According to a report recently released by Textile Exchange in partnership with Boston Consulting Group (BCG) and Quantis, obtaining enough raw materials for sustainability and sourcing purposes could seriously influence bottom line results for fashion brands.
The supply of lower impact raw materials will need to increase by 2030 considerably, since the industry has to adjust to incoming regulation and decarbonisation commitments. However, without greater investments and commitment from brands themselves, it may not be possible to increase sustainable production of fibres, such as regenerative cotton or recycled polyester. Currently, the industry is facing a 133 million tonne shortfall by the end of the decade, according to the new analysis. The study also predicts that the fashion industry is to await an unprecedented increase in government regulation in the near future. More than 35 new pieces of sustainability-linked legislation are expected to go into effect around the world by 2027. Preparing for the new system requires time and investment on almost every level. Going a step further and layering on regenerative practices, is even more complex since it is still insufficiently defined exactly what “regenerative” means and how it should be measured. Finally, more upfront spending is required in order to develop manufacturing capacity for new material and textile-to-textile recycling innovations.
