DKNY, Tom Ford and Reebok among companies to score 0% in Fashion Revolution report ranking top 250 firms
Almost a quarter of the world’s biggest fashion brands, such as Reebok, Tom Ford and DKNY, do not have a public plan for decarbonisation, a report has found.
The fashion industry can be highly polluting. In some casesforever chemicals have been found in the waters near factories. The industry is also a concerning source of waste, with fast fashion accused of encouraging overconsumption.
The What Fuels Fashion? report, published on Thursday, analyses and ranks 250 of the world’s biggest fashion brands and retailers – those with turnover of $400m (£313m) or more – based on public disclosure of their climate goals and actions.
Why would they?
Environmental, Social, and Governance programs are a trendy topic with investors. For example, if Walmart’s shareholders force it to adopt an ES&G program, that that same pressure gets applied by Walmart to their vendors.
That’s how it’s supposed to work. Devil is in the details, of course. And plenty of “yes buts” to go along with them.
There’s an entire industry devoted to auditing and rating companies on their overall score. Ecovadis is one that I can think of off the top of my head. They’ll audit you, give you a score, and give you areas where you need to improve.
I haven’t decided exactly how cynical I am about the whole thing, but I’m way past letting the perfect strangle the good.