At COP27, small businesses need governments and corporations to ratchet up ambition and the action to match

The We Mean Business Coalition calls for governments and corporations at COP27 to support SMEs in the energy transition. It highlights that SMEs are disproportionately affected by climate impacts and energy costs, and urges the implementation of policies to accelerate the shift from fossil fuels to renewables, increase investment in climate innovation, and provide accessible tax credits and incentives similar to the US Inflation Reduction Act.

• Small and medium sized enterprises (SMEs) are disproportionately affected by climate change due to their reliance on local communities, undiversified supply chains, and localized infrastructure. Specific impacts include wildfires disrupting farms, wineries, and restaurants; floods and hurricanes forcing hotel closures; and extreme heat and drought disrupting organic material sources for retailers.
• The transition from fossil fuels to cleaner energy sources offers economic benefits for SMEs, who often operate on tariffs similar to individual households. Analysis by the We Mean Business Coalition indicates that policies shifting toward cleaner energy can save a family of four $2,000 annually.
• The document outlines four primary requirements for governments and corporations to support the SME transition: raising climate ambition and directing businesses to the SME Climate Hub; accelerating the shift from coal, oil, and gas to renewables and electrification; increasing finance for net zero transition and climate innovation; and creating policies where SMEs are direct recipients of benefits.
• The United States' Inflation Reduction Act (IRA), which provides $369 billion in tax credits and investments for clean energy, is cited as a model that other governments should follow to help small businesses prepare for economic and climate shocks.

APA

Davis, L. (2022). At COP27, small businesses need governments and corporations to ratchet up ambition and the action to match. We Mean Business Coalition. https://www.wemeanbusinesscoalition.org/blog/at-cop27-small-businesses-need-governments-and-corporations-to-ratchet-up-ambition-and-the-action-to-match/

Chicago

Davis, Luke. At COP27, small businesses need governments and corporations to ratchet up ambition and the action to match. We Mean Business Coalition, 2022. https://www.wemeanbusinesscoalition.org/blog/at-cop27-small-businesses-need-governments-and-corporations-to-ratchet-up-ambition-and-the-action-to-match/.

Wikipedia

{{cite press release |last1=Davis |first1=Luke |title=At COP27, small businesses need governments and corporations to ratchet up ambition and the action to match |publisher=We Mean Business Coalition |date=7 November 2022 |url=https://www.wemeanbusinesscoalition.org/blog/at-cop27-small-businesses-need-governments-and-corporations-to-ratchet-up-ambition-and-the-action-to-match/ |access-date=23 October 2026 |via=Climate Insights Directory}}

BibTeX

@misc{davis2022cop27, author = {Davis, Luke}, title = {{At COP27, small businesses need governments and corporations to ratchet up ambition and the action to match}}, publisher = {We Mean Business Coalition}, year = {2022}, month = nov, url = {https://www.wemeanbusinesscoalition.org/blog/at-cop27-small-businesses-need-governments-and-corporations-to-ratchet-up-ambition-and-the-action-to-match/}, urldate = {2026-10-23}, note = {Indexed by Climate Insights Directory} }