Reducing Greenhouse Gas Emissions via Corporate Social Responsibility Initiatives in Micro, Small and Medium Enterprises
The micro, small and medium enterprise (MSME) sector plays a vital role in India’s economy. It contributes 45 percent of industrial output, 40 percent of total exports, and provides employment to over 100 million people. The Say YES to Sustainable MSMEs in India initiative aims to promote environmental sustainability and occupational health and safety (OHS) within this sector.
This initiative, launched by YES BANK in FY 2014-15, is a multi-faceted intervention to help the sector become globally competitive. The Bank identified sectors that have an energy intensive manufacturing process, and had a significant impact on the environment owing to the use of rudimentary technology and practices. The OHS conditions in these sectors were also not optimal and support was needed to bring them at par with acceptable standards. Based on an evaluation of these parameters and a needs assessment, the project was implemented with six sectors: foundry, dyeing, rubber, plastic, general engineering, and rice mills.