Denmark non-profit Global Fashion Agenda (GFA) has revealed in its latest report that companies struggle to prioritise sustainability efforts due to economic pressures.
The GFA Monitor report has called for a swift yet balanced integration of sustainability in fashion business strategies with a focus on long-term resilience.
The 2024 report, which was released during the Global Fashion Summit: Shanghai Gala 2024, aims to guide fashion industry leaders in developing a sustainable fashion sector and to create a net positive impact.
The publication precedes COP29, which is set to take place in Baku, Azerbaijan, from 11 to 22 November 2024.
Produced in collaboration with partners such as the Apparel Impact Institute and the Ellen MacArthur Foundation, the GFA Monitor compiles perspectives and data inputs from various stakeholders, emphasising the need to connect environmental and social objectives with business goals.
The report incorporates insights from the Fashion Industry Target Consultation, a joint effort by GFA and the UN Environment Programme (UNEP), which gathers industry feedback on essential milestones for achieving a sustainable fashion sector. This year, contributions came from 100 stakeholders across six continents, addressing 27 key action areas.
Global Fashion Agenda CEO Federica Marchionni said: “The GFA Monitor 2024 reinforces COP29’s core themes: enhancing ambition and enabling tangible action. As climate threats and scepticism towards sustainability intensify, the industry must adapt swiftly while fostering long-term resilience. I urge leaders to use this report’s practical steps and proven best practices to build a sustainable, equitable, and transparent fashion ecosystem.”
GFA Monitor report’s key findings
- In 2023, approximately 30% of cotton was cultivated under sustainability programmes
- A 14% rise in respondents reported establishing targets for fair wages through collective bargaining by 2035
- Increased awareness and target setting related to the Fashion CEO Agenda’s five priorities.
Ongoing challenges highlighted in the report
- Companies face difficulties in prioritising sustainability efforts due to economic pressures
- Wage growth remains limited, with only a 1% increase noted in the gap between minimum and living wages since 2023
- Although target setting has improved, particularly in water stewardship, fewer companies are actively pursuing these objectives or tracking their progress.
Social & Labor Convergence Program executive director Janet Mensink said: “2023 SLCP assessments showed a 5% increase in social and labour legal non-compliances, demonstrating the importance of keeping Respectful and Secure Work Environments high on the agenda.”
Fair Labor Association Innovation and Development, Manufacturing director Tiffany Rogers said: “Working together, we can and will end poverty-level wages for garment workers. Establishing industry targets for 2035 is a step forward; now we must prioritise measuring progress toward living wages.”
Source from Just Style
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