through the supply chain. The supply chain has been divided into so many different bases, we have to bring things together again,” he told WWD. Cipriani said the industry needs to build new systems and rethink ways to integrate sustainable and business goals.
“VC-level investments” in the $150 million to $300 million range are needed to build new, energy-efficient technologies or retrofit existing facilities, which smaller brands cannot finance on their own. A report from NGO Stand Earth released just before Cop found emissions from fashion brands signed to the United Nations Framework Convention on Climate Change, or UNFCCC, are still rising, despite their pledges to get to net-zero emissions by 2025. The 10 companies included H&M, Inditex, Kering, Lululemon and Nike. The group looked at companies’ self-reported data on their supply chain emissions from 2018, when the UNFCCC was proposed, through 2022.
During Cop27, Stand Earth hosted a panel alongside advocacy organizations Changing Markets Foundation and Zero Waste Alliance Ukraine, which found that Russian oil is still seeping into the supply chain through the world’s two largest polyester manufacturers in India and China, despite companies cutting off business ties with the country in the wake of its invasion of Ukraine.
Alpen said H&M has built long-term relationships with suppliers to foster improvements, as opposed to the “shop around for the cheapest price by agents” model used long ago. “The one important point is that the consultation will not be the end game,” said GFA chief executive officer Federica Marchionni. “It’s not just saying, ‘OK, here are some targets for the fashion industry,’ but most importantly it is what are the actions that the industry is taking to get there. The road map will help people to prepare and accelerate.