HSBC Sri Lanka, in partnership with the International Union for
Nature Conservation (IUCN), has launched a survey to plan greener processes in
the apparel industry.
The survey will be focusing on small and medium-sized producers,
officials said.
"The apparel industry is a vital income earner for Sri Lanka,
and supporting its shift to greener development is crucial for the industry's
growth and long-term stability," said Mark Prothero, Chief Executive of
HSBC Sri Lanka and Maldives.
"HSBC is
moving beyond transactional corporate social responsibility with this project
to a more knowledge-based contribution that benefits communities, the
environment, and the country as a whole."
"And hopefully
the result of this study will be a strategic guide on how small and
medium-sized apparel producers can reduce their carbon footprint by becoming
greener and more sustainable," he said.
The apparel
industry in Sri Lanka is by far the largest export earning industry with sales
of US$ 5 billion and has a significant environmental impact. To achieve
sustainability, the more substantial industry players have transformed over the
years into greener manufacturing methods. Sri Lanka's Chief Financial Officer,
Brandix Lanka Limited, Suchitra Surendranath, representing the Joint Apparel
Association Forum (JAAF), spoke at the event describing Brandix's steps to
create Sri Lanka's first ' net zero carbon ' factory in Batticaloa.
"Typically,
44 percent of power is used for air conditioning in a garment factory," he
said. "For example, magnetic bearing chillers could save up to 42 percent
of that consumption as compared to rotary chillers."
He further
commented, saying, "Replacing conventional LED lighting, gripping servo
motor motors, and installing biomass boilers instead of gas boilers are a few
steps you might take to create greener garment.”
Sustainable
investment has the potential to contribute to several UN Sustainable
Development Goals (SDGs) in the fashion and clothing industry. These include
providing and maintaining water and sanitation, building robust infrastructure,
inclusive and sustainable industrialization and development, integrated,
healthy, stable and sustainable communities and human settlements, and fighting
climate change and its impacts.
IUCN Country
Representative Ananda Mallawatantri said that the strategy would be implemented
with the assistance of industry and government officials from organizations
such as JAAF, the National Cleaner Production Center (NCPC), and the Investment
Board (BOI).
"The
consultations envisaged during the development of the strategy will include
regulatory agencies, senior managers of the apparel industry and technical
staff, environmental auditors who are familiar with the operations and
processes of the industry," he said.
OSL Take: The
statement by HSBC on Sri Lanka’s apparel industry experts is a clear indication
of the continuously growing business/investment opportunities in the country’s
apparel exports sector. The growth in sales recorded by Sri Lanka’s
multinational textile manufacturer shows the business potential in Sri Lanka’s
apparel manufacturing and export sector.
Sri Lanka enjoys
the GSP Plus trade concession from the EU and the US GSP facility, which
provides added incentives to local manufacturers and exporters. Relationships
with fresh clients will diversify the export industry that is needed because of
U.S. import dependency. This emphasis will also be here to create long-term
relationships with global brands that can enhance the apparel sector. The need
to capitalize on automation and the target of US$ 6 billion in apparel export
earnings is a beckoning call for foreign businesses/investors to explore
business/investment opportunities in Sri Lanka.
VBS/AT/05022020/Z_TB3
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