09 September 2022, Mumbai:
The textile sector, which ranks among the most polluting in the world, must look into sustainable practices to reduce resource consumption and pollution. Thus there is greater scope for Textile companies as one would reckon that by bringing down total energy use per unit of output at manufacturing plants using renewable inputs such as solar, hydroelectric, and landfill gas. Another argument for gaining currency is the credible use of decentralized renewable energy which promises to modernize and catalyze the textile industry's growth. Also, the good news is that it clearly has the potential to improve the livelihoods of millions by being a sector generating huge jobs creator & an economic force multiplier.
Time to invest in renewable energy expansion
Textile trade is now started to look at strategic investments in renewables to boost energy independence and reduce carbon footprint. Investing in renewable energy is a good long-term strategy for fund managers and green funds alike. Corporates/groups partaking in interest in the renewable energy sector reckon that it is poised to play an absolutely critical/pivotal part in the future as technology sustainably keeps advancing and demand for clean energy will only develop. A good bit is controlling carbon emissions, large-scale renewable power projects also provide demonstrable economic benefits for multi-stakeholders investors and borrowers alike.
Green Funds & Green Investing
Green Investments — Green investments typically are businesses or sovereign/pensionary funds piggy-betting on the urgent need to reduce harmful pollutants or use resources more consciously the clamor for which keeps getting louder. This paper focuses on various green funds, and green investing companies currently investing in reducing carbon emissions across the textile sector. Need of the hour is to shift to sustainable green power in order to remain internationally competitive within this turbulent market environment,” note Richard König, CEO of Enery, and Lukas Nemec, COO of Enery.
"Global players like Lenzing group in order to reduce its carbon emissions even further in line with our strategic targets, aiming in the future to rely to an even greater extent on electricity generated from renewable energies. Concepts such as these will make us less dependent on global energy markets in the medium to long term and further support our transition from a linear to a circular economy model,” comments Stephan Sielaff, Lenzing Group CEO. In 2019, Lenzing became the first fiber manufacturer to set a target to reduce its carbon emissions by 50 percent by 2030 and to be climate neutral by 2050.
Need of the day
One data point which is stood out for us while presenting this article is that" The economic rationale for investing in clean energy is clear and the message is written loud & clear on the walls".
There is an urgent need for efficient and trend-setting interaction between energy companies, regional policymakers, and industry, with a clear win-win situation for all parties involved. Furthermore, renewable energy is a panacea to combating global climate change as the crisis is already upon us.
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