Top apparel exporter Brandix Lanka Limited has been awarded a Gold rating for the second consecutive year in the 2011 edition of the coveted 'Sting Corporate Accountability Index' released by the Lanka Monthly Digest (LMD) magazine in association with Sting Consultants.
Brandix has obtained the 10th overall position among 74 entities in the index securing 69.75 points. It is the highest ranked company representing the Apparel, Footwear and Textiles sector, which the Index rates as one of the six 'above average' sectors for Corporate Accountability.
The criteria taken into consideration by a team of expert judges in awarding the rankings included measurement and disclosure; stakeholder engagement; policy coverage; management and governance; identifying impacts, risks and opportunities and corporate values.
"This endorsement of Brandix's corporate accountability practices by a reputed independent entity, based on broad criteria, demonstrates the high degree of transparency and continued commitment to best practices at Brandix," a spokesperson for the Brandix Group said. "This rating confirms the high ethical standards maintained by the Group in multiple aspects of business."
Brandix was also among the top 10 corporate entities and received a Gold rating in the 2010 Sting Corporate Accountability Index. The company's superior ranking amongst its peers, also reflects its stature as the thought and process leader of the industry, added the spokesperson.
Scores for the Sting Corporate Accountability Index are derived from a proprietary model developed by Sting Consultants to reflect a holistic and integrated approach to CSR, sustainability and governance. The Index was launched with the intention of stimulating improvements in Corporate Accountability among business entities.
Brandix is at the forefront of national and global efforts to adopt eco-friendly manufacture. The Group was honoured with the country's apex award for energy conservation at the first ever Sri Lanka National Energy Efficiency Awards in 2010. Its Eco Centre at Seeduwa is the first Green Apparel Factory in the world to be rated Platinum under the Leadership in Energy and Environmental Design (LEED) Green Building Rating System of the US Green Building Council (USGBC) and has been commended by the United Nations Industrial Development Organization (UNIDO) as a global benchmark for sustainable production. Brandix has succeeded in reducing its Carbon footprint by 17 per cent in 2010 and plans an overall 30 per cent reduction by 2012.
Among the other key areas of focus for Brandix in the sphere of Corporate Accountability include its commitment to initiatives to provide access to safe water for needy rural communities and its support to the National Blood Transfusion Service (NBTS). The Group has donated more than 1,000 water supply projects to communities and contributed to improve sanitation facilities in and around its manufacturing plants. The Group was also commended by the NBTS for being the largest blood donor by a single entity in Sri Lanka in the year 2010.
The pioneer of the concept of 'total solutions' in Sri Lanka's apparel sector, Brandix is a preferred solutions provider to some of the world's leading apparel brands, including Victoria's Secret, PINK, Gap, Banana Republic, Marks & Spencer, Lands' End, Abercrombie & Fitch, Hanes and Express. The Group specializes in casual bottoms, intimate and active wear, textiles, knitted fabrics, sewing and embroidery thread, accessories and hangers, and also offers wet processing and finishing and fabric printing.