WAKEFIELD – What is the responsibility of major financial institutions in facilitating the implementation of more sustainable practices?
Patricia Gomes, HSBC North America’s head of global trade and receivables finance, tells us they have a “huge role to play,” as part of an illuminating and wide-ranging interview conducted at Planet Textiles 2018.
As part of a new series, produced in partnership with event partner Sustainable Apparel Coalition, we will be releasing filmed interviews with key industry figures in the lead up to Planet Textiles 2019, which will be held on 22nd June in Barcelona.
Planet Textiles 2019 will take place at the huge ITMA event, which occurs every four years and brings together representatives for the global textile industry. ITMA 2019 is expected to attract up to 120,000 visitors from 147 countries.
Registration is now open for the 10th edition of the event, with delegates receiving special discounted access to ITMA, along with a limited number of curated tours of the exhibition space exclusively for Planet Textiles attendees.
In her Planet Textiles Pod interview, Gomes explained to host Mike Schragger, founder of the Sustainable Fashion Academy, how HSBC North America has pledged to deliver US$100 billion to sustainable projects by 2030, and that the organisation is “very focused on the apparel sector.”
Last year, in a move which brought sustainability-focused investment to mainstream headlines, HSBC launched a new kind of bond rooted in the UN Sustainable Development Goals (SDGs).
Research commissioned by HSBC at the time found that 68 per cent of global investors intend to increase low-carbon investments in the coming years to accelerate a transition towards a so-called ‘clean-energy economy’.
The US$1 billion of capital raised from the HSBC SDG bond will, the company states, be used to support projects that offer wide-ranging social, economic and environmental benefits which relate to seven selected SDG targets.
When speaking on the 2018 Planet Textiles finance panel, Gomes shared her views on how brands and financial bodies need to adapt, stating: “Prioritisation is essential; instilling a sense of urgency.
“As a financial institution we are having conversations with all our clients about their social and environmental footprint. We also talk to them about the financial mechanisms which can enable them to pass on these values to their suppliers.
“The financial instruments are there. We’re currently in the process of moving from structuring normal bonds into green bonds. The technology is there.”
Planet Textiles 2019 looks set to sell out even quicker than last year’s event, with only 420 tickets available in total. Register now to avoid disappointment.
2019 Speakers will once again be invited to partake in filmed interviews in the Planet Textiles Pod. Interested to speak? Final call for speakers here, and for more detailed information about the event, please visit: www.planet-textiles.com