Home / Knowledge / News / Apparel/Garments / IFC partners Sri Lanka's JAAF to promote energy efficiency
IFC partners Sri Lanka's JAAF to promote energy efficiency
17
Jan '14
International Finance Corporation (IFC), a member of the World Bank Group, has joined hands with Sri Lanka’s Joint Apparel Association Forum (JAAF) to promote energy conservation in the apparel sector, and thereby cut operating costs, increase profits, and reduce greenhouse-gas emissions, the IFC said in a press release.
 
A recent investment-grade energy audit of seven apparel factories projected an electricity savings potential of 10 to 50 percent if conservation methods are adopted. Additionally, if all identified energy conservation measures are implemented by the audited factories, carbon dioxide emissions can be reduced by approximately 16 percent annually, says the statement.
 
“Simple changes, including the use of energy efficient lights, air conditioners, and equipment will help make all the difference in reducing operating costs,” said Tuli Cooray, JAAF’s Secretary General, in the statement.
 
“Other measures like improvements to existing equipment will also boost energy efficiency,” Mr. Cooray adds.
 
The audit also highlighted the benefits of using renewable energy applications like biomass and rooftop solar systems. 
 
The garment sector is one of the biggest industrial employment generators in Sri Lanka, and the sector is also among the largest contributors to Sri Lanka’s export earnings. However, on average, energy costs account for up to 15 percent of total operating costs of an apparel manufacturing unit.
 
“Increases in the cost of electricity and a heavy dependency on imported fuels such as diesel and kerosene directly affect the competitiveness of Sri Lanka’s apparel sector,” said Adam Sack, IFC Country Manager for Sri Lanka and Maldives. 
 
From January to November 2013, Sri Lanka’s textiles and apparel exports were valued at US$ 4.054 billion, registering an increase of 11.6 percent over exports of US$ 3.633 billion made during the corresponding period of 2012, according to the data from the Economic Research Department of the Central Bank of Sri Lanka.
 

Fibre2fashion News Desk - India

Must ReadView All

Courtesy: Delta Apparel

Apparel/Garments | On 31st Aug 2016

Delta Apparel acquires clothing brand Coast

Delta Apparel said it has bought a majority of assets in clothing...

Textiles | On 31st Aug 2016

Trützschler showing new technologies at ITMA ASIA

German textile machinery producer Trützschler will be showing new and ...

Courtesy: Textile Asia

Textiles | On 31st Aug 2016

$350mn worth of deals struck at Textile Asia fair in

The 16th International Textile Asia Exhibition in Pakistan ended with ...

Interviews View All

Priyanka
Studio Priyanka Rajiv

‘To reinvent the age-old tradition of embroidery to suit demographics and...

Abhishek Ganguly
Puma India

‘As a brand, Puma is always looking for new and innovative ways to inspire ...

Vidhyaa Shankar. S
A Ganapathi Chettiar

'The usage of knits is getting into the boundaries of woven fabrics'

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Johan Berlin
InvestKonsult Sweden AB

Investkonsult Sweden AB has been buying and selling second-hand textile...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH
August 2016

F2F Magazine

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


Advanced Search