Karachi, Pakistan, October 4, 2018—IFC,
a member of the World Bank Group, has signed an agreement with leading
global apparel company, Gap Inc. in Pakistan to boost resource efficiency
in its operations and drive long-term sustainability.
Under the agreement—the first of its kind in Pakistan’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.
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.
“Gap Inc. continues to invest in water, energy and resource efficiency
programs that improve environmental and business performance,” said Christina
Nicholson, Director of Environmental Impact, Global Sustainability at Gap
Inc. “In partnership with IFC, this program will address key impact areas,
improve performance and deliver on our environmental impact reduction commitments.”
Pakistan is the fourth-largest global producer of cotton, with nearly 60
percent of its exports textile related. Textile revenues account for 9
percent of Pakistan’s GDP, but the industry also consumes almost 70 percent
of the country’s industrial water. A recent IFC study found Pakistan’s
textiles sector could save nearly 22 percent of its energy consumption
and boost productivity by implementing cleaner production practices.
The agreement also draws extensively on knowledge and best practice from
IFC’s Partnership for Cleaner Textiles (PaCT) program, which was successfully
implemented in Bangladesh’s textile sector in 2017 and has helped cut
its water consumption and greenhouse gas emissions.
“Reducing the consumption of resources is key to improving efficiency
and increasing productivity,” said Nadeem Siddiqui, Country Manager, IFC
Pakistan. “We hope to replicate PaCT’s success in Pakistan and demonstrate
the importance and benefits of such measures in helping to improve sustainability
and mitigate climate change.”
The MENA Regional Resource Efficiency (REFF) program has been made possible
with support from IFC’s development partner, Australia’s Department of
IFC, a member of the World Bank Group, is the largest global development
institution focused on the private sector in emerging markets. Working
with more than 2,000 businesses worldwide, we use our capital, expertise,
and influence to create markets and opportunities in the toughest areas
of the world. In FY17, we delivered a record $19.3 billion in long-term
financing for developing countries, leveraging the power of the private
sector to help end poverty and boost shared prosperity. For more information,