By Tai Ford, Nov 27 2019
Slower than Expected Progress: Sustainability in the Fashion Industry has been improving throughout the years - However, the pace of the improvements have slowed down within the past year, according to a newly published report Pulse of the Fashion Industry Report from the Global Fashion Agenda (GFA), Boston Consulting Group (BCG), and Sustainable Apparel Council (SAC).
The new report aims to provide an annual assessment of the fashion Industry via the “Pulse Score” - a proprietary evaluation measurement created by the report’s publishers that combine expert interviews, in-depth surveys and relevant indices to help assess the success of sustainability initiatives in the field.
According to the data, the Pulse Score improvement for 2019 decreased by one third, indicating that global sustainability efforts in fashion are “not moving fast enough to counterbalance the harmful impact of the fashion industry’s rapid growth.“ This results put pressure on the industry’s likelihood of meeting the United Nations Sustainable Development Goals or the Paris Agreement.
The initial conclusions drawn from this report are disturbing: Consumers awareness and concerns about ecological and ethical practices continue to grow. Yet, the Fashion industry is not doing enough to drive the social impact needed. However, the report also points towards a clear opportunity to - now more than ever - find a disruptive solution that that enables all concern stakeholders to act fast, decisively, and at scale.
The retraced supply chain transparency platform will continue to be a key tool for strengthening sustainability efforts. By offering consumers an interactive channel where they can explore and verify brands who promote responsible manufacturing practices, brands will be encouraged to strategically update their priorities. Fashion brands will also benefit from more visibility over their suppliers, and can then make the changes needed to accelerate better environmental and social performance. Furthermore, blockchain technology will help add credibility to all the claims, supply chain improvements, and verification efforts - therefore helping build valuable trust within the industry.
Improving the effects that the fashion industry has on the planet will play a pivotal role in the fight against climate change. The 2019 Pulse Report shows us that increasing the rate of progress is necessary. Transparency Solutions like retaced will be a decisive first step in the right direction and will aid consumers, brands and suppliers ensure accountability and encourage the actions needed for positive, sustainable change.
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