The fashion industry is one of the world's worst polluters, producing 20% of global wastewater and more carbon emissions than all international flights and maritime shipping combined. As a result, 32 fashion companies signed a "Fashion Pact" ahead of the G7 meeting in France.
The purpose of the non-binding agreement is to set guidelines for companies to help curb the detrimental impact caused by the industry. The Pact's three areas of global commitment are mitigating climate change, curbing biodiversity loss, and addressing loss of ocean functionality. Some of the Pact's long-term goals include a net-zero carbon footprint by 2050 and elimination of single-use plastics by 2030.
The Pact was spearheaded by fashion conglomerate Kering, and companies such as Burberry, Chanel, H&M, and Nordstrom were among the powerhouses to join it. The Pact's membership goal is representation by "at least 20% of the global fashion industry as measured by volume of products". This membership includes not only luxury labels but also spans across moderate- and affordable-priced brands.
To learn more, read the Forbes article here.
Click here to read the G7 Summit Fashion Pact.
