If we are to really shift the textile industry from one that is harming workers, local communities and the environment to one that is circular and sustainable, scalable solutions will be necessary.
A new investment fund, the Good Fashion Fund, aims to address a real need in the garment industry by promoting scalable solutions around key supply chain challenges.
“The Good Fashion Fund is … focused solely on driving the implementation of innovative solutions in the fashion industry,” Katrin Ley, Managing Director of Fashion for Good, the initiator of the fund, told Sustainable Brands.
In addition to Fashion for Good, the fund counts C&A Foundation, FOUNT and Mills Fabrica as founding members. The initial size of the fund is about $13 million, which will be dispersed to manufacturers as loans to enable them to adopt highly disruptive, early-stage technologies.
Solutions are necessary because it’s become clear that the global garment and fashion industry has a broad negative impact on people and the planet. From widespread labor abuses and water pollution to waste management, if we are to make textile supply chains sustainable or reach the ultimate goal – full circularity – a lot has to be done, and fast. (…)
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