Fashion

Leading fashion companies to make G7 pledge to help environment

cde.news desk 23 August 2019, 12:43 · 2 min read

epa03266514 Swimsuits from different periods are presented during the exhibition 'Swimwear and body exposure: an alternative history of the 20th century' at Balenciaga Museum in Getaria, Spain, 15 June 2012. The exhibition gather more than 57 swinsuits, some of them dated in 1880 and created from fashion designers as Yves Saint Laurent, Hermes, Schiaparelli, Christian Lacroix, Pucci or Alexander McQueen. The exhibitions runs from 16 June to 23 September. EPA/JAVIER ETXEZARRETA

Major fashion companies from around the world said on Friday they had signed a pact which they would present at this week’s G7 summit in Biarritz, France, to help protect the environment.

The pact has been signed by 32 companies including the likes of Adidas, Burberry, Kering, Hermes, LVMH and Nike.

Without action, the industry could account for a quarter of the world’s carbon budget by 2050. Growing numbers of young people are turning away from fast fashion towards reuse and resale sites such as Depop in the UK, Thredup and The RealReal in the US and YCloset in China. The second-hand market is expected to overtake fast fashion in the next few years and be 50% bigger than it by 2028, according to a report by market analysts GlobalData for Thredup.

Security preparations for G7 summit — French national security police wears a G7 logo during a demonstration at the Biarritz airport, France, 20 August 2019. Security measures are taken prior to the summit of the Group of Seven (G7) to be held in Bayonne / Biarritz, Basque Country, France, from 24 to 26 August 2019. EPA-EFE/CAROLINE BLUMBERG

Protecting the environment will be a leading issue at the G7, with French President Emmanuel Macron and United Nations Secretary General António Guterres having expressed concern this week over wildfires raging through the Amazon.

Via Reuters/ The Guardian

Filed under Business Environment Fashion G7

Topics adidas biarritz Burberry enviroment Fashion France G7 Hermes Kering LVMH Nike