Fashion Pact: Nike, Chanel, Hermès, and more unveil their sustainability targets at the G7 summit
Thirty-two major fashion and textile companies have signed the Fashion Pact, a non-legal, industry-wide agreement to tackle climate change, biodiversity loss, and ocean pollution. The initiative was presented at the G7 summit last weekend by French president Emmanuel Macron, and current signatories include Ermenegildo Zegna, Salvatore Ferragamo, Stella McCartney, and Tapestry (which owns both Kate Spade and Coach 1941).
Individual companies are free to choose how they work towards the Fashion Pact objectives, although the manifesto emphasises quantifiable, science-based targets (SBTs). Key goals include eliminating single-use plastic packaging by 2030, shifting towards 100% renewable energy reliance by 2030, and achieving net-zero carbon emissions through reduction or offset programs by 2050.
Optimism aside, failing to meet SBTs is penalty-free, and measures for guaranteeing transparency or accountability remain vague. We hope that the Fashion Pact is not an empty mea culpa, and that brands will not only meet, but exceed our expectations. We'll be waiting...