The material consequences of choosing sustainable fashion
More and more consumers are voting with their wallets to demand more sustainable textiles. The shift has huge implications for one of the planet’s largest industries.
The textile industry - primarily the business of cloth and clothing - produces close to 100 million tonnes of fibres every year. This number is only set to grow as purchasing power in emerging markets rises.
The industry - and its growth - has huge consequences for the environment and climate change, producing some 1.2 billion tonnes of CO2 equivalent per year. However, an increasing number of consumers, aware of the impact that clothing choices can have on the environment, are changing their buying habits.
For an industry that makes $3 trillion per year in revenues and employs nearly 60 million workers globally, this has material consequences for investors too.
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