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IFC to help Pakistan conserve energy

Oct 10, 2018
IFC to help Pakistan conserve energy

The International Finance Corp (IFC), a member of the World Bank Group, yesterday said it will help textile manufacturers in Pakistan slash energy consumption and greenhouse gas emissions to boost their productivity and efficiency. IFC signed an agreement with US-based clothing and accessories retailer Gap Inc to increase resource efficiency in its operations in Pakistan and drive long-term sustainability. Under the agreement, which is the first of its kind in the country’s textile industry, IFC’s Advisory Services will assess the use of resources at Gap Inc’s supplier factories in the country and help them implement efficiency measures to reduce the use of water, energy, chemicals and other resources. This will also help Gap Inc improve competitiveness and sustainability.

A recent IFC study found that Pakistan’s textiles sector could save nearly 22 per cent of its energy consumption and boost productivity by implementing cleaner production practices. Nadeem Siddiqui, country manager of IFC Pakistan said reducing the consumption of resources is key to improving efficiency and increasing productivity. “We hope to replicate PaCT’s (IFC’s programme for cleaner textiles) success in Pakistan and demonstrate the importance and benefits of such measures in helping to improve sustainability and mitigate climate change,” an IFC’s statement quoted Siddiqui as saying.

Pakistan is the fourth-largest global producer of cotton, with nearly 60 per cent of its exports textile related. Textile revenues account for nine per cent of the country’s GDP, but the industry also consumes almost 70 per cent of the country’s industrial water. Christina Nicholson, director of Environmental Impact, Global Sustainability at Gap Inc said the company continues to invest in water, energy and resource efficiency programmes that improve environmental and business performance. “In partnership with IFC, this programme will address key impact areas, improve performance and deliver on our environmental impact reduction commitments,” Nicholson said in the statement.

The agreement is part of IFC’s global efforts to promote resource efficiency measures in the private sector, which provides savings for companies, improves competitiveness globally, and significantly reduces environmental impacts. It also draws extensively on knowledge and best practice from PaCT, which was successfully implemented in Bangladesh’s textile sector in 2017 and has helped cut its water consumption and greenhouse gas emissions.