The two-day international conference on low-carbon solutions for the textile industry in Asia-Pacific Economic Cooperation (APEC) economies held in Taipei, Taiwan, saw several consensus being reached by the APEC members for green solutions in the region.

The programme focusing on intelligent low-carbon operations for textile firms in APEC region is Taiwan’s only APEC-funded project that the organization approved last year, The China Post reported.

Around 60 experts from public and private sector of Taiwan, and 20 other representatives from 11 member countries shared their views on diverse topics at the APEC-funded conference with motto“innovating for sustainability”.

The global event began with sharing of ideas and experiences with regards to the Low Carbon Inventory Questionnaire (LCIQ). Several participants shared their success stories on institutional investors risk assessment of investment targets and supply chain and sustainable policies.

The next session hosted discussions over future of the industry in the wake of low-carbon economy and sustainable development. The session also proposed innovative business models for the textile industry.

After pondering on several issues, the participants agreed on several matters like simplifying computation of LCIQ and other tools used for determining carbon emissions of textile firms, and applying uniform norms for various countries.

They also agreed that the environmental and social equity and corporate governance assessment report of a textile firm shall be considered as one of the determining factors, while taking institutional investment decision.

The participants also agreed on adherence of a systematic manner for evolving new solutions for low-carbon textile items.

They also agreed that the industry should focus more on finding solutions to boost the profitability of business, while not compromising on environmental safety.

Lastly, the conference also arrived at a consensus for allocating more resources towards research and development for developing a low-carbon economy, and that APEC shall serve as a base for integrating industrial innovations in the region.