50 Star US Inc.
The foundational components of the fashion and clothing industries, raw materials are also a major risk factor for issues related to sustainability and climate change. The textile sector needs to work together to address sustainability issues and take the required steps to adhere to corporate standards. More than 85% of the top brands (based on sales) have made their supply chains' decarbonization goals public, demonstrating the industry's recognition of the pressing need.
Several sources claim that companies will be able to reap an estimated average five-year profit increase if they take action now to guarantee a preferred raw material supply in the future. In fact, a fashion firm with $1 billion in annual revenues, at the top of our model, could potentially tap into a cumulative opportunity of about $100 million over a five-year period.
Because of the seamless nature of the network, the supply chain must use materials, even those with the least negative effects on the environment and society. There are two methods we can cut greenhouse gas emissions, for example:
Utilizing recycled raw materials from sustainable sources (this applies to all non-renewable materials, but it's also a key route for renewable raw materials)
Employing renewable raw materials from sustainable sources that are continuously replenished at a rate that is either higher than or equal to the rate of depletion.
Data from the BSG report indicates that in order to ensure a sustainable future for their brand growth, fashion firms need to follow the right laws and guidelines. It is evident that fashion brands are now having little of an impact on this difficult problem. Regulations pertaining to producers, brands, and merchants operating in the fashion and apparel industry may soon be implemented. Every stage of the product's life cycle will be governed:
The sourcing of items (e.g., excluding challenges related to human rights)
The manner they're made (take the EU's Eco-design for Sustainable Products Regulation, for example).
The marketing strategies used (e.g., the EU's Green Claims Directive)
How they are disposed of (e.g., the Extended Producer Responsibility and the EU's Waste Framework Directive)
Rethinking high-volume materials is necessary to source preferred raw materials, claims the paper. The five most commonly used materials in fashion and apparel are cotton, wool, bovine leather, MMCFs (like viscose), and synthetics (like polyester and nylon), which together account for the biggest amount of greenhouse gas emissions. In general, the choices can be divided into two groups: recycled materials and renewable materials that are sourced sustainably (such as organic or regenerative materials).
The material and product's quality and durability are also significant, and these factors should be taken into account from the outset of design and development. Considering that recycled materials may lack the inherent qualities of ordinary virgin materials, producing inferior alternatives, doing so has real-world ramifications for brands.
In order to ensure a well-coordinated approach and superior data quality to meet regulatory requirements and evolving consumer demands, organizations should think about designating a head of traceability to supervise collaboration among the sustainability, legal, IT, and marketing divisions.
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