Fashion is responsible for between 3 percent and 8 percent of total greenhouse gas emissions.
By 2030, extreme weather events could jeopardise $65 billion worth of apparel exports and eliminate nearly one million jobs in four economies that are among the most central to the global fashion industry.
According to The BoF-McKinsey State of Fashion 2024 Executive Survey, fashion leaders are expecting other challenges such as economic uncertainty, geopolitical tensions and inflation to vie for their attention ahead of climate risk in the coming months.
The eighth annual State of Fashion report by The Business of Fashion and McKinsey & Company reveals an industry navigating deep uncertainty. Download the full report to understand the 10 themes that will define the industry and the opportunities for growth in the year ahead.
A landmark piece of legislation designed to make companies accountable for labour abuses and environmental damage in their supply chains has faltered, reflecting growing political opposition to more onerous climate rules.
The Worker Rights Consortium says that garment workers have been denied billions of pounds of legally mandated severance pay after being sacked or losing their jobs due to brands cancelling orders or factory closures.