DBS and RESET Carbon (RESET) have joined forces to accelerate the adoption of eco-friendly and sustainable practices within the apparel, footwear, and textile supply chain. The agreement was reached through a Memorandum of Understanding (MOU) signed at the ReThink HK Sustainable Business Conference & Expo in Hong Kong.
DBS and RESET want to promote sustainability throughout the clothing and textile supply chain, engaging both buyers and suppliers, including small and medium-sized enterprises within Asia’s manufacturing network.
RESET will extend advisory services to AFT brands to assist in lowering carbon emissions within their supply chains, establishing carbon reduction objectives, and enhancing their overall sustainability capabilities. DBS, on the other hand, will provide financial solutions to suppliers, enabling them to invest in technologies that reduce factory emissions, water consumption, and waste.
Moreover, companies can participate in the Carbon Leadership Program (CLP), jointly developed by RESET and the Apparel Impact Institute (AII). This program aids clothing brands and their suppliers in establishing science-based carbon reduction targets, leveraging benchmarking and assessments to create action plans, employing standardized tools, and fostering collaborative processes.
With more than 20 major apparel brands already enrolled in the program, there is the potential to mitigate up to three million tonnes of CO2 emissions annually if the action plans are fully implemented.
Yulanda Chung, representing DBS, emphasised that this partnership underscores their commitment to driving tangible transformations within the apparel sector by providing financial solutions and expertise in resource efficiency.
Liam Salter, CEO of RESET, expressed enthusiasm about collaborating with DBS to develop novel solutions for their clientele and striving towards significant reductions in carbon emissions within supply chains.