WWF Joins Forces with HSBC to Advocate Sustainability in Fashion
“The project forges a collaborative network of fashion business leaders, working together to discuss and explore how to implement sustainability as a core value of business planning, product development, company policy and operational practices,” Ms. Ho said.
WWF-Hong Kong will provide key platforms for senior management of participating companies to implement sustainable practices throughout their business operations. Companies or organisations will engage with a group of forward-looking leaders to reduce greenhouse gas emissions generated from office operations. WWF’s Low-carbon Office Operation (LOOP) programme helps monitor office emissions and the Low Carbon Manufacturing Programme (LCMP) aims to reduce carbon emissions generated by manufacturing facilities and develop environmental social governance for managers.
Hui Feng Zhang, HSBC’s Head of Corporate Sustainability in Asia-Pacific believes that as a global commercial bank, HSBC has a unique role in supporting the industry’s move towards sustainability in the global supply chain. Mr. Zhang said: “HSBC is committed to helping finance the shift to a low-carbon economy. In order to facilitate this important sustainability agenda, we have partnered with WWF-HK to develop Hong Kong’s first sustainability support programme for the fashion industry – “Making Zero Impact Fashionable.” We will work with the industry to help turn the sustainability agenda into action and value for the sector.”
According to the “Pulse of the Fashion Industry 2017 Report,” released jointly by the Boston Consulting Group and the Global Fashion Agenda, the fashion industry produces 1.7 billion tonnes, or about five per cent of global CO2emissions annually. It is responsible for extensive water use and pollution, in addition to producing 2.1 billion tonnes or 6-7% of global waste annually.
“The industry’s present business model is an obvious contributor of stress on natural resources. If production and consumption of textile and apparel follow their current trajectories, the industry’s environmental footprint will continue to expand and negatively impact the planet, specifically in areas of water use, energy and greenhouse gas emissions, use of chemicals and generation and waste disposal,” Ms. Ho said.
WWF andHSBC expect the “Making Zero Impact Fashionable” initiative to generate new ideas and solutions to address the pressing challenges of the fashion industry, and reduce the environmental impact from the entire textile and apparel supply chain.