Low cost loans available for textile sustainability efforts

Stakeholders

EHS professionals

Entrepreneurs

Financial investors

International policy makers

National and regional policy makers

IFC’s PaCT - Partnership for Cleaner Textiles - will provide access to easy and low cost loans for textile industry stakeholders investing in clean energy projects.

Just what the doctor ordered, we feel. If a transition to clean energy can significantly cut down emissions from the industry, as a McKinsey report suggested, any mechanism that can enable a large-scale transition to sustainable energy is indeed something that has the power to move the needle.

PaCT has helped more than 338 textile factories in Bangladesh to reduce fresh-water consumption by 25 million m3/year and cut wastewater discharge by 21.08 million m3/year. These factories now save 2.5 million MWh/year in energy and avoid greenhouse gas emissions of up to 489,796 tons/year of CO2 (about half a million tons). Impressive.

(By the way, the PaCT web site also has a valuable section on Resources, where they have provided hundreds of useful references, case studies, data sheets and more - https://www.textilepact.net/resources.html )

A question come up with regard to PaCT's efforts: It appears that PaCT has a high focus on Bangladesh; wondering why it has not extended such activities to a few other countries such as Vietnam and India which are also large textile production countries in the same region.