The companies have signed a Fashion Pact, committing to practical targets together in climate, biodiversity and oceans. The Pact will be presented to heads of state during the G7 meeting this weekend in Biarritz.
Ahead of the G7 meeting in Biarritz this weekend (August 24-26), French President Emmanuel Macron — along with Economy and Finance Minister Bruno Le Maire, Minister of Labour Muriel Pénicaud, and Deputy Minister of Ecological and Solidary Transition Brune Poirson — has invited to the Elysée Palace representatives of the 32 fashion and textile companies who have launched a new Fashion Pact by his side.
In April, ahead of the G7 meeting, Macron gave Kering Chairman and CEO François-Henri Pinault a mission to bring together the leading players in fashion and textiles, with the aim of setting practical objectives for reducing the environmental impact of their industry.
In a historic move, given the scale and importance of the coalition that has been created, 32 leading companies from the fashion and textile industry have given themselves a set of shared objectives in the form of a Fashion Pact. Led by Kering, itself a pioneer in sustainable luxury, the coalition includes groups and brands in Luxury, Fashion, Sports and Lifestyle; along with suppliers and retailers, all of whom are already involved in separate environmental strategies.
To date, the coalition comprises (in alphabetical order):
adidas, Bestseller, Burberry, Capri Holdings Limited, Carrefour, Chanel, Ermenegildo Zegna, Everybody & Everyone, Fashion3, Fung Group, Galeries Lafayette, Gap Inc., Giorgio Armani, H&M Group, Hermes, Inditex, Karl Lagerfeld, Kering, La Redoute, Matchesfashion.com, Moncler, Nike, Nordstrom, Prada Group, Puma, PVH Corp., Ralph Lauren, Ruyi, Salvatore Ferragamo, Selfridges Group, Stella McCartney and Tapestry.
The Fashion Pact’s objectives draw on the Science-Based Targets initiative, which focuses on action in three essential areas for safeguarding the planet:
Stop global warming: by creating and deploying an action plan for achieving the objective of zero greenhouse gas emissions by 2050, in order to keep global warming below a 1.5°C pathway between now and 2100.
Restore biodiversity: by achieving objectives that use science-based targets to restore natural ecosystems and protect species.
Protect the oceans: by reducing the fashion industry’s negative impact on the world’s oceans through practical initiatives, such as gradually removing the usage of single-use plastics.
These commitments are designed to be embraced by every company involved and backed by cross-sector initiatives, along with the deployment of innovation accelerators.
We’ve seen a growing wave of corporate activism toward sustainability, with business leaders banding together across industries to ensure their longevity and wellbeing, as well as that of the environment and all of their stakeholders — just this week, 180 CEOs got together to redefine the Purpose of a Corporation, as one that promotes an ‘economy that serves all.’ With the Fashion Pact, leading players in the fashion and textile sector are joining forces for the first time to launch an unprecedented movement. The Fashion Pact is open to any company that wants to help to fundamentally transform the practices of the fashion and textile industry for the betterment of all.