HSBC and International Union for Conservation of Nature (IUCN) Sri Lanka Country Office announced the launch of their project to crystalize a cohesive low carbon development transition strategy for the local apparel industry on 3 December 2019 at the HSBC Sri Lanka Head Office in Colombo 01. 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.
Mark Prothero, CEO HSBC Sri Lanka and Maldives said: “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, IUCN Sri Lanka 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, Brandix Lanka Ltd (representing Joint Apparel Association Forum) Suchira Surendranath who made the Guest speech said that sustainability does not mean installing a few a 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.”
In 2017, HSBC pledged USD100bn for sustainable financing and in practice this translates to HSBC being a leading global partner in financing, managing and shaping the transition in to a low carbon future. HSBC is committed to finance projects which will help deliver 2015 Paris Climate Agreement and the UN Sustainable Development Goals (SDGs).
Sustainable financing in the apparel and garment sector has the potential to contribute to several UN SDGs.
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