June 29, 2008
Efficiency = Economics For HK’s Textile Industry
WWF and a small number of factory owners in Hong Kong and southern China are developing a carbon labeling system to measure how effective factories have been in reducing CO2 emissions, AFP reports. The system will be similar to the labeling system used to measure the efficiency of refrigerators.
One mill owner says implementing the scheme, which will analyze the company’s success in reducing its overall CO2 emissions, could help reduce the company’s energy bill by 10 to 20 percent.
The move could also bring business to textile mills in Hong Kong–a city where more than 30 mills thrived just 20 years ago but where only two operate today.
WWF Hong Kong believes the program will allow participants to prove to Western buyers their carbon credentials.
The U.S. government is sponsoring a program that pays environmental-services companies to reduce emissions from China’s factories. The program is open to participants throughout Asia and elsewhere, as long as they have a legal presence in Hong Kong, which has a more transparent legal and financial systems than China.
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