emerging
Collective Sustainability
The fashion industry needs to collaborate across the value chain to address the complex challenges of sustainability.
Timeframe
long-term
Impact areas
Detailed Analysis
Achieving meaningful progress on sustainability requires collective action from brands, suppliers, and other stakeholders. "Fragmentation and complexity across the fashion value chain, coupled with consumer reluctance to pay for sustainable products, are inherent barriers to reaching sustainability goals." The fragmentation of the supply chain and the lack of consumer willingness to pay a premium for sustainable products are key challenges. "But with decarbonisation efforts falling short of targets and the climate crisis accelerating, inaction is not an option." Brands need to collaborate with suppliers on decarbonization efforts, invest in sustainable material innovation, and improve data transparency and traceability. "The fashion sector must act collectively to drive impact." This includes consolidating supplier relationships, sharing best practices, and developing innovative financing solutions. "40% of power in Bangladesh will be fuelled by renewable energy by 2041 thanks to collective energy initiatives."
Context Signals
Slow progress on decarbonization targets
Challenges in scaling sustainable innovations
Increasing regulatory pressure on sustainability
Edge
Industry consortiums and collaborative platforms could facilitate knowledge sharing and joint initiatives.
Consumer education and awareness campaigns could increase demand for sustainable fashion products.
New business models like rental and resale could contribute to a more circular and sustainable fashion industry.
