Even in the midst of a global pandemic, apparel and footwear companies have demonstrated that sustainability remains a top priority. Despite the commercial challenges that arose during Covid-19, brands and retailers from fast to high fashion have continued to invest in bettering the planet and people. They are cutting back on single-use plastic, leveraging greener modes of transport, investing in renewable energy and protecting biodiversity, among other initiatives.
Brands are also becoming more sophisticated in how they are measuring and reporting their impact. Organic textiles standard GOTS saw its number of certified factories rise 34 percent to a new high in 2020, and blockchain is catching on as a trusted means to prove chain of custody for raw materials. As consumers, organizations and investors are looking more closely at companies’ actions to discern what is merely a gimmick or greenwashing, traceability offers verified proof of what’s happening in supply chains.
Sustainability is also increasingly tied to finance, linking values with value. To power their ambitious goals, companies are raising funds through green bonds. Meanwhile, environmental, social and governance data is being used as a deciding factor for investors.
With the focus on companies’ actions escalating among both shareholders and consumers, brands can’t afford to ignore the S in ESG. In action, companies ensured that staff received fair pay—even during shutdowns—and they are prioritizing the creation of more diverse workforces.
Read the report to discover:
- How Covid-19 has shaped the sustainability strategies of brands like Outland Denim, Cuyana and Nordstrom
- The potential value in monetizing and digitizing circularity
- What Nike and VF Corporation are doing to shrink plastic waste
- How sustainability is shaping investments
- The latest developments from Cradle to Cradle, GOTS and The Fashion Pact
- Why McQ and Reformation are tapping blockchain for traceability