Fashion CEOs Told To Urgently Address Their "Catastrophic Impact" On Climate Change - Forbes

Global Fashion Agenda patron HRH the Crown Princess Mary of Denmark (left) and CEO Eva Kruse in Davos, Switzerland, to present the CEO Agenda 2019.Global Fashion Agenda

Fashion CEOs have been told they need to urgently address climate change within their companies at the World Economic Forum’s annual meeting in Switzerland this week.

Global Fashion Agenda, a not-for-profit which leads industry collaboration on sustainability, presented its most recent CEO Agenda report at the conference highlighting eight priorities for the industry to address this year. The conference was also attended by Global Fashion Agenda's patron, HRH the Crown Princess Mary of Denmark.

The report was developed in partnership with some of the world’s biggest fashion companies including Bestseller, H&M Group and Li & Fung.

The 2019 CEO Agenda acknowledges the progress that has been made in areas such as chemical use, circularity and equality but highlighted that more needs to be done about the 1.2 billion tons of greenhouse gases emitted by the fashion industry each year.

Eva Kruse, CEO and president of Global Fashion Agenda, said, “We only have 12 years to rectify the catastrophic impact we’ve had on our planet or we’ll miss the objective of the Paris Agreement to keep global warming below 1.5 degrees Celsius (34.7 degrees Fahrenheit). We know that change is not easy, but overall progress is too slow, and we simply can’t afford to lose another year. The fashion industry is one of the world’s largest and most powerful industries. Therefore, we need to take leadership to secure the future of our industry – and our planet.”

The other core priorities for immediate attention highlighted in the CEO Agenda are supply chain traceability, efficient use of water, energy and chemicals and respectful and secure work environments. The report also outlines four additional areas of focus for CEOs that could lead to fundamental change in the industry. These are: a sustainable material mix, a circular fashion system, promotion of better wage systems and the fourth industrial revolution.

CEO Agenda 2019Global Fashion Agenda

Commenting on the report, Karl-Johan Persson, CEO of H&M group, said, “The fashion industry is going through a transformation that poses many challenges we as an industry need to collaborate on. The transition towards a circular and climate positive business model is key, as is ensuring that the jobs created along our value chains are fair and equal.”

Mark Parker, CEO of Nike, added: “We believe that the world needs to urgently work towards creating a sustainable future - one where everyone thrives on a healthy planet and a level-playing field. We are committed to innovating our way into that future, both within Nike and in partnership with others.”

Bill Foudy, president, sourcing services at Target, furthered, “At Target, we’re committed to using resources responsibly and believe the circular economy is one of the biggest opportunities we have to design a sustainable future. As a Strategic Partner of the Global Fashion Agenda, alongside other industry leaders, we support the CEO Agenda as we take on some of the fashion industry’s most important challenges together.”

Let's block ads! (Why?)

https://www.forbes.com/sites/oliviapinnock/2019/01/24/fashion-ceos-told-to-urgently-address-their-catastrophic-impact-on-climate-change/