Fashion is responsible for between 3 percent and 8 percent of total greenhouse gas emissions.
By 2030, extreme weather events could jeopardise $65 billion worth of apparel exports and eliminate nearly one million jobs in four economies that are among the most central to the global fashion industry.
According to The BoF-McKinsey State of Fashion 2024 Executive Survey, fashion leaders are expecting other challenges such as economic uncertainty, geopolitical tensions and inflation to vie for their attention ahead of climate risk in the coming months.
The eighth annual State of Fashion report by The Business of Fashion and McKinsey & Company reveals an industry navigating deep uncertainty. Download the full report to understand the 10 themes that will define the industry and the opportunities for growth in the year ahead.
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.
Big brands like H&M Group, Inditex and Nike are turning to biomass like wood pellets and agricultural waste in a bid to get the world’s dirtiest fossil fuel out of energy-intensive manufacturing processes. Climate groups say it’s not any better.
With global temperatures reaching new highs and time running out for brands to deliver on their environmental commitments, here’s what fashion leaders need to know ahead of the start of the UN’s annual climate summit in Dubai Thursday.