International Finance Corporation (IFC), a member of the World Bank Group, has developed PaCT Portal, a web tool to help calculate resource consumption in the country’s readymade garments(RMG) industry. IFC on Monday launched the portal at the PaCT annual meeting held in the city, said a press release.
This initiative comes as ‘IFC-led Partnership for Cleaner Textile (PaCT II)’ enters its third year with eight partners working together to reduce the environmental impact of the export-oriented sector. Bangladesh is the second largest apparel exporter in the world, next only to China, according to the World Trade Organization.
Apparels account for more than 80 percent of the country’s exports. The data-driven monitoring software will provide real-time analytics for readymade garment factories, helping them in their efforts to improve use of resources, such as water and energy. Speaking at the launching function, IFC Country Manager for Bangladesh, Bhutan and Nepal Wendy Werner said the textile industry in Bangladesh continues to be a priority for IFC.
“Through programs like PaCT, we hope to contribute towards improving sector competitiveness by promoting resource efficiency through innovative ways and evolving with global trends,” he added. At a panel discussion in the lunching function focused on issues, such as low-carbon opportunities in the textile industry.
Panelists also highlighted how emerging consumer behavior and choice are now shaping the global apparel market. Supported by Denmark, Australia, and the Netherlands, PaCT’s multi-stakeholder partnership has already helped the industry save 25 billion liters of water and 2.5 million megawatt hours of energy annually. Launched in 2018, PaCT II works with 132 factories to adopt state-of-the-art efficiency and reduce water, energy, and chemical use to meet global standards.