Latest news with #FSC
Fibre2Fashion
a day ago
- Business
- Fibre2Fashion
Meeting the Demand for Sustainable & Ethical Fashion
Sustainability is no longer a niche concept; it has become a core priority for the fashion industry. From luxury houses to fast-fashion chains, brands are seeking materials and processes that reduce environmental impact, minimise carbon emissions, and uphold fair labour standards. While many labels now claim to be 'green', the reality is that authenticity and accountability matter more than ever. One of the most concrete steps towards ethical fashion is choosing responsible raw materials. Not all fibres labelled 'sustainable' live up to their name if the overall sourcing and production processes are hidden from view. Viscose and lyocell are two cellulose-based materials that have risen in popularity thanks to their balance of performance, renewable sourcing, and lower impact on the planet. They also offer traceability that can help brands strengthen their ethical credentials. When responsibly sourced and produced, both fibres can form part of an ethical, low-impact supply chain. They also offer versatility across various garment categories, from casualwear to luxury, making them particularly appealing to brands seeking ethical solutions without compromising on quality or performance. At Sappi Verve, we supply dissolving wood pulp for viscose and lyocell sourced from forests with recognised certifications. The journey to sustainable textiles starts in responsibly managed forests. These forests are not only vital for protecting biodiversity but also for regenerating ecosystems and reducing the risks associated with deforestation. Making this commitment to transparent, ethical sourcing gives fashion brands and their customers confidence that the materials they use support both human well-being and environmental stewardship. But to truly understand why we should consider these materials in a textile blend, we must first look at the broader framework of ethical fashion—and what it entails. What is Ethical Fashion? The phrase 'ethical fashion' gets used everywhere, yet its true meaning goes far deeper than a marketing slogan. At its core, ethical fashion is built on three interconnected pillars: Sustainability : Prioritising environmentally sound methods, from responsible raw material sourcing to cleaner production processes and circular economy principles. Fair Labour Practices : Ensuring just wages, safe working conditions, and genuine respect for workers' rights at every stage of the supply chain. Transparency : Providing verifiable information on how and where materials are sourced, how garments are manufactured, and what impact they have on both people and planet. An 'ethical' brand should demonstrate these three elements not just in its advertising but within its day-to-day operations. From publishing clear supplier guidelines to adhering to recognised certifications, ethical players go beyond surface-level claims. Through certifications such as FSC® (Forest Stewardship Council®) and Programme for the Endorsement of Forest Certification (PEFC), woodfibre used in the production of Sappi Verve is both renewable and responsibly harvested. By maintaining high environmental standards, Verve ensures its supply chain minimises harm to natural resources while delivering sustainable wood-based fibre. Transparency is more than a buzzword—it is a necessity for brands aiming to build loyalty and thrive in the sustainability-driven economy. Consumers want to know that the products they buy are made responsibly, and traceability provides the proof they need to trust a brand's commitments to sustainability and ethics. Sappi Verve's dedication to transparency offers a roadmap for other textile suppliers. By leveraging tools like blockchain and adhering to globally recognised sustainability certifications, Verve ensures its fibre meet the highest standards. This approach not only supports brands in achieving their sustainability targets but also helps them foster trust with eco-conscious consumers. How to make a difference? It is up to each individual consumer to ensure they live a more sustainable life through their everyday choices and supporting responsible fashion. Choose Sustainable Fabrics : Opt for clothing made from natural fibre and include viscose and lyocell instead of synthetic, petroleum-based fibres. Support Ethical Brands : Look for brands that prioritise traceable, responsibly sourced fibres and follow fair trade practices. Buy Less, Choose Well : Invest in high-quality, long-lasting clothing instead of fast fashion, which contributes to excessive waste. Recycle and Repurpose : Donate or recycle old garments rather than throwing them away, keeping textiles in circulation longer. Ethical fashion is not just a tick box, it is a holistic commitment to people and planet, reflected in how garments are designed, made and eventually returned to the earth. Viscose and lyocell backed by credible certifications and sourced from responsible suppliers are prime examples of fibres that can meet both environmental and social accountability standards. By embracing these materials, brands can stay true to their pledges—and by choosing transparent and accountable labels, consumers help propel the entire fashion world towards an ethical culture.
Korea Herald
4 days ago
- Business
- Korea Herald
IBK gains preliminary nod for Vietnam unit after 8-year wait
The state-run Industrial Bank of Korea has secured preliminary confirmation from the Vietnamese central bank, bringing the policy lender a step closer to establishing a full subsidiary in the country. The State Bank of Vietnam issued a confirmation letter for IBK's subsidiary application on May 30, marking the official start of the review process, the Financial Services Commission announced Monday. The confirmation comes nearly eight years after IBK first submitted the request. The confirmation letter indicates that the screening process has officially begun and that all necessary documentation for regulatory review has been submitted. Vietnam's central bank has rarely approved new foreign banking subsidiaries in recent years. The last such approval was granted to Singapore's United Overseas Bank in September 2017. Once IBK's Vietnamese subsidiary is established, Korea will have three banks operating in Vietnam — alongside Shinhan Bank and Woori Bank — drawing level with Malaysia as the country with the most foreign bank subsidiaries in Vietnam. IBK currently operates two branches in Vietnam, one in Hanoi and the other in Ho Chi Minh City. These branches are expected to be absorbed into the new subsidiary once it is established. Earlier in May, the Vietnamese central bank also approved the Korea Development Bank's plan to open a branch in Hanoi, six years after the policy bank first submitted its request. KDB currently operates only a representative office in Vietnam and does not conduct direct business operations in the country. The FSC highlighted that these recent approvals are the result of continued bilateral diplomacy between Korea and Vietnam, including high-level summits, executive discussions, and official correspondence. 'The issuance of confirmation letters for IBK and KDB is an unprecedented outcome that reflects the government's financial diplomacy and the banks' proactive efforts,' the FSC said. Officials from IBK and KDB stated that the policy lenders aim to support both Vietnamese businesses and Korean companies expanding into the country, thereby contributing to mutual economic growth. IBK plans to focus on financing small and medium-sized enterprises, while KDB intends to support large-scale infrastructure projects.
The Hindu
5 days ago
- Business
- The Hindu
Fine rice for 3 months to be distributed in Hyderabad from June 1 to 30
The distribution of fine rice in Hyderabad through Fair Price shops for the months of June, July and August is set to commence from Sunday (June 1, 2025). It will continue till the end of the month. Telangana government at the end of March (2025) introduced distribution of fine rice - 6kg per eligible individual. All ration shops in Hyderabad district will function from June 1 to 30. There are 653 Fair Price shops here. There are a total of 6,47,282 Food Security Card (FSC) holders in the districts, with a total 24,24,824 members. For the three months, 45259.677 MTs of fine rice and 9709.230 MTs of Wheat (5kgs per card) was allocated. Besides, one kg of sugar would be given to Antyodaya FSC holders. Separate electronic Point of Sale (ePoS) receipts would be generated for each of the three months. The ePoS biometric authentication for each month has to be given by the beneficiaries while drawing food grains at Fair Price Shops, as per a press note issued by Hyderabad district civil supplies officer A. Ramesh on Saturday (May 31, 2025). The official said stringent action against those who sell and buy Public Distribution System (PDS) rice, including booking of criminal cases.
Coin Geek
29-05-2025
- Business
- Coin Geek
South Korea to permit corporations to sell digital assets
Getting your Trinity Audio player ready... South Korea is finally lifting a ban on corporations' involvement in the digital asset world, allowing them to sell their tokens for the first time in eight years. Korea's Financial Service Commission (FSC) announced that local non-profits and exchanges can now cash out their digital assets if they meet all the compliance requirements. The watchdog banned 'crypto' sales by corporations in December 2017 to prevent exchanges from competing with their users and avoid unchecked speculation. In January 2025, the FSC indicated it was mulling allowing corporations to hold digital assets, but it later changed its tune and called for more time to weigh the policy. The agency is now ready to move ahead with the new directive. For exchanges, they must be registered as virtual asset operators and can only sell tokens 'for the purpose of covering operating expenses,' FSC said during the latest meeting of its Virtual Asset Committee. To reduce market impact, exchanges can only sell the top 20 tokens by market capitalization on the five major local exchanges and are subject to daily sales limits. Additionally, they cannot sell the tokens on their own platforms, as doing so would present a conflict of interest. Exchanges must secure a resolution from their board of directors before undertaking any sales and submit disclosure obligations to the FSC. Meanwhile, non-profits that receive digital asset donations can now sell them for the first time, expanding the sources of funding for the country's 14,000 non-governmental organizations (NGOs). Source: Financial Services Comittee To qualify, these corporations must be externally audited by a firm with at least five years of experience. Sales are limited to tokens listed on at least three local exchanges, and the tokens must be cashed out immediately upon receipt. 'Lastly, to prevent money laundering, we have strengthened the confirmation and verification of transaction purposes and sources of funds and only allowed donations and transfers through domestic won exchange accounts, requiring banks, exchanges, and corporations to perform customer verification in an overlapping manner,' the watchdog stated. Beyond the new corporate trading rules, the FSC warned against listing 'zombie coins' whose local daily transaction volume and global market cap don't meet set thresholds. Exchanges must also list memecoins sparingly, and only when they have exceeded a set transaction threshold or have been trading over a long period of time on reputable offshore exchanges. The new rules come just days before South Koreans head to the polls to elect their next president. The two leading candidates, representing the ruling People Power Party (PPP) and the Democratic Party (DP), have sought to lure the 15 million digital asset traders with campaign promises of better laws and new 'crypto' products. The two have also pledged to push for digital asset exchange-traded funds (ETFs) and won-pegged stablecoins; the latter has been the subject of debate over which regulator should oversee the industry. Russia's latest bill allows digital asset seizure In Russia, the government is pushing new laws that would enable the seizure of digital assets used in crime. The Federal Ministry of Justice developed the new bill, classifying digital assets as property the government can confiscate. Speaking at a recent industry event, Deputy Justice Minister Vadim Fedorov noted that as 'crypto' adoption rises, the government has been devising legal means of combating related crime. Fedorov stated that the government will enlist blockchain experts to 'determine the set of necessary measures to ensure the safety of digital currency for subsequent confiscation or settlement of the victims' claims.' The bill, which now heads to the State Duma, acknowledges that some digital assets will require specialized measures due to their inbuilt privacy features. The minister claimed that digital assets have attracted criminals due to their 'anonymity' and lack of a centralized control system. This makes them more efficient for use in crime than cash and other valuables, he added. However, according to Chainalysis, crime only accounted for 0.14% of all digital asset volume in 2024. Separately, the Ministry of Finance is pushing a bill that would establish fines for Russians who make payments in digital currencies within the country. The bill seeks to impose a fine of up to 200,000 rubles ($2,500) for individual violators and up to a million rubles ($12,500) for legal entities. Russian firms have been increasingly using digital assets as payments in their trading with foreign firms, especially with their Chinese and Indian partners. However, digital asset payments are banned for local usage. Watch: Breaking down solutions to blockchain regulation hurdles width="560" height="315" frameborder="0" allowfullscreen="allowfullscreen">
Indian Express
24-05-2025
- Indian Express
A year after gaming zone fire that left 27 dead, families of victims continue to wait for justice, Rajkot Fire Service remains rudderless
'In the last 365 days, there has not been a single day when our family has not cried while remembering Surpalsinh.' Aniruddhsinh Jadeja's eyes well up as he remembers his 22-year-old son. A native of Dhrol in Jamnagar district, Surpalsinh was a university student in Rajkot who had gone to the TRP gaming zone with his friends on May 25, 2024. Surpalsinh was among the 27 people who died in the blaze that engulfed the gaming zone exactly one year ago. He was set to get married just six months later, around Diwali. 'We have not received any justice so far. Now, our only hope is the judiciary. Others can only give assurances but only someone who has lost their young son so tragically would know the pain we are going through,' says Jadeja. Another person who lost a loved one to the tragedy is Kamlesh Kathad (17) whose 19-year-old sister Asha perished in the blaze. She was an employee at the gaming zone. 'The government gave us Rs 4 lakh as compensation but what about justice? Since day one, we have been demanding the harshest punishment for the culprits but the wait has been endless,' says Kamlesh. The Kathads had shifted to Rajkot from their village in Junagadh's Manavadar taluka in January 2024 for better opportunities. Asha, who had completed her Class 12, wanted to pursue higher studies in Rajkot. 'As we were short of money, she decided to work at TRP zone till the time she gets admission in a college. She was drawing a salary of Rs 14,000 per month to support the family. Since childhood, she had wanted to join the Army,' says Kamlesh. Asha's father Chandubhai, who worked as a security guard at a commercial complex 2 km from TRP zone, was the last one to see her alive. 'He reached the spot when he spotted the fire and heard blasts from the site. He saw my sister running out from the gate but soon, she ran back inside after hearing cries for help. She never came out alive,' says Kamlesh. Located in Nana Mauva area of Rajkot, the zone was running without requisite police permissions or Fire Safety Certificate (FSC). Investigation into the blaze found that it was caused by sparks from a welding iron, igniting inflammable materials, including diesel, stored on the premises. Soon after the tragedy, several stakeholders were booked and 15 of them, including those from the civic body, were placed under arrest between May 26 and June 28, 2024. The then Rajkot Municipal Commissioner Anand Patel as well as Commissioner of Police, Raju Bhargava, were transferred with immediate effect. As of May 24, 2025, while four of the accused are out on bail, the other 11 remain in judicial custody as undertrial prisoners. The prosecution submitted documentary evidence running into almost 5,000 pages. Seven of the accused have filed discharge applications in the case but decisions on the same are yet to be passed by the court. At his home, Ashok Modasiya, 53, fondly looks at pictures of three of his family members hanging on the wall. He lost his two daughters, Khushali (24) and Tisha (18), and son-in-law Vivek (26), to the tragedy, he tells The Indian Express. Khushali and Vivek had got married barely three months before the incident. Tisha was a first-year BCA student. Khushali, who lived in Gir Somnath's Veraval with her in-laws, had come to Rajkot to get the paperwork done for her marriage registration. Vivek had come to pick her up. They decided to go to the gaming zone and take Tisha along. 'That was the last time we saw all three of them. On May 28, at 6 pm, we were handed over their bodies after DNA confirmation,' says Ashokbhai. 'It will be a year tomorrow (Sunday) but we have not got any justice. The government assured us that those responsible will be identified and put behind bars with a fast-track court proceedings but we have got nothing but wait, and hope for justice,' Ashokbhai adds as his wife Amitaben looks on. 'She has been badly affected after losing both our children at such a young age. The incident has left her shaken,' says Ashokbhai. The Indian Express reached out to Tushar M Gokani, the Special Public Prosecutor appointed by the Gujarat government in this case, who says, 'In the TRP case, I feel the state government, too, is feeling the pain and agony of the victims and therefore, it has been acting very swiftly on all legal issues. In an unprecedented manner, the Home Department has been taking written progress reports every fortnight in the case.' He further says, 'On behalf of the state, I had filed an application seeking expeditious trial, preferably on a day-to-day basis, in November 2024. As a Special Prosecutor, I will ensure that justice to victims be served expeditiously by following the due process of law.' A number of bodies, including that of children, were so badly charred in the fire that the victims' families had to wait at Rajkot Civil Hospital for three-four days as they had to be sent to Gandhinagar Forensic Science Laboratory (FSL) for DNA identification. Fire department still reeling under aftermath A year after the TRP Game Zone fire, while the state government has made changes to the Comprehensive Gujarat Development Control Regulations (CGDCR) to include rules to be followed by such premises, the impact of the incident on the fire department has been such that it has still not been able to recover from it. The then Chief Fire Officer (CFO) of the Rajkot Fire and Emergency Services (RFES), Ilesh V Kher, as well as Deputy CFO Bhikha J Theba were arrested in the case on June 22, 2024. Earlier, Station Officer Rohit A Vigora was held on May 30, 2024. Now, even as reforms were instituted in the fire services at the city and state level, with previously 'missing' posts of Divisional Officers and other ranks being sanctioned and vacancies of more than 300 firefighters being filled, its leadership remains vacant. Six days after Kher and Theba were arrested by the Special Investigation Team (SIT), Anil Maru, the then District Fire Officer in Bhuj, Kutch, who was on loan to the Gujarat State Fire Prevention Service (GSFPS) as Regional Fire Officer (RFO) of Rajkot region with six districts under it, was sent to take additional charge as CFO of Rajkot city on June 28, 2024. Within 45 days, on August 12, 2024, Maru was arrested by the Anti-Corruption Bureau (ACB) in an unrelated case. Station Officer Hardik Gadhvi, who was in-charge Deputy CFO, also resigned shortly thereafter, and another Station Officer, Amit Dave, was made in-charge CFO. However, Dave also resigned and was supposed to complete his 'notice period' at the end of December 2024. IAS Tushar Sumera, who was appointed Rajkot Municipal Commissioner in December 2024, asked Dave to stay on till senior officers could be found to helm the fire department. Six months after he submitted his resignation, Dave has still not been relieved and remains CFO of a major city — a post that is three ranks above his. This is because Kher and Theba, in spite of their arrests, are still only suspended from their service. This, according to rules, means the posts of CFO and Deputy CFO cannot be filled by further recruitment. While experts have suggested bringing on board a contractual CFO or sanctioning the post of an Additional CFO to fill the leadership gap, no step has been taken in that direction. However, sources in the Rajkot Municipal Corporation (RMC) confirmed that the creation of the post of Additional CFO and imminent recruitment of a senior officer is in the works, and a proposal will be sent to the Gujarat government in the coming days. Meanwhile, even though recruitment of other mid-level officers has begun, the process has run into legal issues due to the differences in rules between various municipal corporations and acceptable educational qualifications. 'Don't wish to be known by the TRP tragedy' The tragedy has not only left the kin of the victims shaken but also affected people who were eyewitnesses to it. 'I don't wish to be known by the TRP tragedy. However, I cannot help it as people, even today, refer to that incident and keep asking me what happened,' says 27-year-old Mahesh Bharwad, a tea vendor near the TRP gaming zone's main gate. He says that he was, as usual, delivering tea at various commercial complexes, when he noticed black smoke emanating from the TRP zone and people running out. 'Since I would deliver tea at the TRP gaming zone too, I was aware of the back gate near the garden. When I saw people stuck on the second floor trying to get down from the pipeline, I shouted at them and asked them to jump,' he told The Indian Express. Mahesh said though, with the help of others, he managed to save three-four persons at the time, he could not grab one of them. 'The person fell and hurt his head but I quickly stopped the car and asked the driver to rush him to the hospital. Someone recorded this and it went viral,' says Mahesh. He distinctly remembers one particular incident. 'After 10 days of the fire, a man came up to me and showed some photos and videos of his son, inquiring if the young man who was hurt was him. I replied in the negative.' The man's son was supposed to get engaged in a month. 'Since the hospital authorities were not allowing anyone inside, the family was living in hope that, perhaps, their son was only injured and still unconscious. Later, the remains of his son, who was 80 kgs, were returned to the family in a small box weighing 10 kg…' Mahesh adds. Mahesh says no matter how hard he tries, he finds it unable to forget the incident. 'Also, people keep reminding me about it. Even now when there is fire, some people joke around, asking me to rush and save someone. They do not understand the extent of that incident because they were not a witness to it,' he adds. Another thing that reminds him of the tragedy on a daily basis is its site, now marked by a boundary wall even as the metal debris still lies inside. 'Even after a year, no one has come to pick up the charred, twisted metal remains of the structure that till last year, was filled with the laughter and smiles of happy children,' says Mahesh.
