unepfi-绿化中小企业：改善毛里求斯中小企业获得绿色融资的机会（英）-2021.11-81正式版

GreeningtheSMEs:

ImprovingSMEAccesstoGreenFinanceinMauritius

AboutPAGEMauritius

ThePartnershipforActiononGreenEconomy(PAGE)seekstoputsustainabilityattheheartofeconomicpoliciesandpractices;andsupportsnationsandregionsinreframingeconomicpoliciesandpracticesaroundsustainabilitytofostereconomicgrowth,createincomeandjobs,reducepovertyandinequality,andstrengthentheecologicalfounda-tionsoftheireconomies.ComplementarytoUNEPFI,PAGEisajointprogrammewhichbringstogetherfiveUNagencies—UNEnvironmentProgramme,InternationalLabourOrganization,UNDevelopmentProgramme,UNIndustrialDevelopmentOrganization,andUNInstituteforTrainingandResearch,toofferintegratedandholisticsupporttocountriesoninclusivegreeneconomy,ensuringcoherenceandavoidingduplication.PAGErepresentsamechanismtocoordinateUNactiononthegreeneconomyandtoassistcountriesinachievingandmonitoringtheemergingSDGs.

MauritiusofficiallybecameaPAGEpartnercountryinmid-2014andsincethen,PAGE’sworkhassupportednationalobjectivesaselaboratedinavarietyofstrategicplansandgovernmentprogrammes,suchastheMauritiusNationalVision,theThree-YearStrate-gicPlan:RisingtothechallengesofOurAmbitions(2017/18–2019/20),10-YearMaster-planfortheSMESectorinMauritius,and“AchievingMeaningfulChange”(2016–2020).Throughoutthisprocess,PAGEhasworkedwiththeMauritiangovernmentaswellastheprivatesectorandcivilsocietyactorsonaseriesoftechnicalsupportprogramsandvariousgreeneconomyassessments.Itseekstopromoteinnovation,increaseefficiencyofpublicinstitutionsanddevelopskillsinthelaborforcetowardstheadvancementofsharedandenvironmentallysustainablegrowthinMauritius.PAGEactivitiesinMauritiusarecontributingtotheachievementof:SDG1(Nopoverty);SDG4(QualityEducation);SDG8(Decentworkandeconomicgrowth);SDG9(Industry,InnovationandInfrastruc-ture);SDG12(ResponsibleConsumptionandProduction);SDG13(ClimateAction)andSDG17(PartnershipsfortheGoals).

AboutUNEPFI

TheUnitedNationsEnvironmentProgrammeFinanceInitiative(UNEPFI)isapartnershipbetweenUNEPandtheglobalfinancialsectortomobilizetheprivatesectorforsustain-abledevelopment.Itworkswithmorethan300membersi.e.banks,insurers,andinves-tors;andover100supportinginstitutions,tohelpcreateafinancialsectorthatservespeopleandtheplanetwhiledeliveringpositiveimpacts.Theaimistoinspire,informandenablefinancialinstitutionstoimprovepeople’squalityoflifewithoutcompromisingthatoffuturegenerations.ByleveragingtheUN’srole,UNEPFIacceleratessustain-ablefinancingbysupportingglobalfinancesectorprinciplestocatalyzeintegrationofsustainabilityintofinancialmarketpractice,withtheaimofcreatingthemosteffectivenetworkforsharingknowledgeandbestpractice;andtoamplifythecollectivevoiceofthefinancesectorinpolicydebate,engagingpolicymakers,regulatorsandsupervisorsontheroleofthefinancialsectorincontributingtosustainabledevelopment.

GreeningtheSMEs:ImprovingSMEAccesstoGreenFinanceinMauritius

2

Disclaimer

Theinformationcontainedinthereportismeantforinformationalpurposesonlyandissubjecttochangewithoutnotice.Thecontentofthereportisprovidedwiththeunder-standingthattheauthorsandpublishersarenothereinengagedtorenderadviceonlegal,economic,orotherprofessionalissuesandservices.

Subsequently,UNEPFIisalsonotresponsibleforthecontentofwebsitesandinfor-mationresourcesthatmaybereferencedinthereport.TheaccessprovidedtothesesitesdoesnotconstituteanendorsementbyUNEPFIofthesponsorsofthesitesortheinformationcontainedtherein.Unlessexpresslystatedotherwise,theopinions,findings,interpretationsandconclusionsexpressedinthereportarethoseofthevariouscontrib-utorstothereportanddonotnecessarilyrepresenttheviewsofUNEPFIorthememberinstitutionsoftheUNEPFIpartnership,UNEP,theUnitedNationsoritsMemberStates.

Whilewehavemadeeveryattempttoensurethattheinformationcontainedinthereporthasbeenobtainedfromreliableandup-to-datesources,thechangingnatureofstatis-tics,laws,rulesandregulationsmayresultindelays,omissionsorinaccuraciesininfor-mationcontainedinthisreport.Assuch,UNEPFImakesnorepresentationsastotheaccuracyoranyotheraspectofinformationcontainedinthisreport.

UNEPFIisnotresponsibleforanyerrorsoromissions,orforanydecisionmadeoractiontakenbasedoninformationcontainedinthisreportorforanyconsequential,specialorsimilardamages,evenifadvisedofthepossibilityofsuchdamages.

Allinformationinthisreportisprovided‘asis’,withnoguaranteeofcompleteness,accu-racy,timelinessoroftheresultsobtainedfromtheuseofthisinformation,andwithoutwarrantyofanykind,expressedorimplied,including,butnotlimitedtowarrantiesofperformance,merchantabilityandfitnessforaparticularpurpose.Theinformationandopinionscontainedinthereportareprovidedwithoutanywarrantyofanykind,eitherexpressedorimplied.

ThispublicationhasbeenproducedwiththesupportofPAGEfundingpartners.ThecontentsofthispublicationarethesoleresponsibilityofPAGEandcaninnowaybetakentoreflecttheviewsofanyGovernment.Thedesignationsemployedandthepresentationofthematerialinthispublicationdonotimplytheexpressionofanyopin-ionwhatsoeveronthepartofthePAGEpartnersconcerningthelegalstatusofanycountry,territory,cityorareaorofitsauthorities,orconcerningdelimitationofitsfron-tiersorboundaries.Moreover,theviewsexpresseddonotnecessarilyrepresentthedecisionorthestatedpolicyofthePAGEpartners,nordoescitingoftradenamesorcommercialprocessesconstituteendorsement.

GreeningtheSMEs:ImprovingSMEAccesstoGreenFinanceinMauritius

3

RightsandPermissions

Copyright©UNEnvironmentProgramme,2021,onbehalfofPAGE

ThereportispublishedaspartofthePartnershipforActiononGreenEconomy(PAGE)—aninitiativebytheUnitedNationsEnvironmentProgramme(UNEP),theInternationalLabourOrganization(ILO),theUnitedNationsDevelopmentProgramme(UNDP),theUnitedNationsIndustrialDevelopmentOrganization(UNIDO)andtheUnitedNationsInstituteforTrainingandResearch(UNITAR).

Thispublicationmaybereproducedinwholeorinpartandinanyformforeducationalornon-profitpurposeswithoutspecialpermissionfromthecopyrightholder,providedacknowledgementofthesourceismade.ThePAGESecretariatwouldappreciatereceiv-ingacopyofanypublicationthatusesthispublicationasasource.

NouseofthispublicationmaybemadeforresaleorforanyothercommercialpurposewhatsoeverwithoutpriorpermissioninwritingfromthePAGESecretariat.

Acknowledgements

ThisstudywasproducedbytheUnitedNationsEnvironmentProgrammeFinanceInitia-tiveunderleadershipofthePartnershipforActiononGreenEconomy(PAGE).

ThestudywaspreparedbyateamledbyReubenWambui(AfricaRegionalCoordinator,UNEPFI)andsupportedbyMercyOkoth(Consultant,UNEPFI)andDianaAdhiambo.TheteamreceivedoverallsupportandguidancefromLieselVanAst(MembershipandRegionalCo-ordinationManager,UNEPFI),JoyaBhandari(UNPAGEMauritiusNationalCoordinator),BeibeiGu(UNPAGEMauritiusFocalPoint)andAdebiyiOdegbile.WearegratefultoRobertWilsonfordesignandlayoutofthereport.

CloseconsultationwithSMEs,keypolicymakersandgovernmentofficials,andotherstakeholdersinMauritiuswasinstrumentalintheproductionofthisreportandtheirinputsaregratefullyacknowledged.Viewswerealsosolicitedfromarangeofthematicexpertstowhomtheteamisthankful.Theviewsexpressedinthisreportdonotconsti-tuteanendorsementbyanyoftheabove-mentionedstakeholders.

PAGEgratefullyacknowledgesthesupportofallitsfundingpartners:EuropeanUnion,Finland,Germany,Norway,RepublicofKorea,Sweden,SwitzerlandandtheUnitedArabEmirates.

Citation

PAGE(2021),GreeningtheSMEs:ImprovingSMEAccesstoGreenFinanceinMauritius.

GreeningtheSMEs:ImprovingSMEAccesstoGreenFinanceinMauritius

4

Foreword

Beingasmallislanddevelopingstate,Mauritiusisfacingadverseeffectsofclimatechangeresultinginconsiderableeconomicloss,humanitarianstressesandenvironmentaldegradation.Againstabackdropofaglobalpandemic,Mauritius’recoveryactionstowardsclimatechangeresilienceandsustainabledevelopmentarewellencapsulatedinthephrase“ThinkGlobal,ActLocal”.Mauritiusdevelopmentisheavilyboundtotheglobaleconomy,whichsawthecountry’seconomysufferadverseeffectstoitstourism,energyandfoodindustriesfollowingglobalclosureofbordersduetotheCOVID-19pandemic.

Goingforward,buildingagreeneconomywillrequirerethinkingofthecountry’seconomicmodeltodevelopsustainableandproductivelocalcapabilitieswithaspecialfocusonsmallandmediumenterprises(SMEs).SMEsplayakeyroleinoveralleconomicdevelopmentbutalsosignificantlycontributetoover-allindustrialpollution,thusneedtobeprioritizedinthetransitiontoagreeneconomy.

AccesstofinanceremainsasignificantbarriertogreeningofSMEs.Integratingenvironmentalcrite-riaintoSMEfinancingiskeytocreatingsustainabledevelopmentoutcomes.Thisreportmakesatimelycontributionbyassessingaccessto,anduseof,greenfinancebySMEsinMauritiusandbyextensiontheintegrationofsustainabilityintheirbusinessoper-ations.ItalsodiscussespolicyoptionsasMauritiuscontinuestomovetowardsagreeneconomy.Thereporthasthreekeymessages.

First,Mauritianauthoritieshavemadecommend-ablepolicyeffortstowardsincentivizingbusinessestoengageinsustainablepractices,asseeninthe2020–2021NationalBudgetandthe10-yearSMEMasterPlan.However,publicfinancingalonecannotfullyfundSMEadoptionofgreenpractices.Thus,the

EnablingGreenSMEs:ImprovingSMEAccesstoFreenFinanceinMaruitius

5

Foreword

reportalsohighlightsinnovativeSMEgreenfinancingschemesfromcommerciallenderstowardsadvanc-ingenvironmentalsustainability.

Second,SMEsfaceknowledge,financial,policyandsizebarriersinhibitingthemfromaccessinggreenfinance.Thesebarriershighlightareasofopportu-nityforpolicyinterventiontosupportSMEstoadoptandfinanceappropriategreentechnologiesandinno-vations.Thereisstillaneedtoexpandstructures,strategies,initiativesandpoliciesthatarespecifictogreenfinanceforSMEs.Further,awarenessneedstobecreatedonavailablesupportandinitiatives,toallowSMEstotakefulladvantageofthem.Asaresult,moreSMEswillgainmotivationtoincorporategreenprojectswithintheiroperationsandinturnacquiregreenfinancing.

Third,followingincreasingunemploymentandincomelossesprecipitatedbytheCOVIDpandemic,supportmeasuresareneededtoprotectsmall-scaleenter-prisesandpreventthemfromrevertingtonegativecopingstrategiesundoingthecommendableprog-ressmadesofartowardsgreenerandmoreinclusivedevelopment.TowardsnationaleconomicrecoveryfromCOVID-19impacts,thegovernmentofMauritiushaslaunchedaGreenRecoveryProject,withthetech-nicalassistanceofthePartnershipforActionontheGreenEconomy(PAGE)andfundingfromtheGermangovernment.Theseactivitiesareaimedatcreatinganenablingbusinessenvironmentanddevelopingincen-tivestopromoteasustainableagro-foodindustryandtheexpansionofSMEsinthesector.

EricUsher

UNEPFIHead

EnablingGreenSMEs:ImprovingSMEAccesstoFreenFinanceinMaruitius

6

Foreword

TableofContents

Foreword

5

ListofAcronyms

9

A.

ExecutiveSummary

11

B.

Introductionandbackground

14

1.

StudyContext

14

2.

StudyObjectives

15

3.

StudyApproachandMethodology

15

C.

LandscapeofSMEsinMauritius

16

1.

SMEsinMauritius

16

2.

EconomiccontributionandsignificanceofSMEs

16

D.

PolicyandRegulatoryFrameworkforSMEs

18

1.

The10-yearmasterplanfortheSMEsector

18

2.

Nationalbudget

20

E.

StateofSustainabilityforSMEsinMauritius

22

1.

SustainabilityinMauritius

22

2.

GreenProjectsforSMEsinMauritius

24

F.

GreenFinanceOptionsinMauritius

25

1.

GreenFinancinginMauritius

25

2.

StatusofGreenfinanceoptions

26

G.

GreenFinanceInstitutionsandInitiatives

28

1.

CommercialBanks

28

2.

DevelopmentBanks

30

3.

MultilateralInstitutions

30

4.

OtherInstitutionsandInitiatives

33

H.

StudyFindings

37

1.

GreenFinanceBarriersforSMEs

37

2.

GreenFinanceCaseStudies

40

3.

TheLandscapeandOpportunityforGreenFinance

43

4.

PracticesonGreenFinance:Lessonsfromelsewhere

44

I.

RoadmapandactionstoscaleupgreenfinanceforSMEs

53

1.

PotentialSolutionstoIdentifiedBarriers

53

2.

Furtherrecommendations

56

3.

QuickwinsandNextSteps

57

GreeningtheSMEs:ImprovingSMEAccesstoGreenFinanceinMauritius

7

TableofContents

J.

GreenRecoveryinMauritius–“BuildingBackGreen”

59

1.

TheCOVID-19Pandemic

59

2.

COVID-19inMauritius

59

3.

COVID-19RecoveryPlans

61

4.GreenBusinessOpportunitiesinMauritius

63

5.

Recycling

64

K.

Conclusion

68

L.

RecommendationforFurtherStudy

70

M.Appendix:ResourceToolkitonGreenFinance

71

1.GreenFinanceandProgrammes

71

2.CarbonMarketsandPricing

73

3.

Mauritiusresources

74

N.

Bibliography

75

Annex1:SMESurvey

80

ListofTables

Table1:

NewcriteriafordefiningSMEs

16

Table2:

ValueAdded&EmploymentofSMEsfor2002,2007,2013and2019

17

Table3:

SUNREFEligibleProjects

32

Table4:

GOFresponsetochallengesfacedbySouthAfricanSGBsandfundmanagers

48

Table5:

CaseStudiesofGrants,SubsidiesandTechnicalAssistanceforSMEs

57

Table6:

CaseStudiesofTaxIncentivesforSMEs

57

Table7:

GreenBusinessOpportunitiesinMauritius

64

ListofFigures

Figure1:

ContributionoftheSMEsector10-yearplan

20

Figure2:

CHUEEProcessDesign

52

Figure3:

WasteCompositioninMauritius

65

GreeningtheSMEs:ImprovingSMEAccesstoGreenFinanceinMauritius

8

TableofContents

ListofAcronyms

ADF AfricanDevelopmentFund

AFD AgenceFrançaisedeDéveloppement

AGF AfricanGuaranteeFund

BMCE MoroccoBankofForeignCommerce

BOM BankofMauritius

CBRC ChinaBankingRegulatoryCommission

CEB CentralElectricityBoard

ClimateChangeCentre

CFP CatalyticFinancePartner

CHUEE ChinaUtility-BasedEnergyEfficiencyFinanceProgram

Cicero CenterforInternationalClimateResearch

COVID-19 CoronaVirusDisease2019

CSRC ChinaSecuritiesRegulatoryCommission

DAI DevelopmentAlternatives,Inc.

DBM DevelopmentBankofMauritius

DEM DevelopmentandEnterpriseMarkets

DH Moroccandirham

EBRD EuropeanBankforReconstructionandDevelopment

EIB EuropeanInvestmentBank

ESCOs EnergyServiceCompanies

EU EuropeanUnion

EUNIF EuropeanUnionNeighborhoodInvestmentFacility

EUR Euro

FDI ForeignDirectInvestment

GAP GreenActionPlan

GDP GrossDomesticProduct

GEF GlobalEnvironmentFacility

GEFF GreenEconomyFinancingFacility

GIZ GermanDevelopmentCooperationAgency

GOF GreenOutcomesFund

GVA GrossValueAdded

ICT InformationCommunicationTechnology

IDC IndustrialDevelopmentCorporation

IFC InternationalFinanceCorporation

ISP InvestmentSupportProgramme

KfW KreditanstaltfürWiederaufbau

KWh Kilowatthour

LEMS LeasingEquipmentModernizationScheme

LLRF LoanLossReserveFund

MARENA MauritiusRenewableEnergyAgency

GreeningtheSMEs:ImprovingSMEAccesstoGreenFinanceinMauritius

9

ListofAcronyms

MCB MauritiusCommercialBank

MCCI MauritiusChamberofCommerceandIndustry

MEDIA MauritiusExportDevelopmentandInvestmentAuthority

MEPU MinistryofEnergyandPublicUtilities

MoBEC MinistryofBusiness,EnterpriseandCooperatives

MoESDDBM MinistryofEnvironment,SustainableDevelopment,andDisasterandBeach

Management

MorSEFF MoroccoSustainableEnergyFinancingfacility

MPCB MauritiusPostandCooperativeBankLtd

MRC MauritiusResearchCouncil

MSMEs Micro,SmallandMediumsizedEnterprises

MUR MauritianRupee

MWh Megawatthour

NDF NordicDevelopmentFund

NGFS NetworkofCentralBanksandSupervisorsforGreeningtheFinancialSystem

NSIS NationalSMEIncubatorScheme

OECD OrganizationforEconomicCooperationandDevelopment

ODI OverseasDevelopmentInstitute

PAGE PartnershipforActiononGreenEconomy

PET Polyethyleneterephthalate

PSEE PrivateSectorEnergyEfficiency

SACCO SavingsandCreditCooperative

SBM StateBankofMauritius

SCP SustainableConsumptionandProduction

SDGs SustainableDevelopmentGoals

SEM StockExchangeofMauritius

SEMDEM StockExchangeofMauritiusDevelopmentandEnterpriseMarket

SEMSI StockExchangeofMauritiusSustainabilityIndex

SGB SmallandGrowingBusinesses

SID SmallIslandDevelopingStates

SMEDA SmallandMediumEnterprisesDevelopmentAuthority

SMEs SmallandMedium-sizedEnterprises

SSE SustainableStockExchanges

SUNREF SustainableUseofNaturalResourcesandEnergyFinance

UNCTAD UnitedNationsConferenceonTradeandDevelopment

UNDESA UnitedNationsDepartmentofEconomicandSocialAffairs

UNDP UnitedNationsDevelopmentProgramme

UNEP UnitedNationsEnvironmentProgramme

UNEPFI UnitedNationsEnvironmentProgrammeFinanceInitiative

UNFCCC UnitedNationsFrameworkConventiononClimateChange

UNIDO UnitedNationsIndustrialDevelopmentOrganization

UNOPS UnitedNationsOfficeforProjectServices

USD UnitedStatesDollar

WHO WorldHealthOrganization

GreeningtheSMEs:ImprovingSMEAccesstoGreenFinanceinMauritius

10

ListofAcronyms

A.ExecutiveSummary

SmallandMedium-sizedEnterprises(SMEs)inMauritiuscontributesignificantlytojobcreation,innovationandsharedprosperity.ThereisanincreasingfocusonSMEsasdriversofinnovationforsustainabledevelopment.ForMauritiustoacceleratethesustainabilitytransition,furtherattentionisrequiredtosupportthefinancialneedsofSMEs.Thisresearchstudyisanassessmentoftheaccessto,anduseof,greenfinancebySMEsinMauritius.ThestudybyextensionevaluatestheintegrationofsustainabilityinthebusinessoperationsofSMEs.Thestudyidentifiesthegapsingreenfinancing,exploreslessonsfromothercountriesandregions,andproposespotentialsolutionstoscaleupgreenfinanceopportunitiesforSMEs.

ThestudyacknowledgesthatthelegalandthetechnicaldefinitionofSMESvariesandthusmakesitdifficulttomakeanygeneralassertionforSMEsasagroup.ThestudyadoptsthedefinitionproposedbytheSmallandMediumEnterprisesAct2017basedonannualturnover.

ThelandscapeofSMEsinMauritiusishighlyskewedtowardsenterpriseswithlessthanMUR2millionannualturnover,withmostrequiringlow-skillsoperationsandinvolvinglowvalueadditionactivities.TosupportSMEs,thegovernmentsetuptaxincentivesforSMEs’exportprofitsandanSMEequityfundthatinvestsinSMEsinMauritius.The10-YearMasterPlanfortheSMESectorinMauritius(2017)makesrecommendationstoreshapetheentrepreneurlandscapeandsetstargetsforSMEsby2026.Inaddition,throughtheannualnationalbudgets,thegovernmentcontinuestomakeeffortstocreatefavorablepoliciesandincentivessuchastaxincentivesandfeesubsidiestosupportSMEs.

Sustainabilityisakeythemeforthecountry’sdevelopment.Movingtowardssustain-abilityandresponsibleinvestment,thegovernmentofMauritiusrecentlylauncheditsnewnationalprogrammefor2020–2024:“TowardanInclusive,HighIncomeandGreenMauri-tius,ForgingAheadTogether”.Throughtheprogramme,thegovernmentiscommittedtodevelopingenvironmentallysustainabledevelopmentpolicybasedonfourpillars;invest-ingincleanenergy,mitigatingrisksfromclimatechange,protectionofmarineresourcesandshiftingtoacleanerandgreenerMauritius.ThegovernmenthasalsosignedanagreementwiththeEuropeanUnion(EU)toaddressclimatechangeadaptationandmiti-gation.Further,italsohasanationalprogramonSustainableConsumptionandProduc-tion(SCP)whichfocusesongreenpracticeswith13projectssuccessfullyimplemented.

EnablingGreenSMEs:ImprovingSMEAccesstoFreenFinanceinMaruitius

11

ExecutiveSummary

Publicandprivatesectorengagementispickingupasshownbythenumberoffinan-cialinstitutionsandactorsthathavetakentheinitiativetocreateasegmentforthefinancingorincentivizingofSMEswhilstothersprovidegreenfinance.TheMauritiusCommercialBank(MCB),StateBankofMauritius(SBM)andAfrAsiaBankLimited(AfrA-sia)throughacreditlinefromtheAgenceFrançaisedeDéveloppement(AFD)providegreenloanstohelpfirmssaveenergyandreducetheircarbonemissions.InstitutionssuchasMauBank,DevelopmentBankofMauritius(DBM),andMauritiusResearchandInnovationCouncil(MRIC)haveschemesthatsupportthegrowthanddevelopmentofSMEsinMauritius.Also,theStockExchangeofMauritius(SEM)developedsustainabilityindexesthatidentifycompaniesbasedonstrongsustainabilitypractices.Furthermore,thereexistsprogrammesandinitiativesthatsupportthegreeningoftheMauritianecon-omysuchastheSwitchAfricaGreenProgrammeandtheGreenClimateFund.

SpecificbarrierslinkedtoinsufficientgreenfinanceforSMEsinclude:

KnowledgebarriersthathindertheintegrationofgreenfinancingasSMEs’ownersinMauritiuslackadequateawarenessongreenfinancingandexecutinggreenprojects.

FinancialbarriersthathinderSMEsfromtakingupgreenbusinessprojectsduetolargerinitialcapitalcosts,riskofinvestingingreenSMEsandunfavorablefinancingterms.

RegulationandpoliciesongreenfinanceareofteninadequateanddonotcatertothespecificSMEneeds.

AvailableincentivesandproductsoftenignorethelifestagesofSMEs,especiallystartupsandarethusnottailoredtotheirspecificinvestmentneeds.

ToimprovetheintegrationofgreenfinanceforSMEsinMauritius,knowledge,finance,regulatoryandpolicybarriersneedtobeaddressed.Thestudymakessomekeyrecommendations:

ScaleuppublicinvestmentschanneledtowardsgreenprojectsforSMEs

Adequatepolicyincentivizationthroughgreenfinancepoliciesandincentives

ImprovedSMEsectorawarenessoncommitmentsfromthegovernmentandcommerciallenderstogreenprojectsandgreenfinancing

FinancialinstitutionstoenhanceriskanalysisofSMEsgreenprojects

Expandedgreenproducts/loanswithfavorablelendingtermsforSMEs

EnablingGreenSMEs:ImprovingSMEAccesstoFreenFinanceinMaruitius

12

ExecutiveSummary

Overtheyears,Mauritiushastakencertaingreenfinanceactionsthathavehelpedtopromoteandacceleratesustainablebusinessofferings.Thisstudyproposespossi-blenextstepswhichiftakencouldimprovetheintegrationofgreenfinanceforSMEswhichinclude:

TheGovernmentintensifyinggreenfinancepoliciesandincentives

Provisionofgreenloansbydevelopmentbanks,localbanks,andotherfinanciers

ProvisionofseveralSMEsschemesandfundsspecifictogreenbusinessdevelop-mente.g.theSwitchAfricaGreenprojectwhosecurrentscopeismanufacturing,agri-cultureandtourismsectors

Awarenesscampaignsongreenbusinessdevelopmentandsecuringgreenfinance

Thestudyalsodiscussespractices,outcomesandlessonslearnedintheSMEgreenfinancespaceacrossdifferentcountriesthatcanbeadoptedandtailoredtofittheMauritianlocalcontext.

Reducingwastethroughrecyclingcontributestosustainabledevelopmentthroughpollutioncontrol,resourcerecoveryamongmanymore.ThestudylooksatSMEinvolvementinrecycling,solutionstochallengesfacedbySMEsandavenuesofdevel-opmentforSMEstoengageinrecycling.

Finally,COVID-19hasbroughtglobaldisruption,withunprecedentedeconomicvolatil-ityandslowdown.Mauritiushasbeenhighlyvulnerableespeciallyinkeysectorssuchastourism,andthegovernmenthasbeenkeentoenactinterventionstocontroltheeffectsofthepandemicandboosteconomicrecovery.WhilethisposesachallengeforMauritius,italsopresentsawatershedmomentforthecountrytoaligneconomyrecoveringtomoresustainableaninclusivepracticeandthus“BuildBackBetter”.Inresponsetothepandemic,theGovernmentofMauritiushasoutlinedsubstantivepolicyinterventionstosupporttheprivatesectortomitigatetheimpactofCOVID-19,andatthesametimepreventitsrapidspread.

EnablingGreenSMEs:ImprovingSMEAccesstoFreenFinanceinMaruitius

13

ExecutiveSummary

Introductionandbackground

StudyContext

Mauritiusgreenhouseemissionshavebeengrowingyearly,asthecountrycontinuestodevelopitseconomy.Specifically,carbondioxideemissionsgrewsubstantiallybetween2010and2020from3,290thousandtonnesto5,200thousandtonnes.Mauritiusseekstopromoteaparadigmshifttolow-emissionsandadapttoclimatechangeasthecoun-tryisamongthehighlyvulnerabletoclimatechangeimpacts.Thus,thegovernmentofMauritiushasbeenconsistentinitseffortstodeveloppolicies,strategiesandinitiativestotransformMauritiusintoagreeneconomy.Moreinvestmentsbythegovernmenthavebeendirectedtowardssectorssuchasrenewableenergy,energyefficiencyprojects,greenagriculture,improvedwastemanagement,greenagricultureandlow-carbontransport.

SmallandMedium-sizedEnterprises(SMEs)playakeyroleintheeconomicdevelop-mentofMauritiusbuthavelimitedinvestmentincontrollingfortheircontributiontooverallindustrialpollutionthroughtheirownoperationsoracrosstheirvaluechain.ThispresentsahugegapandthereforehugeopportunityforSMEstopromoteasustainableandinclusiveeconomy.

Greenfinanceisabroadtermthatreferstoanyflowoffinances,beitfrombanks,micro-credit,insurance,investment,publicsectorandnon-for-profits,offeredundersustainabil-ityconsiderationsspecifictoenvironmentalfactorsandthatareprovidedtopromoteenvironmentallyresponsibleinvestmentsandstimulatelow-carbontechnologies,proj-ects,industriesandbusinesses.1Participationoffinancialinstitutionssuchasbanks,andinvestorsingreeninvestmentinitiativesiscrucial.Thebankingsectorplaysamajorroleinfosteringgreenfinanceasmicrofin