PVH Corp, the parent company of Calvin Klein and Tommy Hilfiger, has announced a new partnership with HSBC Bank USA, which will see the duo collaborate on a sustainable supply chain finance programme.
The partnership will provide PVH suppliers with access to funding based on a series of environmental targets, as well as social elements such as a safe working environment, employment issues and benefits.
Suppliers’ progress will be measured against PVH’s Human Rights and Environmental Supply Chain standards, while the group’s performance assessment standards are to be measured using industry-backed tools, including the Social Labour Convergence Program (SLCP).
HSBC said it will act as a key financing partner in providing capital based on the utilised standards as it looks to build on its expertise in sustainable supply chain finance programmes.
“PVH’s commitment to environmental stewardship and enhancing human rights in our supply chain is core to our Forward Fashion strategy,” said Sarah Clarke, PVH’s chief supply chain officer, in a release.
Clarked added: “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.”