News and Business
Fashion industry renews commitment to reduce greenhouse gas emissions
Fashion Industry Charter for Climate Action updated to comply with Paris Agreement goals
Subjects
On November 8, 2021, the fashion industry announced a new target for reducing greenhouse gas emissions with updates to the Fashion Industry Charter for Climate Action, released by the United Nations Framework Convention on Climate Change (UNFCCC) in December 2018, during COP24 in Katowice, Poland. The updated version of the document is aligned with the Paris Agreement, presenting a new decarbonization plan to limit global warming to 1.5 degrees celsius compared to pre-industrial levels.
The new charter proposes that the signatory companies set targets to reduce their emissions within 24 months in line with scopes 1, 2, and 3 of the Science Based Targets Initiative’s criteria, or otherwise, lower emissions by 50% by 2030. In both cases, companies would have to commit to net zero carbon emissions by 2050. To do so, each year they must quantify, track, and publicly report greenhouse gas emissions and present emission reduction plans according to the new target chosen within 12 months of releasing the charter’s latest version. The previous target was to reduce 30% of emissions by 2030 and achieve neutralization by 2050.
Major brands in the sector unite
First signed in 2018, the Fashion Industry Charter for Climate Action had more than 125 companies and 41 supporting organizations, including major brands like Chanel, Adidas, Gap, Guess, H&M, Hugo Boss and Nike. The only Brazilian signatories are Lojas Renner, Reserva, and Grupo Soma (Farm, Hering, NV, and others). According to the World Bank’s Analysis, the fashion industry is responsible for about 10% of annual global greenhouse gas emissions.
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*With the collaboration of Maria Eduarda Garambone, Anna Carolina Gandolfi, Mariana Diel e Gabriel Pereira Bispo de Oliveira.
