GRI has signed a Memorandum of Understanding (MoU) with the Department of Trade and Industry (DTI) in the Philippines, to train micro, small and medium enterprises (MSMEs) in sustainability best practices and help them report on their sustainability impacts.
Through this collaboration, GRI and DTI will provide a series of capacity building sessions on sustainability reporting for MSMEs. They will also convene policy dialogues and roundtable discussions with small businesses on the topic of sustainability in areas such as supply chain management and sustainability procurement.
MSMEs are integral to the economic development and growth of the ASEAN Member States (AMS) as they make up most firms in the region. With around 70 million enterprises in ASEAN, MSMEs contribute 85% to employment, 44.8% to GDP and 18% to national exports of AMS.
There is increasing pressure for MSMEs to become sustainable. Sustainability and green economic growth are moving to the top of the national agenda of the AMS. Countries are issuing national regulations on sustainability reporting and sustainable finance. Global value and supply chains must also meet stricter sustainability requirements.