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HSBC engages apparel sector's transitioning to circular economy

October 06, 2021 00:00:00

Participants in a webinar on 'Transitioning towards a circular economy for the apparel sector' organised by HSBC Bangladesh on Tuesday

HSBC Bangladesh organised a webinar on 'Transitioning towards a circular economy for the apparel sector' on Tuesday, highlighting the apparel sector's role towards sustainable fashion amidst the post COVID-19 era, says a statement.

Circular fashion industry is a fast-growing movement to reuse and recycle all materials, eliminating waste and pollution and regenerating the environment in a "circular model".

Speaking at the event, Md. Mahbub ur Rahman, Chief Exe-cutive Officer, HSBC Bangladesh, said, "As a responsible global bank, HSBC is committed to the transition to a global net-zero economy by 2050. With a goal to ensure sustainable fashion and encourage a circular economy, we look forward to partnering with our customers, industry players and key stakeholders in mobilising finance and accelerating innovation to lead the transition to net-zero carbon emission."

GihanPalihena, Director, Asia Product Supply Chain, South Asia, Kontoor Brands, said, "Investing in people, developing talent and skills and understanding the value of data and speed are all key to being a leader in market."

Kevin Green, Country Head of Wholesale Banking, HSBC Bangla-desh, added, "The textile and garment sector is growing strongly in the post-pandemic era and the transition to a circular model, with reuse and recycling, is a really important shift towards sustainability. As more businesses plan to achieve net zero and their customers become increasingly pro-sustainability, the future of the industry is most likely to thrive."

Nikhil Hirdaramani, Director, Hirdaramani Group; Kutubuddin Ahmed, Chairman, Envoy Textiles Ltd. and Envoy Group; Ranjan Mahtani, Founder and Executive Chairman, Epic Group; Lindsey Hermes, Head of Enterprise Solutions, Serai; Laura Galvin, Regional Head of International Markets, Commercial Banking Asia-Pacific, HSBC; and Lucy Acton, Senior ESG Analyst, HSBC Global Research, also spoke.

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