The Global Fashion Agenda’s flagship event convenes in Copenhagen on May 11th with a mission to mobilize the international fashion industry and transform the way it produces and consumes fashion.
On Monday the GFA (in collaboration with The Boston Consulting Group), released a sobering report on the industry’s environmental and social performance.
We’re consuming more clothing than ever, with consumption projected to rise by 63% to 102 million tons in 2030. As population growth stretches our natural resources to the limit, the industry is going to struggle to remain profitable. However, the sustainability “Pulse” of the industry is weak—scoring only 32 out of 100. Most large fashion brands have made progress, but the majority of smaller brands have done little to improve their impact.
However, there is some hope—sustainability initiatives have presented a viable business case for some individual businesses.
The founding members of the Global Fashion Agenda are Kering, H&M, Target, Sustainable Apparel Coalition and Li & Fung.
Proud to be a strategic partner of Global Fashion Agenda #copenhagenfashionsummithttps://t.co/uhJl6NlIrv
— Kering (@KeringGroup) May 5, 2017
Eva Kruse, CEO of GFA and Copenhagen Fashion Summit said, “To understand the most significant and critical issues for our industry, but also to track improvements—or setbacks—we are super excited to be able to launch this first-ever report that takes the pulse on where we are as an industry, and where we should put our attention, innovation, and investments to secure the future of our planet and our industry.”
While the fashion sector has fueled global development, the release points out, “with current trajectories of production and consumption, pressures on natural resources and social conditions will intensify by 2030 to the point of threatening industry growth itself.”
That said, improvements in environmental and social performance would add as much as €160 billion by 2030 in annual value to the world economy.
The Pulse of the Fashion Industry report lays out the “Landscape for Change,” forestalling increased regulation and creating a more sustainable landscape and supply chain from start to finish.
Global Fashion Agenda is calling on fashion design brands & retailers to take action on circularity https://t.co/cEdwOPPqwy@CphFashSummit
— Jens Martin Skibsted (@jmskibsted) May 5, 2017
BCG partner and managing director Javier Seara said, “We all are aware of the negative aspects of the apparel industry—environmental and human. Now, all signs point to the readiness of the fashion world to tackle the ‘dark side’ of the industry. There is a clear case for change to transform the industry of style, beauty, waste, and unfairness, into a positive story for all those involved in it —consumers, producers, workers, brands and the planet as a whole.”
100+ students will attend @CphFashSummit to draft & negotiate the first-ever @UN resolution on #sustainable fashion https://t.co/CtC4fyDFpl
— Sustainable Brands (@SustainBrands) May 8, 2017
As the press release notes, “Ultimately, Copenhagen Fashion Summit will steer industry leaders towards concrete commitments, for a world beyond next season.” High time sustainability became more fashionable.
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