Striving to mitigate the repercussions of climate change holds concrete advantages for small and medium-sized enterprises. Within the realm of climate action lies the potential for revenue generation, intricately linked with the development of climate-resilient businesses. In recognition of this symbiotic relationship, the GCIC Business Incubator has thoughtfully integrated a dedicated masterclass on Climate Change into its curriculum for its cohorts.
On the 8th of August 2023, 26 businesses in cohort 8 of the GCIC Business Incubator commenced their Incubation program with a masterclass centered around climate change. Guided by Dr. Daniel Tutu Benefoh, the Acting Director of the Climate Change Unit at Ghana’s Environmental Protection Agency (EPA), the session signaled the commencement of a transformative experience.
The GCIC masterclasses are a series of virtual and in-person sessions, aimed at developing and enhancing entrepreneurship professionalism, and building insight on the practicalities of private enterprise, as required to ensure entrepreneurs have what it takes to go the long-haul with their business.
Dr. Benefoh began by exploring each entrepreneurs’ business, and the climate-oriented interventions they have devised. The session also covered various topics relating to climate change including risks and vulnerabilities of climate change, an overview of Ghana’s climate change policies, and investment opportunities within the ambit of climate-smart businesses.
Some of the discussions that emerged from the session were about the importance of comprehending a business’s carbon footprint and its consequent implications. Dr. Benefoh expounded on the necessity of gauging one’s carbon footprint, as well as understanding the intricacies of greenhouse gases and their production within a company’s operations. He added that, just as a business plays a role in shaping climate change, so too is it shaped by its effects. He also spoke to the need to align with governmental policy as a business owner and emphasized that a profound grasp of government directives is indispensable, as these directives invariably intersect with a business’s bottom line. He stated that businesses that are interested in green financing must be able to pitch for funds and to provide climate change rationale for their business activities. And this is achieved by being intentional about the source products and as well as sustainable and efficient production. Demonstrating the potential impact of a business and its contribution to climate mitigation is also paramount in this context.
Dr. Benefoh concluded the masterclass with a resounding call to action, urging the cohort to grasp their roles in the climate change narrative and passionately striving for mitigative measures.
GCIC Cohort 8 has begun a journey that intertwines business prowess with environmental mindfulness—a voyage that not only propels individual enterprises but also contributes to the broader mission of addressing climate change challenges.
