“Harmonized Sustainability”, an article by Dr. Hamsa Thota

29 June, 2024

In his latest article, Dr. Hamsa Thota, INSME Board Member, tackles the new concept of “Harmonized Sustainability”. Sustainability encompasses economic, social, and ecological value. Picture a future where pioneering SMEs deliver superior sustainable products and services, and consumers are willing to pay a premium for them, recognizing their superior value. This creates an ecosystem in Harmony. Therefore, the grand challenge is to create a global, sustainable ecosystem of Harmony, achieving “Harmonized Sustainability” through investments and policies that support pioneering, resource-efficient SMEs.

At the AIM Congress 2024 in Abu Dhabi, where INSME participated as well, Dr. Thota held key discussions with Ambassador Raekwon Chung (key advisor to the UN Secretary General Ban Ki-moon) and Prof. Mohamed Gamal Kafafy highlighted the path forward. Ambassador Chung emphasized that sustainability should encompass economic, social, and ecological aspects. He advocated for shifting market competition from price to sustainability quality and supporting SMEs in branding and marketing sustainable products at higher prices.

He also stressed the importance of promoting social campaigns to encourage consumers to pay more for high-sustainability products, driving market transformation.

Prof. Kafafy focused on the significance of resource efficiency, especially for SMEs in the Arab and African states. He highlighted that maximizing efficiency could reduce costs and enhance competitiveness, enabling SMEs to thrive in the green economy while complying with sustainability goals.

Achieving Harmonized Sustainability requires purposeful actions from all stakeholders—consumers, producers, suppliers, marketers, investors, and policymakers. It is only through collaboration that we can build a global, sustainable ecosystem of Harmony. Read the whole article on INSME’s blog now!

Source: INSME Secretariat

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