Corporate / SME News | News & Insights

HSBC-IUCN project to make Sri Lankan apparel sector green.

Published: December 9, 2019
Author: TEXTILE VALUE CHAIN

HSBC and the International Union for Conservation of Nature (IUCN) Sri Lanka recently launched a project for a cohesive low-carbon development transition strategy for the domestic apparel industry. 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).

According to Mark Prothero, chief executive officer of HSBC Sri Lanka and Maldives, with this project, the company is moving beyond transactional corporate social responsibility to more a knowledge-based contribution that benefits the communities, the environment and the country at large.

In 2017, HSBC pledged $100 billion for sustainable financing. HSBC is committed to finance projects which will help deliver 2015 Paris Climate Agreement and the UN Sustainable Development Goals (SDGs), according to a report in a Sri Lankan newspaper.

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