Advancing Small Business Opportunity for Nature and Climate

The TIME Talks panel with Ellen Jackowski, Chief Sustainability Officer and Executive Vice President of Mastercard, spoke about the Mastercard Center for Inclusive Growth / CGS report and Aimée provided her insights as well. View TIME’s “Talking Climate” article here. Image Credit: TIME100 Talks

“Small businesses are the backbone of the global economy and essential to tackling climate change. They power local economies, support families, and represent the majority of businesses worldwide. Yet, they're often left out of crucial climate conversations. To meet our climate goals, we must ensure small businesses are not only at the table but equipped to thrive and adapt in a changing world. Governments, NGOs, philanthropy, and larger enterprises must prioritize empowering small businesses to build resilience and lead the way to a sustainable, inclusive future”

— Nigar Arpadarai UNFCCC high-level climate champion and deputy of the National Assembly of Azerbaijan

Mastercard’s head of the Center for Inclusive Growth Shamina Singh and CSO Ellen Jackowski tasked Christensen Global to identify how to advance small businesses contributions to resilient and inclusive economic opportunity. This work culminated in “Unlocking the Power of Small Businesses to Drive Climate-Smart Inclusive Growth” which has just been named the winner of Ragan’s 2025 CSR & Diversity Awards for Reports and Research for advancing CSR, ESG, and purpose-driven communications. The report features powerful strategies to ensure that small businesses are able to play their critical roles enhancing climate resilience by tapping into new economic opportunities and reducing the urgent climate risks that they face

Small businesses are key drivers of economic output globally and within local communities and are vital actors for climate solutions while also facing unique threats from climate impacts. Globally, micro and small enterprises (MSEs) compose 90% of businesses, generate over 50% of GDP, and employ 70% of the workforce, yet they are disproportionately vulnerable to the impacts of climate change and face unique challenges in accessing climate solution business opportunities.

Through desk research, strategic interviews, and roundtable discussions with those working with MSEs, research from the Mastercard Center for Inclusive Growth and Christensen Global found that data, capital, and wrap-around support are key solutions to unlock the power of MSEs to accelerate climate-smart inclusive growth. We featured case studies from those advancing small business resilience solutions including for data (e.g., 60 Decibels, Vested Impact, and Appalachian Community Capital), capital (e.g., DWM, 4R Capital, Foundation for Amazon Sustainability, Clarmondial AG, Opportunity Finance Network, SELF (Solar and Energy Loan Fund), Climate Resilience for All, Self Employed Women's Association, and wrap-around support (e.g, SME Climate Hub, International Trade Centre, Kiva), and those deploying solutions that cut across data, capital and/or wrap-around support (e.g., Rainforest Alliance, Future Roots, Humanity Insured, Inclusiv, Encourage Capital, Ghana Climate Innovation Centre (GCIC), CARE.)

Thank you to Shamina, Ellen and MC ESG expert David Eichberg and the incredible Mastercard Insights team including Ali Schmidt-Fellner, Carolina Zuluaga, and Mycala Gill who were our partners in delivering this report. To achieve these solutions, Mastercard will continue to connect small businesses to the technology, capital, and insights they need to adapt and thrive in a changing world. With the implementation of the global Mastercard Strive program, Mastercard is partnering with key stakeholders around the world to provide economic opportunities that support climate action for businesses and communities around the world. 

To that end, the report was launched at COP29 and discussed at events there including: 

• Ellen Jackowski at the TIME100 “TIME Talks” panel at Goals House with participants including Earthshot Prize winner Aadith Moorthi of Boomitra moderated by TIME’s Justin Worland.

• David Eichberg at the Blue Zone panel "Unlocking SME Growth & Resilience" hosted by We Mean Business and SME Climate Hub with participants including Ikea CEO Jesper Brodin.

• Aimée Christensen at the "Championing Climate Finance to Build Global Resilience" lunch roundtable at Goals House hosted by Alterra with participants including Rockefeller Foundation, Bank of America, and ArcelorMittal.

• Aimée Christensen at "The Resilience Roll-Out: Deploying Global Solutions" hosted by C2ES with participants including International Trade Administration of US Department of Commerce, Southern California Edison, Duke Energy, Microsoft, and US Trade & Development Agency.

• Ellen Jackowski at the High Level Champions official Blue Zone roundtable event.

• "Showcasing Resilience Leadership" panel at official Blue Zone side event with David Eichberg and participants including COP29 High Level Champion Nigar Arpadarai.

• Aimée Christensen at "Getting Down to Business: How SMEs Can Drive Investments and Innovation For Climate Adaptation" official Blue Zone side event hosted by UNIDO and UNEP with participants including The Adaptation Fund and small business leaders from Zambia, UNIDO, UNEP.

This recognition reinforces what we at Christensen Global aspire to achieve: impact accelerated by strategic connections, trusted relationships and powerful insights from honest conversations among those closest to the work - often built in a collaborative setting. Convening is powerful when done with intention and guidance, with those also seeking to concretely advance impact. Christensen Global’s annual Sun Valley Forum, our 2025 NYCW event, and all CGS gatherings have this character. By bringing together research, resources, and real-world action, we can unlock the full potential of small businesses to drive resilient, equitable, and inclusive growth. 

As we move ahead, we remain committed to elevating small businesses as climate solutions providers by sharing insights, convening and building collaborations like this one, and call on all philanthropists, policymakers, innovators and investors to prioritize small businesses who can and must be centered in solving our climate challenge, building resilient communities and economies for all.

Aimée at TIME100 Dinner at COP29

"Small businesses make up over 90% of companies worldwide, which means that in order to adapt and mitigate climate change, we must support entrepreneurs in building climate resilience and driving impactful climate action."

— Shamina Singh, President & Founder, Mastercard Center for Inclusive Growth