Article
Strategies to improve sustainability: An analysis of 120 micro-enterprises in an emerging economytle
Global Sustainability
(2022)
Abstract
Global small and medium enterprises represent 90% of global business, creating and maintaining 50% of employment, and in emerging economies, formal Small and Medium Enterprises (SMEs) provide 40% of the national gross domestic product and the gap of productivity is approximately 7% of global gross domestic product with respect to large firms. However, their output generates an elevated environmental footprint, which requires green transformation to achieve sustainable development. The purpose of this study is to describe the intervention process in 120 microenterprises with the aim of improving environmental and sustainability performance in four categories: sustainability, water, energy, and solid waste management. The project included five stages: the postulation, selection, and enrolment of 120 microenterprises; sustainability diagnosis; action plan formulation; the results of implementation and evaluation; and the feedback on results. This study demonstrated the importance of integrating sustainability into the business to improve productivity, competitiveness, and access to new markets; in many cases, the microentrepreneur is unaware of all possibilities offered by having environmentally friendly processes, which was shown with evidence throughout the study. Approximately 242 action plans were implemented, achieving multiple results that involved knowledge of processes and equipment of microenterprises to measure and improve their environmental performance by reducing or consuming water and energy more efficiently, reducing waste, increasing awareness for caring for the environment, and measuring variables, among others. The findings of this study are important to demonstrate that microenterprises have an important role in the economy and have the potential to achieve sustainability and environmentally friendly processes; however, they require adequate support and financial programs that should be designed and implemented by policymakers with the aim of strengthening this sector and decreasing poverty and promoting sustainable economic growth and development in developing countries .
Keywords
- Microenterprises,
- strategies,
- sustainability,
- environmental performance,
- Colombia
Disciplines
Publication Date
Winter February 27, 2022
Citation Information
Alexander Cotte Poveda and Clara Inés Pardo Martinez. "Strategies to improve sustainability: An analysis of 120 micro-enterprises in an emerging economytle" Global Sustainability Vol. 5 Iss. 1 (2022) p. 1 - 16 ISSN: 2059-4798 Available at: http://works.bepress.com/alexandercottepoveda/55/