Coinciding with the recent Copenhagen Fashion Summit, the Global Fashion Agenda released their second edition of the 'Pulse of the Fashion Industry' report, which provides an in-depth assessment of the fashion industry’s environmental and social performance. According to the 124-page assessment, 75% of fashion companies have improved their environmental and social performance over the last year with their pulse ‘score’ rising from 32 to 38 (out of 100), confirming that sustainability is rising on the corporate agenda. Instead of measuring financial consequences, this edition of the report places a positive spin on the numbers and focuses on the potential financial gains that result from taking action. With clear benefits to the bottom line, this should be music to shareholders ears and provide additional traction to move the industry forward.
Our favourite highlights? 52% of executives polled reported that environmental and social targets acted as a guiding principle for nearly every strategic decision they made – an increase of 18 percentage points from last year. The report also includes a ‘Roadmap to Scale’ - an inspiring guide for the industry built on proven best practices with industry players and offering concrete steps for businesses to immediately embark on their sustainability journey. We agree with the GFA that it is time to pick up the pace!
Download the full Pulse of The Fashion Industry 2018 report and executive summary here.