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Encourage brands to adopt new sustainability measures: Moody’s

  

Guillaume Leglise, Assistant Vice President, Moody's opines, long term environmental and social factors may put the apparel industry’s profitability at risk. The analyst advises environmentally conscious consumers to encourage fashion brands to adopt new sustainability measures.

Moody’s says, the apparel industry is the second largest user of water globally and produces 8 per cent of global greenhouse gas emissions. Garment dyeing and textiles finishing, which results in 20 per cent of global industrial water pollution, is likely to triple environmental damage by 2050, says the report. It estimates water needs to exceed supply by 2030.

Researchers at Piper Sandler say, younger consumers are more interested in buying sustainably produced clothing even if it costs. They are increasingly renting and buying secondhand clothes to obtain higher quality clothing at better prices. According to the report, H&M’s new strategy to adopt less wasteful apparel production may be difficult to sustain as these products represent just a fraction of H&M’s total output.

 
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