SUSTAINABILITY
The notoriously unregulated fashion industry is suddenly facing a welter of new laws and directives , designed to help green-up supply chains
WRITTEN BY : SEAN ASHCROFT
LETTER ABILITY ?
Historically , fashion retail has been a poor performer when it comes to sustainability and ESG . This is largely due to the sector ’ s rapid growth , e-commerce capabilities , and its use of resources and raw materials that are tied in with changing consumption patterns , as well as the globalisation of trade .
Far-reaching social issues in the fashion supply chain and its ecosystem have been highlighted for decades , with little in the way of meaningful change . Tragedies such as the Rana Plaza factory collapse in 2013 - causing the deaths of more than 1,000 garment workers , predominantly women and children - have driven some positive change , but there remains a lack of industrywide governance and regulation . Yet , there are signs that this may now be changing .
New York fashion ESG Act might be game changer In January 2022 , the New York State Assembly unveiled the Fashion Sustainability and Social Accountability Act . If passed , this would make New York the first city to pass legislation holding the biggest fashion brands to account for their role in climate change .
Backed by a powerful coalition of nonprofits and designer Stella McCartney , the law will apply to global apparel and footwear firms with more than US $ 100mn
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