Simple improvements in wet processing can increase sustainability and save the textile industry billions of dollars

2021-11-24 03:16:00 By : Ms. Jessie Zhou

According to a report by Planet Tracker, wet processors in the textile, apparel, and apparel supply chain can make simple and practical improvements to improve sustainability and reap financial benefits.

The report was prepared in cooperation with the Apparel Impact Institute. The report stated that a one-time investment in a process that reduces the environmental footprint of wet processing facilities can save 11.5% of water annually and reduce greenhouse gas emissions by nearly 11%, while saving An average of US$369,500 per year. Planet Tracker said that the return on this investment may take less than 14 months.

If such improvements are implemented throughout the industry, annual savings of US$6.1 billion can be achieved.

According to the report, the change is simple to implement. They include installing meters, reusing cooling water and wastewater, maintaining steam traps, and improving insulation.

Factors such as the inability to obtain information on how to make changes, bank loans, understanding of potential costs and environmental benefits, and insufficient pressure from regulators and consumers hinder such improvements.

With the increasing number of sustainability issues in various industries and increasing attention to reporting and addressing Scope 3 emissions in the supply chain, the pressure to make changes is increasing. According to the report, these issues should encourage companies to assist their suppliers in making changes.

Transparency and scope 3 emissions are both issues that the textile industry is trying to solve. According to the 2021 Fashion Transparency Index released by Fashion Revolution, 62% of the 250 largest brands have issued sustainability reports on their own brands, but only about a quarter have issued reports on the level of processing and manufacturing.

Regarding emissions, although most brands have reduced emissions in Scope 1 and 2, more than 90% of the emissions in the industry fall into Scope 3. A recent report by the Climate Commission and Textile Exchange found that there has been much progress in improvements in this area. micro.

Planet Tracker reports that companies can issue ESG, sustainability or green bonds to fund wet processors. Brands can also establish long-term relationships with suppliers to help them obtain project financing. According to the report, the company should also promote consistent environmental transparency in its operations and those of its suppliers.

The report shows that investors can help advance improvements by directly investing in textile manufacturers’ supply chains and using joint ventures or joint debt to influence change. They can also put pressure on brands to increase the transparency of their supply chain and invest in sustainable improvements. According to the report, they can also seek partnerships with organizations such as Apparel Impact Institute to seek outside investment opportunities.

"This creates a huge opportunity for investors to promote the critical environmental transformation of wet processors through a series of financing mechanisms and other parts of the textile manufacturing chain (such as apparel manufacturers)," said Senior Vice President Dr. Catherine Tubb. Investment analyst at Planet Tracker and author of the report.

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