The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
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When it comes to sustainability, the fashion industry has long relied on self-regulation rather than external enforcement. But oftentimes, these self-defined targets create a “convenient fantasy,” Blackrock’s former chief investment officer of sustainable investing Tariq Fancy said in a talk at BoF VOICES 2022. This gives the appearance of positive movement, but not necessarily real progress. Indeed, activists like Fancy, as well as consumers and investors are calling for government regulators to intervene.
“Many companies are playing dirty,” he said. “It’s time we called in the refs.”
This week on The BoF Podcast, BoF’s chief sustainability correspondent Sarah Kent speaks with Fancy; Maxine Bédat, director of the New Standard Institute; Baroness Margaret Omolola Young, activist and a member of Britain’s House of Lords and Ken Pucker, former chief operating officer of Timberland to explore the role that regulation can play in creating a more sustainable fashion industry.
The State of Fashion 2024 explores how the frequency and intensity of extreme weather-related events are leaving the industry’s value chain increasingly vulnerable.
Bestseller and H&M Group have pledged $100 million to help develop a renewable-energy project in Bangladesh, a possible template for more meaningful investment in decarbonising the industry.
Big brands like H&M Group, Inditex and Nike are turning to biomass like wood pellets and agricultural waste in a bid to get the world’s dirtiest fossil fuel out of energy-intensive manufacturing processes. Climate groups say it’s not any better.
With global temperatures reaching new highs and time running out for brands to deliver on their environmental commitments, here’s what fashion leaders need to know ahead of the start of the UN’s annual climate summit in Dubai Thursday.