HSBC and IUCN to form low carbon development transition strategy for Sri Lanka’s apparel industry
HSBC and International Union for Conservation of Nature (IUCN) Sri Lanka Country Office have reportedly announced the launch of their project to crystalize a cohesive low carbon development transition strategy for Sri Lanka’s apparel industry.
The event had taken place on 3 December at the HSBC Sri Lanka Head Office in Colombo.
The strategy will be developed in partnership with the Joint Apparel Association Forum of Sri Lanka (JAAFSL), National Cleaner Production Centre (NCPC) and the Board of Investment (BOI) based on research conducted by IUCN, the local media has reported.
Mark Prothero, CEO of HSBC Sri Lanka and the Maldives has been quoted as saying at the event, “The apparel industry is a critical income earner for Sri Lanka, and supporting its transition into greener development is imperative for the growth and long term stability of the industry.”
“With this project, HSBC is moving beyond transactional corporate social responsibility to more a knowledge-based contribution that benefits the communities, the environment and the country at large. We believe that knowledge based intervention is the best way to ensure that change is impactful and sustainable in the long run.”
Dr Ananda Mallawatantri, Country Representative of IUCN Sri Lanka has said, “During the strategy development process, IUCN Sri Lanka will partner with the Joint Apparel Association Forum (JAAF), National Cleaner Production Centre (NCPC) and the Board of Investment (BOI) to generate and validate information.
“Consultations envisaged during the strategy development will include regulatory agencies, apparel industry senior managers and technical level staff, environment auditors who are familiar with the industry operations and processes. We will also review the international knowledge bases on the subjects involved.”
CFO of Brandix Lanka Ltd (representing JAAF) Suchira Surendranath who made the Guest speech has reportedly said that sustainability does not mean installing a few solar panels.
“Energy saving methods such as providing natural light, ventilation should be done from the construction stage of a factory itself and this was adopted in their globe energy award winning regional factories.”
OSL take:
Sri Lanka’s apparel industry is the leading local export that has been benefited by the many trade agreements as well as trade concessions enjoyed by the country. The continuous growth recorded by the country’s apparel sector is indicative of the growing business potential in Sri Lanka’s apparel industry. Therefore, foreign businesses/investors could explore business/investors opportunities in Sri Lanka’s apparel industry.
| Article Code : | VBS/AT/13122019/Z_4 |