CITI’s Webinar Sheds Light on ESG Reporting Frameworks in Textile Industry

In a commendable move, the Confederation of Indian Textile Industry (CITI), a prominent trade body representing the Indian textile sector, recently orchestrated a webinar. This digital event was meticulously designed to foster a deeper comprehension of ESG (Environmental, Social, and Governance) requirements specifically tailored for the textile and apparel domain.

Unravelling the Intricacies of ESG Reporting Frameworks

The webinar, which zeroed in on ‘ESG Reporting Frameworks’, delved into the nuances of reporting frameworks and their requisite stipulations.

• The primary objective was to offer the industry a panoramic view of the diverse reporting frameworks currently at their disposal.
• These encompassed notable frameworks such as the Global Reporting Initiative, UN Global Compact, National Guidelines on Responsible Business Conduct, and Business Responsibility and Sustainable Reporting, among others.

Shankar Venkateswaran, the Managing Partner of Sustainability Integration and the Co-founder of Ecube, took the mantle to elucidate the various reporting frameworks. He underscored the significance of these frameworks, particularly in relation to the multifaceted requirements the industry might encounter. Factors influencing these requirements include the specific region of operation, the clientele they cater to, and the nature of the products they produce.

Insights from the Buying Community

The webinar wasn’t just a one-sided affair.

• Representatives from the buying community, including entities like Triburg and New Times Group, voiced their observations.
• New Times Group, in particular, spotlighted concerns from users, especially concerning the myriad of requirements and associated costs.
• A pressing issue raised was the ambiguity surrounding how costs should be equitably distributed between buyers and users.

Triburg, playing a pivotal role as a facilitator for numerous export units, also shed light on the challenges they’ve discerned from the suppliers’ end.

Engaging the Audience

For our esteemed readers, what are your thoughts on the ESG reporting frameworks? How do you perceive their impact on the textile and apparel industry? Your insights and experiences can provide a richer understanding of this evolving landscape. Share your views in the comments below.