HSBC Sri Lanka and the International Union for Conservation of Nature (IUCN) recently 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 Association Forum Sri Lanka (JAAFSL), the Sri Lanka Banks’ Association, the Board of Investment of Sri Lanka (BOI), and the National Cleaner Production Centre supported the project as strategic partnerships.
HSBC Chief Executive Officer (CEO) – Sri Lanka and Maldives Mark Prothero stated: “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 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.”
IUCN Country Representative Dr. Ananda Mallawatantri shared: “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’s consistent policy commitment, high level of compliance by the industry, and extensive stakeholder co-ordination, 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.”
JAAFSL 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 IUCN research supported by HSBC will further enlighten us in taking forward this agenda. SME companies in particular will be the beneficiary of the findings when those thoughts could be converted to a bankable proposal.”