PVH Collaborate with HSBC for Sustainable Supply Chain Finance Programme
The parent company of Calvin Klein and Tommy Hilfiger, PVH Corp, and HSBC Bank USA have announced a new partnership in which they will collaborate on a sustainable supply chain finance programme.
The agreement will grant PVH suppliers access to funds based on a set of environmental and social goals, including a safe working environment, employment difficulties, and benefits.
The progress of suppliers will be monitored against PVH's Human Rights and Environmental Supply Chain criteria, while the group's performance evaluation standards will be measured using industry-backed methodologies, such as the Social Labour Convergence Program (SLCP).
As it seeks to expand its expertise in sustainable supply chain finance programmes, HSBC announced it would serve as a key financing partner in providing cash based on the utilised requirements.
Sarah Clarke, PVH’s chief supply chain officer, said:
"PVH’s commitment to environmental stewardship and enhancing human rights in our supply chain is core to our Forward Fashion strategy.
“The availability of accessible financing is pivotal to ensuring our suppliers are empowered to invest back into their businesses and people and contribute to our collective goal of creating an innovative and responsible global supply chain.”
Source: Fashion United
