{"id":17934,"date":"2014-09-15T11:26:48","date_gmt":"2014-09-15T15:26:48","guid":{"rendered":"http:\/\/wordpress-367309-1145705.cloudwaysapps.com\/?p=17934"},"modified":"2014-09-15T11:26:48","modified_gmt":"2014-09-15T15:26:48","slug":"tau-transformational-fund-address-garment-factory-conditions-se-asia","status":"publish","type":"post","link":"https:\/\/sustainablog.org\/articles\/tau-transformational-fund-address-garment-factory-conditions-se-asia\/","title":{"rendered":"TAU Transformational Fund to Address Garment Factory Conditions in SE Asia"},"content":{"rendered":"

\"a<\/a><\/p>\n

It\u2019s been awhile since I shared with you happenings in the sustainable fashion industry. And one of the biggest headlines of the summer was TAU Investment Management\u2019s announcement<\/a>\u00a0that it plans to invest millions to improve and\/or upgrade apparel and textile supply chains. This is hopeful news in response to last year\u2019s tragic loss of workers\u2019 lives in garment factories<\/a>. Activists, garment factory owners, and families demanded some changes be made, and TAU responded.<\/p>\n

The private equity firm\u2019s senior strategic advisor, Dr. James Gifford, told those of us attending the Ethical Fashion Forum\u2019s SOURCE<\/a> webinar which steps are being taken to “transform” mid-level factories throughout Southeast Asia\u2014including Vietnam, Cambodia, Bangladesh and Indonesia. The company will tap into its “Transformation Fund” to spend between $15 to 40 million per factory to overcome social, environmental and efficiency challenges. Continue reading to learn at least six ways TAU is hoping their investments will benefit some of the industry\u2019s top suppliers.<\/p>\n

Cool Fact: Tau is the 19<\/i>th<\/i><\/sup> letter of the Greek alphabet and symbolizes life and\/or resurrection.<\/i><\/p>\n

Big Returns on Small Investments<\/h3>\n

Unfortunately, the fashion industry has gained a reputation of not being so “friendly” to its employees or the environment. Yet, optimists like Dr. James believe this is an “inflection turning point,” and it\u2019s time we resolve past mistakes. Here\u2019s what TAU doing to lead the charge:<\/p>\n

    \n
  1. Overhaul Out-of-Date Machinery<\/b>: A portion of investments will be used to purchase new, more energy-efficient sewing machines and generators and boilers needing less water. There also are plans to install solar panels, upgrade energy and water pipes, and purchase land for relocation when necessary. All of these changes will use fewer natural resources and limit a dangerous cycle of over-consumption.<\/li>\n
  2. Provide Education and Trainings for Employees<\/b>: Evidence shows reduced worker turnover and staff loyalty are key determinants of a business financial return. Therefore, TAU plans to offer fire and safety trainings, workers\u2019 rights courses and health care initiatives to employees. Dr. James went on to say empowering women to managerial positions is another step towards creating better factories.<\/li>\n
  3. Make Operational and Managerial Changes<\/b>:In an effort to reach leading apparel brands, the investment firm shares their internal expertise with factory owners. This includes introducing industrial technology (IT) strategies and advanced marketing and product promotions; implementing better human resource training to attract skilled professionals.<\/li>\n
  4. More Access to Credit<\/b>: Many banks feel more confident to give loans to factory owners with TAU\u2019s financial backing. The additional funding helps owners to accelerate their business\u2019 growth and ultimately reach larger apparel brands.<\/li>\n
  5. A Meaningful Minority<\/b>: The daily hands-on partnership of TAU with owners helps to ensure confidence from suppliers and brands. All parties can trust the best practices are met, while owners can relinquish the majority of control of their business(es).<\/li>\n
  6. Better Brand Relationships & Networking<\/b><\/a>: With more sustainable, efficient equipment and systems in place, brands can focus on speeding up their products\u2019 time to market and give customers what they want in terms of demand and delivery.<\/li>\n<\/ol>\n

    The bottom line is fashion brands need suppliers to produce their garments. Suppliers need investors with strategies in place to help them create clothing that doesn’t harm people or the environment.<\/p>\n

    What other changes do you think need to be made to improve fashion\u2019s supply chains? I\u2019d love to hear from you.<\/p>\n

    Image credit:<\/strong> ILO in Asia and the Pacific at Flickr<\/a> cc<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

    TAU Investment management is investing millions in Southeast Asian garment factory sustainability & safety after deadly disasters last years.<\/p>\n","protected":false},"author":125,"featured_media":17936,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[36,13],"tags":[1838,7223,7226,7224,404,518,2564,4578,7222,7225,7227,1848],"yoast_head":"\nFunds Available for Addressing Garment Factory Issues<\/title>\n<meta name=\"description\" content=\"TAU Investment management is investing millions in Southeast Asian garment factory sustainability & safety after deadly disasters last years.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/sustainablog.org\/articles\/tau-transformational-fund-address-garment-factory-conditions-se-asia\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" 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