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16 Dec 2015

Kate Abnett, Business of Fashion (UK)

What the COP21 Climate Agreement Means for Fashion

…[T]he Paris deal sends an important signal that all countries…are committed to a low-carbon future…But what does the agreement mean for the fashion and luxury industries?…Some sections of fashion companies’ supply chains present greater risks to the environment than others…[R]aw materials like cotton and cashmere require huge amounts of electricity and water to produce…Another high-impact part of the industry is in transport and logistics…But transitioning to a low-carbon future requires investment…[C]oncerns remain around the real costs that these investments will mean for businesses…There are no legal mechanisms currently holding companies to their sustainability goals…As part of the Paris agreement, countries committed to raise $100 billion a year by 2020, to help developing nations…Pierre Börjesson of H&M…points out that this responsibility begins in its own supply chain, which is made up of smaller sourcing and production companies…Börjesson adds that fashion brands can speed up tech advances that the whole industry can benefit from…However, industry-wide change requires companies to work together…[Also refers to Adidas, BNP Paribas, Google, Kering, Levi Strauss & Co., Nike, and Tiffany.]