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SAN FRANCISCO - Denim giant Levi Strauss & Co has revealed the results of its work with the HSBC banking group to help its suppliers obtain lower cost finance for sustainability improvements.

The partnership provides Levi's suppliers with access to HSBC's Sustainable Supply Chain Finance (SSCF) programme to finance new investments that can improve sustainability performance.

Launched in February 2021, to help suppliers address the financial challenges of the COVID-19 pandemic, it led to 21 suppliers receiving funding worth a total of US$142.4 million - out of an available US$150 million - in its first year.

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