In a historic move, given the scale and importance of the coalition that has been created, 32 leading companies from the fashion and textile industry have given themselves a set of shared objectives in the form of a Fashion Pact. The coalition includes groups and brands in Luxury, Fashion, Sports and Lifestyle, along with suppliers and retailers, all of whom are already involved in separate environmental strategies.
They have committed to achieving practical objectives together in three areas: climate, biodiversity and oceans.
The Fashion Pact’s objectives draw on the Science-Based Targets initiative, which focuses on action in three essential areas for safeguarding the planet:
Stop global warming: by creating and deploying an action plan for achieving the objective of zero greenhouse gas emissions by 2050, in order to keep global warming below a 1.5°C pathway between now and 2100.
Restore biodiversity: by achieving objectives that use Science-Based Targets to restore natural ecosystems and protect species.
Protect the oceans: by reducing the fashion industry’s negative impact on the world’s oceans through practical initiatives, such as gradually removing the usage of single-use plastics.
These commitments are designed to be embraced by every company involved and backed by cross-sector initiatives, along with the deployment of innovation accelerators.