Fashion sector to miss path to allay climate change by 50% Despite efforts to reduce emissions, the fashion industry is on a trajectory to miss the 1.5-degree pathway to mitigate climate change set out by the Intergovernmental Panel on Climate Change (IPCC) by 50 per cent, according to the Fashion on Climate report, the result of a multi-year partnership between Global Fashion Agenda (GFA) and McKinsey & Company. If no further action is taken over the next decade beyond measures already in place, the industry’s CO2 emissions will rise to 2.7 billion tonnes a year by 2030—an annual volume growth rate of 2.7 per cent.
UNFCCC signatories launch Playbook for Climate Action
Industry stakeholder signatories of the United Nations Fashion Industry Charter for Climate Action (UNFCCC) in September launched the first Playbook for Climate Action, a living guide to enable all actors of the fashion industry to identify what climate actions to take and which initiatives and programmes could support them in undertaking their decarbonisation journey. It is primarily targeted at less-experienced fashion companies that have not yet taken action on climate change, but want to join the sector to deliver net zero emissions by 2050. It will increase their level of understanding of climate change and provide a roadmap to guide their actions.
63 UK retailers support BRC Climate Action Roadmap
Bangladesh gets $256.5 mn from Green Climate Fund
Amazon sets up Climate Pledge Fund
Amazon has set up a Climate Pledge Fund to support the development of sustainable technologies and services that will enable Amazon and other companies to meet The Climate Pledge – commitment to be net zero carbon by 2040. The fund will back visionary companies whose products and services will facilitate the transition to a zero carbon economy. The fund will invest in companies in multiple industries, including transportation and logistics, energy generation, storage and utilisation, manufacturing and materials, circular economy, and food and agriculture. Over time, Amazon will look for opportunities to involve other signatories in this investment programme
