HSBC and IUCN launch ‘A road map to a greener apparel sector in Sri Lanka’

Tuesday, 29 June 2021 01:55 - - {{hitsCtrl.values.hits}}

HSBC Sri Lanka and Maldives CEO Mark Prothero

IUCN Country Representative Dr. Ananda Mallawatantri

Joint Apparel Associations Forum Secretary General M.P.T. Cooray

Ceylon Chamber of Commerce National Agenda Committee on Energy Co-Chair Saliya Wickramasuriya (assisting Energy Minister to prepare Cabinet memo on Sri Lanka's ‘net-zero by 2050’ policy)

Board of Investment Sri Lanka Chairman Sanjaya Mohottala

HSBC and IUCN have launched ‘A road map to a greener apparel sector in Sri Lanka’. The report is a result of a first-of-its-kind study conducted over one and a half years and contains key findings and recommendations for a low carbon transition.

The Joint Apparel Associations Forum, Sri Lanka Banks’ Association, the Board of Investment Sri Lanka and the National Cleaner Production Centre supported the project as strategic partnership.

HSBC Sri Lanka and Maldives CEO Mark Prothero said, “The contribution from the apparel sector to the country’s GDP is quite substantial. Our intention with this project was to formulate a common strategy for a greener apparel industry which would benefit the environment, the community and the local economy. We wanted to make available a cohesive strategic guidance and fact-based knowledge for everyone. Putting this into action is a national effort and we hope it will be put into action through fruitful and strategic collaborations.”

International Union for Conservation of Nature Country Representative Dr. Ananda Mallawatantri said, “The long-term sustainability of the apparel sector, especially in the post-COVID-19 era, requires a transformational change to meet the demands by the global brands to reduce energy, water and chemical footprints. Essential changes are in the areas of renewable energy, zero-discharges, science-based targets, circularity, and sustainable financing. Supported by the Government consistent policy commitment, high level of compliance by the industry and extensive stakeholder coordination the Sri Lanka apparel sector could meet these challenges and be competitive. In doing so the benefits would extend to other economic sectors too by raising the environmentally friendly image of the country.”

Joint Apparel Associations Forum Secretary General M.P.T. Cooray said, “Sri Lanka Apparel consciously engaged in the practices, showcasing a responsible and sustainable sourcing destination and prided itself on ethical manufacturing. The ICUN research supported by HSBC ‘A roadmap for a greener apparel sector’ will further enlighten us in taking forward this agenda. The SME companies, in particular will be the beneficiary of the findings when those thoughts could be converted to a bankable proposal.”