Cleaner production to help save $70m in textile sector: IFC
Star Business Report
The country’s 1,700 textile wet-processing units will be able to save up to $70 million and 10.5 billion litres of water a year if they adopt cleaner production measures.
The disclosure came after the International Finance Corporation (IFC) and its partners helped 12 textile factories save $1 million and reduce water consumption by 75 million litres after they adopted a cleaner production initiative.
In association with a Dutch organisation — Solidaridad — and six leading garment buyers, IFC brought in global and regional experts to deliver hands-on knowledge and experience to local consultants.
The initiative, designed to make the country’s garment industry more sustainable and globally competitive, was introduced by SouthAsia Enterprise Development Facility, which is managed by IFC, in partnership with the UK Department for International Development and the Norwegian Agency for Development Co-operation.
Key international buyers who participated in the programme included H&M, KappAhl, Lindex, Mothercare, Levi’s and WE Fashions, said IFC yesterday.
IFC has rolled out the initiative at 12 factories so far, and preliminary results show that the implementation of clean and resource-efficient production methods yielded significant savings.
“The success of the project will allow the Bangladeshi textile sector to gain a competitive edge in the world market by showcasing its efforts towards a greener supply chain,” said Monika M Weber-Fahr, who leads IFC’s sustainable business advisory business line.
Leading European and American clothing brands that procure their merchandise from Bangladesh are also optimistic about rolling out the initiative across the country’s garment industry.