Top apparel exporter ranked 6th among 66 companies and corporations assessed for latest index
Top apparel exporter Brandix Lanka Limited has been awarded a Gold rating and been ranked sixth among 66 of Sri Lanka's largest business entities in the latest Corporate Accountability Index released by Sting Consultants in association with Lanka Monthly Digest (LMD).
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The Group, which is globally recognised for its commitment to eco-friendly manufacturing, scored 73.4 points at the assessment for the index, well above the sample average of 44.1, and is the only apparel exporter among the 66 companies and corporations ranked.
Companies in the LMD 50 ranking, 10 key State-owned Enterprises and six of the largest private companies were assessed for the Sting Corporate Accountability Index, presented for the second time. These entities were assessed on Corporate Values; Stakeholder Engagement; Identifying Impacts, Risks and Opportunities; Policy Coverage; Management and Governance and Measurement and Disclosure.
Introducing the Index, an independent consultant has noted that businesses that take the lead and create sustainable value are those that consider a fully-integrated approach to value creation through effective identification, understanding and engagement of all their stakeholders, and that this strategic approach to Corporate Accountability is the new business model.
Commenting on the Group's high rank in the Corporate Accountability Index, Brandix CEO Ashroff Omar said: "An independent, unsolicited assessment of this nature carries much value for the corporate entities under the microscope, because they help identify what is done well, and what needs to improve. As a leading player in the apparel sector, which is always under scrutiny, we welcome this index and are encouraged to be awarded a Gold rating."
Among the key areas of focus for Brandix in the sphere of Corporate Accountability are its internationally-recognised dedication to eco-friendly manufacture and its consistent commitment to CSR projects aimed at facilitating access to safe water for needy rural communities. The bulk of the Group's CSR initiatives are conducted under the theme 'Water is Life.' Over the past two years, Brandix has completed 1,200 micro water supply projects in Sri Lanka, built and commissioned an apparel factory in the Batticaloa District to help in its post-conflict rehabilitation and contributed substantially to the needs of internally displaced persons and those affected by the conflict.
Brandix is also at the forefront nationally and globally in efforts to adopt eco-friendly manufacturing. In September 2008, one of the Group's manufacturing plants became the first Platinum rated Green Factory in the world under the LEED (Leadership in Energy and Environmental Design) of the US Green Building Council (USGBC).
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 Gap, Marks & Spencer, Victoria's Secret, NEXT, Lands' End, Abercrombie & Fitch, Old Navy and Tommy Hilfiger. 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.