What Will It Take to Tackle Fashion's Climate Financing Gap? - The Business of Fashion
What Will It Take to Tackle Fashion’s Climate Financing Gap? | BoF
The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Decarbonising the industry is expected to take $1 trillion over the coming decades. Where that money will come from and how it’s distributed remain open questions.
Brands are passing the buck on sustainability targets, placing an unrealistic burden on manufacturers, according to a new industry report.
The UN’s annual COP climate summit ended Wednesday with an agreement to transition away from fossil fuels. The fraught, days-long negotiations to get there point to the challenges facing fashion companies seeking to deliver on these ambitions.
Sarah Kent is Chief Sustainability Correspondent at The Business of Fashion. She is based in London and drives BoF's coverage of critical environmental and labour issues.
The ‘instant fashion’ juggernaut’s explosive growth is attracting imitators. But keeping up with Shein’s relentless churn puts the industry on a perilous course when it comes to sustainability, writes Kenneth P. Pucker.
LVMH and Kering wrote down billions of dollars of unsold inventory last year. What to do with it has become an increasingly complex challenge.
The Swedish company was at the forefront of efforts to scale up supply of more sustainable materials. It filed for bankruptcy on Sunday.
The Swedish textile recycler said it was unable to secure sufficient long-term funds to continue operations.
Related Knowledge Center: Climate economics
Climate change is now a driver of the world’s economy. The impact is profound:
- Catastrophic weather events — hurricanes, floods, droughts, high temperatures — are more frequent and more extreme. The cost can be measured in both the initial damage caused and the longer-term impact on the economy.
- Vulnerable communities are increasing climate-related investments, hardening infrastructure and taking other protective measures.
- Investment in carbon capture and storage technologies is increasingly rapidly.
- Governments are making investments and crafting regulations to reduce emissions of carbon dioxide and other greenhouse gases.
On top of all of this is the cost of uncertainty. As the Fourth National Climate Assessment, released in 2018 by the U.S. Global Change Research Program, says, “The assumption that current and future climate conditions will resemble the recent past is no longer valid.”