Business
Research, insights add value to Circular Economy Workshop for apparel sector
In response to the multifaceted challenges posed by resource scarcity, environmental impacts and economic concerns, Monash University in partnership with the Joint Apparel Association Forum (JAAF) initiated an insightful Workshop on the Circular Economy (CE) and its profound implications for the apparel industry. The workshop, held recently, served as a catalyst for a collaborative dialogue among prominent apparel manufacturers, researchers and stakeholders.
The central theme underscored the imperative transition from a linear “take-make-use-dispose” business model to a circular one characterized by circular economic flows. This paradigm shift, embedded in the CE ethos, aims to minimise resource inputs and emissions across organizations and their supply networks. The CE approach places a strong emphasis on slowing, narrowing and closing resource loops, thereby enhancing efficiency and significantly reducing waste. Notably, CE practices offer a sustainable and environmentally conscious alternative to traditional production methods.
“”Embracing a circular economy is no longer optional; it’s imperative,” emphasized Professor Amrik Sohal from the Department of Management at Monash Business School, Monash University, a guest speaker at the Workshop. “Sri Lankan companies have been instrumental in driving this change. Yet, the journey to a circular economy, especially for forward-thinking enterprises is challenging. A collective dialogue on adopting circular economy practices is particularly crucial for the apparel industry, a major contributor to global waste and environmental impact.”
The workshop served as a unique platform that brought together leading apparel manufacturers and researchers to exchange insights, share current CE practices and discuss future plans for advancing both theoretical and practical knowledge related to CE in the Sri Lankan Apparel Industry.
This collaborative effort gains particular relevance and timeliness in light of the European Union’s Corporate Sustainability Reporting Directive (CSRD). Legally enacted in 2023, the CSRD is set to commence applicability for larger corporations in the year 2024. The workshop’s discussions were significantly intertwined with the objectives outlined in the CSRD, particularly addressing the EU’s ambitious goal to transition towards more circular apparel production practices by the year 2030.
Operations & Supply Chain Strategy at Loughborough University Professor Jan Godsell opined that, “Apparel companies must redefine their business models, embracing sustainability and ethical practices to navigate the evolving landscape. In the face of these challenges, the future belongs to those who innovate and transform, aligning with evolving regulatory landscape in the EU. We are happy to partner to take this path forward.”
The Workshop organized by Monash University Australia, garnered support from the Made Smarter Innovation and UKRI: ESRC funded InterAct initiative. Local partnerships were instrumental with JAAF, Moratuwa University and the Postgraduate Institute of Management (PIM) actively contributing to the success of the workshop.
The JAAF-led Workshop was a testament to the industry’s commitment to embracing Circular Economy principles. By fostering collaboration, sharing insights and addressing challenges head-on, the groundwork was laid for a more sustainable and circular future for the apparel industry in Sri Lanka and beyond. The Workshop’s outcomes are expected to resonate as a guiding force for the industry’s evolution towards a more environmentally conscious and economically viable Circular Economy.
The Delegation of German Industry and Commerce in Sri Lanka (AHK Sri Lanka) proudly facilitated the first-ever Sri Lankan delegation’s participation at Drupa 2024, the world’s largest trade fair for the printing industry and technology. Held after an eight-year hiatus, Drupa 2024 was a landmark event, marking significant advancements and opportunities in the global printing industry.
AHK Sri Lanka played a pivotal role in organising and supporting the delegation, which comprised 17 members from the Sri Lanka Association for Printers (SLAP), representing eight companies from the commercial, newspaper, stationery printing, and packaging industries. This pioneering effort by AHK Sri Lanka not only showcased the diverse capabilities of Sri Lanka’s printing sector but also facilitated vital bilateral discussions with key stakeholders from the German printing industry.
Business
Unveiling Ayugiri: Browns Hotels & Resorts sets the stage for a new era in luxury Ayurveda Wellness
In a captivating reimagining of luxury wellness tourism, Browns Hotels & Resorts proudly unveiled the exquisite Ayugiri Ayurveda Wellness Resort Sigiriya. This momentous occasion, celebrated amidst a vibrant and serene grand opening on the 6th of June, heralds a new chapter in the Ayurveda wellness tourism landscape in Sri Lanka. Nestled amidst 54 acres of unspoiled natural splendour, Ayugiri features 22 exclusive suites and stands out as the only luxury Ayurveda wellness resort in the country offering plunge pools in every room, rendering it truly one-of-a-kind.
The grand opening of Ayugiri Ayurveda Wellness Resort was an enchanting event, where guests were captivated by the melodies of flutists and violinists resonating through Sigiriya’s lush landscapes. As traditional drummers and dancers infused the air with vibrant energy, Browns Hotels & Resorts’ CEO, Eksath Wijeratne, Kotaro Katsuki, Acting Ambassador for the Embassy of Japan and General Manager, Buwaneka Bandara, unveiled the resort’s new logo, marking a significant moment witnessed by distinguished guests from the French Embassy, Ayurveda and wellness enthusiasts along with officials from the Sigiriya area, LOLC Holdings and Browns Group.
“Our strategic expansion into wellness tourism with Ayugiri Ayurveda Wellness Resort Sigiriya symbolises a significant milestone for Browns Hotels & Resorts. Wellness tourism has consistently outperformed the overall tourism industry for over a decade, reflecting a growing global interest in travel that goes beyond leisure to offer rejuvenation and holistic well-being. By integrating the timeless wisdom of Ayurveda with modern luxury, we aim to set a new standard in luxury wellness tourism in Sri Lanka. Whether your goal is prevention, healing, or a deeper connection to inner harmony, Ayugiri offers a sanctuary for holistic well-being” stated Eksath Wijeratne.
Ayugiri encapsulates the essence of life, inspired by the lotus flower held by the graceful queens of the infamous Sigiriya frescoes. Just as the lotus emerges from the murky depths, untainted and serene,
Ayugiri invites guests on a journey of purity and rejuvenation, harmonised with a balance of mind, body and spirit, the essence of nature, echoes of culture and the wisdom of ancient Ayurvedic healing.
HNB General Insurance, one of Sri Lanka’s leading general insurance providers, has been honored as the Best General Bancassurance Provider in Sri Lanka 2024 by the prestigious Global Banking and Finance Review – UK.
The esteemed accolade underscores HNB General Insurance’s unwavering commitment to excellence and its outstanding performance in the field of bancassurance. Through dedication and hard work, the HNB General Insurance team has continuously endeavored to deliver innovative insurance solutions, cultivate strong relationships with banking partners, and provide unparalleled service to customers nationwide. This recognition is a testament to the team’s dedication and relentless pursuit of excellence in the bancassurance business.
“We are honored to receive this prestigious award, which reflects our team’s tireless efforts and dedication to delivering value-added insurance solutions and exceptional service through our bancassurance partnerships,” said Sithumina Jayasundara, CEO of HNB General Insurance. “This recognition reaffirms our position as a trusted insurance provider in Sri Lanka and motivates us to continue striving for excellence in serving our customers and communities.”
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