Cir(053)/2023                                                                           28^th April 2023

 

Committee:

 

Sub: Invite for an Awareness Webinar on Climate Fit – Introduction to Sustainability Metrics (ESG) for the textile industry – 4^th May 2023 – reg.

 

Dear Sirs/Madam,

 

We are pleased to inform that CITI is working towards addressing the growing need for creating better awareness and capacity building of the textile industry to meet the emerging requirements of the importing countries on ESG. As one of the leading suppliers of textiles to the world, India will not only need to have a strong action plan demonstrating commitments but also work towards climate leadership in textiles.

 

Sustainability is becoming increasingly important for industry’s overall performance and in building the resilience needed to manage risk and disruption in today’s rapidly evolving international business landscape. There is a strong correlation between emerging market companies’ scores in environmental, social, and governance (ESG) indexes as well as key financial and valuation metrics.

 

Companies with strong reputations for meeting ESG challenges in emerging markets are rewarded with major growth opportunities, like they enjoy higher customer satisfaction, gain better access to markets, investment capital, and coveted talent. They have greater opportunities to change the dynamics in their industries by launching new, climate-driven business models. 

 

In this new matrix, an important tool is the reporting requirement that will soon be mandatory for the textile suppliers exporting goods to certain countries. As the downstream suppliers in India are expected to measure and report their own emissions while exporting, there is a need for monitoring and documenting the required data in this regard, create benchmarks, and encourage target based impact assessment of these by the domestic textile industry.

 

To help the textile sector better understand these requirements, CITI will organise a series of awareness workshops. The first in the series is being organised with ESG experts, Ms. Namrata Rana, Director, Strategies & Brand, Futurescape and Professor Utkarsh Majmudar, Member, Board of Directors, IIM Raipur who will be taking a Session on Introduction to Sustainability Metrics for the textile industry on Thursday, 4^th May 2023 at 2.30 pm to 4.30 PM. The awareness series on Climate/ Sustainability for the stakeholders of the textile industry is particularly aimed at MSMEs to create Climate Leadership in the Indian textiles. 

 

We have requested Ms. Prajakta L Verma, Joint Secretary, Ministry of Textiles, for giving her perspectives on the areas of focus from the National policy point of view

 

This Webinar will help the companies in the following ways:

 

1. Reduce costs by managing your resources more efficiently: Companies can take steps today that benefit both your business and the climate by creating an ESG baseline.

 

2. Manage Business Risk: Build a more resilient business and better protect yourself against climate-related damage, disruptions, and closures.

 

3. Gain A Competitive Advantage: Become a leader in the fight against climate change. Show investors, employees, and customers how you’re adopting ambitious goals.

 

4. Enhance Access To Capital: Keep insurance and lending fees affordable and stay attractive to investors by reducing your exposure to climate-related risks. Grow Your Business And Brand

 

There is no registration fee, however, prior registration is mandatory for attending the above webinar. For registration, we are giving below the registration link:

 

https://us02web.zoom.us/meeting/register/tZMkduusrjsvE9XjaZy6Phdlxg46bn_p0CeF

 

We request you to kindly block your diary and register yourself for the above awareness webinar.

 

Thanking you,

 

Yours faithfully,

 

 

Chandrima Chatterjee

Secretary General