A platform of registry showcasing sustainability credentials of small businesses in the textile industry has been launched, making it easier for these firms to enter new markets and even explore financing opportunities.
The International Trade Centre (ITC), the joint agency between the United Nations (UN) and the World Trade Organization, has created the Certified Business Registry (CBR), the world’s first global repository of sustainable businesses by the UN.
The UN CBR enables buyers and investors to easily identify suppliers with sustainability credentials or validate the sustainability claims of existing suppliers.
“(This) is a new module of Standards Map (https://standardsmap.org/) designed to facilitate global recognition of the sustainability credentials of small businesses,” the ITC said.
The world’s largest database for sustainability standards provides free, accessible, comprehensive, verified and transparent information on over 300 standards for environmental protection, worker and labor rights, economic development, quality and food safety, as well as business ethics.
“Pooling data on sustainability standards and on small businesses working to align to those standards is a big step towards making the low-carbon transition a just and inclusive one,” ITC Executive Director Pamela Coke-Hamilton said in a statement.
Sustainability enablers can also benefit from CBR as they can access tools like the data visualization application and an application programming interface (API) for data sharing with authorized partners.
This groundbreaking initiative was unveiled at the recent UN Climate Change Conference (COP28) in Dubai. It sees leading sustainability standard organizations in the textile and garment sector collaborating with the ITC to create the global repository of sustainable businesses.