Pioneering Pathways: Decarbonising the Panipat Textile Cluster

An ambitious decarbonisation initiative led by the Foundation for MSME Clusters (FMC), supported by HSBC and the Centre for Responsible Business (CRB), has successfully demonstrated sustainable practices in Panipat's textile cluster. The project achieved significant reductions in CO2 emissions and unlocked substantial cost savings, providing a scalable model for MSMEs.

An ambitious decarbonisation initiative spearheaded by the Foundation for MSME Clusters (FMC) and supported by HSBC has concluded with measurable success in Panipat's textile cluster. The project, executed in collaboration with the Centre for Responsible Business (CRB), highlights that sustainability measures can be economical for MSMEs.

Titled 'Demonstrating Decarbonisation Pathways through Pilots in Textile SMEs,' the venture achieved a potential reduction in annual emissions of up to 5,655.60 tonnes of CO2. It also developed proposals worth INR 39.94 crore for green financing and generated annual cost savings of 6.47 crore across participant enterprises.

FMC's practical approach engaged 40 MSMEs, providing 16 pioneering enterprises with comprehensive support, including technology linkages and access to green finance. The project also showcased how Perceptions towards sustainability have shifted, as cost efficiency and competitiveness have improved.

(With inputs from agencies.)