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页_1mb

Summary of "Greening the SMEs: Improving SME Access to Green Finance in Mauritius"

Core Content

The report "Greening the SMEs: Improving SME Access to Green Finance in Mauritius" focuses on the integration of sustainability into the financial practices of small and medium enterprises (SMEs) in Mauritius. It evaluates the current state of green finance access and usage by SMEs, identifies key barriers, and proposes policy and financial solutions to enhance their participation in the green economy.

Main Objectives

• Assess the integration of sustainability in SME financing in Mauritius.
• Identify gaps in green finance frameworks and structures.
• Propose a roadmap and action plan to scale up green financing for SMEs.
• Explore opportunities for green finance in the context of climate change and post-pandemic recovery.

Key Findings

1. SMEs in Mauritius

• SMEs are defined based on annual turnover under the Small and Medium Enterprises Act 2017:
  • Micro: < MUR 2 million
  • Small: MUR 2–10 million
  • Medium: MUR 10–50 million
• The SME sector is highly skewed towards micro-enterprises, with most operating in low-skills and low-value addition activities.
• SMEs contribute 36% of the Gross Value Added (GVA) and 49% of total employment in Mauritius.

2. Barriers to Green Finance Access

• Knowledge barriers: SME owners lack awareness about green finance and green projects.
• Financial barriers: High initial costs, investment risks, and unfavorable financing terms hinder SMEs from adopting green practices.
• Regulatory barriers: Green finance policies are not tailored to SME needs and are often inadequate.
• Incentive gaps: Available incentives and products do not consider the life stages of SMEs, especially startups.

3. Government and Policy Efforts

• The government has introduced various initiatives, including the 10-Year Master Plan for the SME Sector and the 2020–2024 National Programme: Toward an Inclusive, High Income and Green Mauritius.
• The National Budget includes tax incentives and fee subsidies to support SMEs.
• The government has also signed an agreement with the European Union (EU) to address climate change adaptation and mitigation.

4. Green Finance Mechanisms

• Commercial banks such as MCB, SBM, and AfrAsia Bank, in partnership with AFD, offer green loans and advisory services.
• Development banks like DBM and MRC provide schemes for SME growth and development.
• Multilateral institutions such as the Green Climate Fund (GEF) and European Union Neighborhood Investment Facility (EU NIF) support green finance initiatives.
• The Stock Exchange of Mauritius (SEM) has developed sustainability indexes to identify companies with strong green practices.

5. Green Recovery Initiatives

• The Green Recovery Project, supported by PAGE and funded by the German government, aims to create an enabling business environment and promote a sustainable agro-food industry.
• The concept of "Building Back Green" is emphasized as a strategy for economic recovery post-pandemic, aligning with sustainable development goals.

Key Recommendations

• Scale up public investments in green projects for SMEs.
• Enhance policy incentivization through targeted green finance policies and incentives.
• Improve awareness among SMEs about government and commercial green finance commitments.
• Strengthen risk analysis of SME green projects by financial institutions.
• Expand green products/loans with favorable terms for SMEs.
• Promote awareness campaigns on green business development and securing green finance.
• Tailor green finance initiatives to the specific needs of SMEs, especially startups.

Conclusion

The report underscores the importance of SMEs in driving sustainable development and highlights the need for a more integrated and supportive green finance framework. It calls for coordinated efforts between the public and private sectors, as well as enhanced awareness and policy support, to ensure that SMEs can effectively access and utilize green finance for environmentally responsible growth.

SDGs Alignment

The initiatives and recommendations in the report align with the following Sustainable Development Goals (SDGs):

• SDG 1 (No poverty)
• SDG 4 (Quality education)
• SDG 8 (Decent work and economic growth)
• SDG 9 (Industry, Innovation and Infrastructure)
• SDG 12 (Responsible Consumption and Production)
• SDG 13 (Climate Action)
• SDG 17 (Partnerships for the Goals)

Additional Notes

• The report includes case studies of green finance mechanisms and green business opportunities in Mauritius.
• It also outlines practices from other countries that could be adapted to the local context.
• The Appendix provides a resource toolkit on green finance, including green programmes, carbon markets, and relevant resources in Mauritius.

This comprehensive analysis aims to support the transition of Mauritius towards a green, inclusive, and sustainable economy by addressing the current limitations in green finance access for SMEs and proposing actionable solutions.