HSBC together with IUCN launches road map to a greener apparel sector in Sri Lanka

Mark Prothero, CEO – HSBC Sri Lanka and Maldives

By Hiran H.Senewiratne

The contribution from the apparel sector to the country’s GDP is quite substantial. Therefore, formulating a common strategy for a greener apparel industry would benefit the environment, the community and the local economy,, CEO – HSBC Sri Lanka and Maldives Mark Prothero said.

“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.” Mark Prothero told the media via a zoom meeting last Friday where at the event HSBC together with  International Union for Conservation of Nature (IUCN) launched a ” Road Map to a Greener Apparel Sector in Sri Lanka.

He said 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 a strategic partnership.

Dr Ananda Mallawatantri, Country Representative- IUCN said that 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.

He said that 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 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.” he added.

He said that  ICUN research is supported by HSBC “A Roadmap for a Greener Apparel Sector ”  which will further enlighten  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, he added. 

Secretary General, Joint Apparel Associations Forum M P T Cooray, said that Sri Lanka Apparel consciously engaged in the practices, showcasing a responsible and sustainable sourcing destination and prided itself on ethical manufacturing.

This type of concept is very essential for a country like Sri Lanka because more than 43 percent export earnings and more than 36 per of the country’s workforce in the apparel sector. where our country is in the forefront promoting the concept of a country without guilt, Cooray said. 

BOI Director General Sanjaya Mohottala said that this new concept would be introduced for all tree trade zones in the country, which is now in the process of upgrading zones in the country. Further, they will be giving more emphasis on waste water management in zones to ensure sustainability in business.

Saliya Wickramasuriya Co-Chair, National agenda committee on energy of the on Sri Lanka’s “net-zero by 2050”   , policy said that  a road map  of  2030 -2050 of decarbonisation of Sri Lanka will be implemented. A strategy has been set up for energy security as one of the top most programmes for the country.