The planet can’t wait any longer. The latest data from the UN World Meteorological Organization (WMO) report reminds us of this, it proves it. disappointing COP27 resultswhose sole main purpose is to create a fund to compensate for the loss and damage caused by climate change.
According to a study by the Global Carbon Project There is a 1 in 2 chance that global warming will not drop to 1.5°C by 2030., because the last 8 years have been the hottest in history. In the fashion world, this means greater vulnerability for the entire sector and a range of supply chain risks, as well as shortages of raw materials and difficult conditions for workers forced to work in ever-higher temperatures. As the world approaches its turning point, What can fashion learn from COP27?
How much are we willing to spend on the planet?
Saving the planet has a price that not everyone is willing to pay.. Just look how Cop27 ended without the approval of the 100 billion a year fund provided by the Paris Agreement to help less developed countries in climate policy, and remained a dead letter. If the fashion world wants to achieve results, it will have to fork out: the financial investments of the sector are starting to grow, but this is not enough. Achieving zero emissions by 2050, for example, will require a total investment of $1 trillion, according to the nonprofit Clothing Impact Institute (AII).
In June the association has launched a fund to raise $250 million (and unlock another $2 billion) in climate finance.. So far, the company has raised $60 million from several brands and charities, including Target, PVH and H&M Group. A few days ago, the Swedish fast fashion giant said it would allocate around SEK 3 billion (about $282 million) a year to reduce emissions in its supply chain, a commendable but isolated effort. Considering that most fashion brands still do not talk about their climate commitment in monetary terms and only talk about the climate issue with general goals. “We are far from where we need to be and where we should be,” confirms Global Fashion Agenda Managing Director Federica Marchionni, speaking at a panel hosted by the United Nations Fashion Charter at Cop27.
The devastating climate impacts on populations can no longer be ignored, especially in the poorest countries.but those who have to pay the bills for these environmental disasters are ignoring their responsibilities. For fashion, which has built its supply chains in some of the world’s most vulnerable regions, the consequences will be enormous, from crop destruction to worsening living conditions for workers due to rising temperatures. Therefore, specific actions are needed. No more empty slogans and greenwashing campaigns. “The use of fictitious zero-emissions promises to cover up a massive expansion of fossil fuel production is deplorable,” said UN Secretary-General António Guterres. “The farce must end.” Words that were echoed in a speech by climate activist Sophia Kianni: “Stop lying, stop greenwashing and start putting people and the planet over profit.”
Source: Elle