Fashion for Good and Spring Lane Capital unveil sustainable fashion's future
Collaboration is key for the fashion industry to move towards a more sustainable future. In a new report by Fashion for Good and Spring Lane Capital, numerous solutions are put forth to turn sustainable innovations into reality and provide a financial roadmap for sustainable investments.
A key report for fashion forward thinkers
Fashion for Good and Spring Lane Capital have joined forces to publish a report called "The Great Unlock: Bridging the Gap in Fashion Innovation with Financial Solutions." This report focuses on what is necessary to scale sustainable innovations that will reduce the emission impact of the fashion industry on the planet.
In particular, the report examines the different financial support required to turn sustainable innovations into reality. To collectively assist the fashion industry’s transition towards becoming environmentally friendly and achieve net zero emissions.
Sustainability and fashion don’t have to be mutually exclusive
It is well documented that the fashion industry has a significant impact on the environment. Approximately 60% of all materials used by the fashion industry is made from plastic as well 20% of industrial wastewater pollution worldwide originates from the fashion industry. This is where Fashion for Good steps in.
Fashion for Good is a Dutch based global initiative with a mission to move towards solutions in the fashion industry that are better for people and the planet. A key part of this is their innovation platform, where brands, retailers, funders, innovators and manufacturers collaborate on digital innovation. Focused on programs such as their circular textile program – they work on closed-loop systems for textiles and materials to reduce waste in the fashion industry.
So far, they've identified 2,886 innovators and initiated 386 pilot projects. With the fashion industry racing against the clock to reach net-zero emissions by 2050, this report provides a clear financial roadmap for sustainable investments. Backed by numerous case studies, it outlines essential steps for each phase, from research and development to replication and adoption, placing the planet's future at its core.
A collaborative effort required for change
A September 2023 report by Business Survey Netherlands highlighted financial challenges as the primary hurdle for businesses shifting toward sustainability. That's where this Fashion for Good and Spring Capital report steps in, offering valuable guidance for textile businesses, irrespective of size. It emphasises project finance, a unique financing approach where project assets and cash flows secure project-related loans. This approach accelerates the scaling of sustainable technologies compared to traditional funding methods.
Alongside this, discussing the importance of project finance. The report includes a call to action to all major stakeholders in the fashion industry, from brands to supply chain partners that all have a goal to unlock the funding needed to transition sustainability from an afterthought, to the primary focus.
Fashion for Good and Spring Lane Capital have already called upon these stakeholders at Fashion for Good’s Annual Summit that kicked off in Amsterdam and New York earlier this month. Stay tuned to read Fashion for Good’s next report, or you can visit their museum located in the heart of Amsterdam to learn more about their mission.