT: 02 min 34s
SOURCE: UNTV CH
RESTRICTIONS: NONE
LANGUAGE: ENGLISH / NATS
ASPECT RATIO: 16:9
DATELINE: 23 JUNE 2021 GENEVA, SWITZERLAND
SHOTLIST
Exterior wide shot, Palais des Nations flag alley, nations’ flags flying, a sunny day.
- Medium shot: podium speakers seated next to large screen TV relaying broadcast image of the press conference, Room XIV, Palais des Nations
- SOUNDBITE (English): ITC Executive Director, Pamela Coke-Hamilton: “The pandemic has shown that the resilience of businesses matter. It has also laid bare a resilience divide between small and large firms. Developed countries have the financial means to sustain their economies and protect the most vulnerable. But most developed and least developed countries are unable to do the same.”
- Medium shot, journalist, masked and seated, texting on mobile phone in front of laptop.
- SOUNDBITE (English): ITC Executive Director, Pamela Coke-Hamilton: “If such resilience was necessary during the pandemic, it will be even more crucial in addressing climate change. The economic disruption of climate change is expected to be like that of a COVID-19-size pandemic happening every decade. Going green is a survival imperative; the longer firms take to act, the higher the costs become.”
- Medium shot, journalists seated, masked and distanced.
- SOUNDBITE (English): ITC Chief Economist Barbara Ramos: “We need to learn from COVID in order to increase the resilience of small firms. So what have we learned? Our SME report last year showed that two out of three micro and small firms were strongly affected by the pandemic, and that’s compared to half of large firms; we know that. We also know that one in four micro firms were at risk of shutting down within three months and this is compared to one in 10 large firms.”
- Medium shot, side view of podium speakers seated during press conference.
- SOUNDBITE (English): ITC Chief Economist Barbara Ramos: “This matters because we found that companies that were resilient to this crisis were five times less likely to fire employees during the crisis, five times less likely. And if you add to that the fact that SMEs employ a large share of the world’s population, their resilience really does matter.”
- Medium shot, participant, seated and masked, following the press conference slide presentation on his laptop.
- SOUNDBITE (English): ITC Executive Director, Pamela Coke-Hamilton: “During the pandemic, the liquidity of banks especially in the Caribbean was upwards of $9 billion, but somehow they lacked the ability to attribute value to the green transition process and what this will mean. And so it’s also important for BSOs and governments to advocate with the financial institutions to help them understand the long-term strategy and the need to invest and allow you know this kind of support to come into effect.”
- Medium shot, journalist, seated with reading glasses resting on forehead which he then puts on, examining ITC report.
- Medium-wide shot, journalists, seated and distanced, with podium speakers to rear.
Similar Stories
1
1
1
Press Conferences | OCHA , WHO
Rolando Gómez of the United Nations Information Service (UNIS) in Geneva, chaired the hybrid briefing, attended by spokespersons and representatives of the United Nations Office for the Coordination of Humanitarian Affairs and the World Health Organization.
1
1
1
Press Conferences , Statements | UNEP
After 10 days of UN talks on plastic pollution, no consensus was reached; negotiations to continue.
1
1
1
Edited News | WHO
Gaza: Hospitals continue to overflow with people injured while seeking food - WHO
As besieged Palestinian civilians face widespread malnutrition and starvation, hospitals in the Strip are increasingly overwhelmed by the influx of victims of shootings and other injuries at food distribution areas, warns the World Health Organization.
1
1
1
Press Conferences | WHO
Rolando Gómez, Chief of the Press and External Relations Section at the United Nations Information Service (UNIS) in Geneva, chaired the hybrid briefing, which was attended by representatives from the United Nations Independent Investigative Mechanism for Myanmar and the World Health Organization.
1
1
1
Press Conferences | OHCHR
Launch of IIMM’s Annual Report detailing its progress in investigating serious international crimes committed in Myanmar, including advances in identifying perpetrators.
1
1
1
Press Conferences | UNEP
Press Conference - Intergovernmental Negotiating Committee on Plastic Pollution (INC-5.2)
1
1
1
Edited News | UNHCR , WHO , UNMAS
Urgent help is needed to halt a deadly cholera outbreak that is sweeping across Sudan, UN agencies said on Friday, while warning that communities continue to be terrorized by parties to the conflict even as they flee violence.
1
1
1
Press Conferences | UNHCR , WHO , UNMAS , UN HABITAT
Alessandra Vellucci, Director of the United Nations Information Service in Geneva, chaired a hybrid press briefing, which was attended by the representatives and spokespersons of the United Nations Refugee Agency, the World Health Organization, the United Nations Mine Action Service, and UN Habitat.
2
2
1
2
Press Conferences , Edited News , Images | UNEP
Negotiations got under way at UN Geneva on Tuesday to agree on a legally binding treaty to curb plastic pollution, with delegates from nearly 180 countries attending.
1
1
1
Press Conferences | UN WOMEN , UNHCR , UNICEF
Alessandra Vellucci of the United Nations Information Service (UNIS) in Geneva, chaired the hybrid briefing, attended by spokespersons and representatives of the United Nations Children’s Fund, UN Women, the United Nations High Commissioner for Refugees, and the United Nations Office for the Coordination of Humanitarian Affairs.
1
1
1
Edited News | OCHA , UNICEF
Gaza: Hundreds of trucks per day of free aid needed “for months”, in addition to commercial supplies - OCHA
Despite the tactical pauses Israel introduced last week to allow some safe passage for humanitarian convoys, the amount of aid that has entered Gaza remains by far insufficient for the starving population, and UN trucks continue to face impediments on their way to delivering aid.
1
1
1
Edited News | UN WOMEN
Aid agencies echoed wider warnings of growing signs of widespread starvation in Gaza on Tuesday, as UN-partnered international food security experts released their most dire assessment yet of the situation in the wartorn enclave.