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Unlocking the Trillion-Dollar Fashion Decarbonisation Opportunity

References

  1. WRI and Aii (2021). Roadmap to Net Zero: Delivering Science-Based Targets in the Apparel Sector. Available at: https://apparelimpact.org/wp-content/uploads/2021/11/21_WorkingPaper_RoadmapNetZero_.pdf
  2. Excluding footwear
  3. Fashion for Good. 2019. Investing in Textile Innovation. Available at: https://fashionforgood.com/wp-content/uploads/2019/10/FashionForGood_Investing-in-Textile-Innovation_October.pdf
  4. Intergovernmental Panel on Climate Change (IPCC). 2021. AR6 Climate Change 2021:
  5. McKinsey & Company and GFA. 2020. Fashion on Climate, How the Fashion Industry can Urgently Act to Reduce its Greenhouse Gas Emissions. Available at: https://www.mckinsey.com/~/media/mckinsey/industries/retail/our%20 insights/fashion%20on%20climate/fashion-on-climate-full-report.pdf.
  6. Quantis. 2018. Measuring Fashion: Insights from the Environmental Impact of the Global Apparel and Footwear Industries. Available at: https://quantis-intl.com/report/measuring-fashion-report/
  7. World Resources Institute. 2019. Apparel and Footwear Sector Science-Based Targets Guidance. Available at: https://www.wri.org/research/apparel-and-footwear-sector-science-based-targets-guidance
  8. World Economic Forum (WEF) and Boston Consulting Group (BCG). 2021. Net-Zero Challenge: The supply chain opportunity. Available at: https://www.weforum.org/reports/net-zero-challenge-the-supply-chain-opportunity.
  9. This analysis excludes footwear, leather and luxury goods and home textiles
  10. Greenhouse Gas Protocol (GHG Protocol). 2015. GHG Protocol Corporate Accounting and Reporting Standard. Available at: https://ghgprotocol.org/corporate-standard.
  11. The Carbon Disclosure Project, an industry standard for carbon reporting, weights scope 3 emissions, called “Value Chain Emissions” at only 5% of a company’s overall score. Carbon Disclosure Project. 2020. Climate Change 2020: General Scoring Methodology Category Weightings. Available at: https://6fefcbb86e61af1b2fc4- c70d8ead6ced550b4d987d7c03fcdd1d.ssl.cf3.rackcdn.com/cms/guidance_docs/pdfs/000/002/290/ original/2020_CC_General_and_Sectors_weightings_V2_FINAL.pdf?1588864063
  12. The Fashion Pact. 2019. The Fashion Pact. Available at: https://thefashionpact.org/
  13. The Fashion Pact. 2020. First Steps to Transform Our Industry. Available at: https://thefashionpact.org/ wpcontent/uploads/2020/10/038906e111abca13dce4c77d419e4f21.pdf
  14. United Nations Framework Convention on Climate Change (UNFCCC). 2020. Fashion Industry Charter for Climate Action – Climate Action Playbook. Available at: https://unfccc.int/documents/250059.
  15. WRI and Aii (2021). Roadmap to Net Zero: Delivering Science-Based Targets in the Apparel Sector. https://apparelimpact.org/wp-content/uploads/2021/11/21_WorkingPaper_RoadmapNetZero_.pdf
  16. WRI and Aii (2021). Roadmap to Net Zero: Delivering Science-Based Targets in the Apparel Sector. https://apparelimpact.org/wp-content/uploads/2021/11/21_WorkingPaper_RoadmapNetZero_.pdf
  17. McKinsey&CompanyandGlobalFashionAgenda(GFA).2020.FashiononClimate,HowtheFashionIndustry can Urgently Act to Reduce its Greenhouse Gas Emissions. Available at: https://www.mckinsey.com/~/media/mckinsey/industries/retail/our%20insights/fashion%20on%20climate/fashion-on-climate-full-report.pdf.
  18. Quantis. 2018. Measuring Fashion: Insights from the Environmental Impact of the Global Apparel and Footwear Industries. Available at: https://quantis-intl.com/report/measuring-fashion-report/.
  19. World Resources Institute (WRI). 2019. Apparel and Footwear Sector Science-Based Targets Guidance. Available at: https://www.wri.org/research/apparel-and-footwear-sector-science-based-targets-guidance.
  20. WRI and Aii (2021). Roadmap to Net Zero: Delivering Science-Based Targets in the Apparel Sector. https://apparelimpact.org/wpcontent/uploads/2021/11/21_WorkingPaper_RoadmapNetZero_.pdf
  21. WRI and Aii(2021).Roadmap to Net Zero: Delivering Science-Based Targets in the Apparel Sector. https://apparelimpact.org/wp-content/uploads/2021/11/21_WorkingPaper_RoadmapNetZero_.pdf
  22. The final solution category includes various initiatives as calculated by McKinsey & Company and Global Fashion Agenda (GFA), Fashion on Climate Report (2020), including reductions in overproduction, an increased market share of re-commerce and other circular business models, extensions of average product life, and improvements in consumer washing behaviour. Financing requirements were not calculated for this category.
  23. National Renewable Energy Laboratory. 2021. Documenting a Decade of Cost Declines for PV Systems. Available at: https://www.nrel.gov/news/program/2021/documenting-a-decade-of-cost-declines-for-pv-systems.html.
  24. Mathis, W. 2021. Building New Renewables Is Cheaper Than Burning Fossil Fuels. Bloomberg Green. Available at: https://www.bloomberg.com/news/articles/2021-06-23/building-new-renewables-cheaper-than- running-fossil-fuel-plants.
  25. Science Facts. 2020. Types of Renewable Energy Sources. Available at: https://www.sciencefacts.net/types-of- renewable-energy.html.
  26. WEF and BCG. 2021. Net-Zero Challenge: The supply chain opportunity. Available at: https://www.weforum.org/reports/net-zero-challenge-the-supply-chain-opportunity.
  27. WRI and Aii (2021). Roadmap to Net Zero: Delivering Science-Based Targets in the Apparel Sector. https://apparelimpact.org/wpcontent/uploads/2021/11/21_WorkingPaper_RoadmapNetZero_.pdf.
  28. WRI and Aii (2021). Roadmap to Net Zero: Delivering Science-Based Targets in the Apparel Sector. https://apparelimpact.org/wpcontent/uploads/2021/11/21_WorkingPaper_RoadmapNetZero_.pdf
  29. Adidas. 2019. Environmental Good Practice Guide & Toolkit. Available at: https://www.adidas-group.com/media/ filer_public/1b/28/1b28e1cc-c702-4dd4-8f1d-4779ca61f083/envgoodpracticetoolkit_en_2019.pdf.
  30. UNFCCC. 2020. Fashion Industry Charter for Climate Action – Climate Action Playbook. Available at: https://unfccc.int/documents/250059.
  31. WRIandAii(2021).RoadmaptoNetZero:DeliveringScience-BasedTargetsintheApparelSector. https://apparelimpact.org/wp-content/uploads/2021/11/21_WorkingPaper_RoadmapNetZero_.pdf
  32. Textile Exchange’s Preferred Fiber & Materials Market Report 2021
  33. UNFCCC. 2020. Fashion Industry Charter for Climate Action – Climate Action Playbook. Available at: https://unfccc.int/documents/250059.
  34. WRI and Aii (2021). Roadmap to Net Zero: Delivering Science-Based Targets in the Apparel Sector. https://apparelimpact.org/wp-content/uploads/2021/11/21_WorkingPaper_RoadmapNetZero_.pdf
  35. Textile Exchange. 2021. Preferred Fiber & Materials Market Report 2021. Available at: https://textileexchange.org/ wp-content/uploads/2021/08/Textile-Exchange_Preferred-Fiber-and-Materials-Market-Report_2021.pdf.
  36. Partnership for Cleaner Textile. n.d. Partnership for Cleaner Textile. Available at: https://www.textilepact.net/.
  37. WRI and Aii (2021). Roadmap to Net Zero: Delivering Science-Based Targets in the Apparel Sector. https://apparelimpact.org/wp-content/uploads/2021/11/21_WorkingPaper_RoadmapNetZero_.pdf
  38. There is also evidence that further energy efficiency savings can be achieved (as high as a 50% reduction in total energy use) by making more extensive capital improvements such as upgrading machines to the latest, state of the art models, as well as implementing more sustainable dyeing practices such as low water dyeing and and high affinity dyes. While these solutions are viable and important, the potential emissions savings and financial investment required have not been included within the scope of this report.
  39. Natural Resources Defense Council (NRDC). 2018. Clean by Design 2018 Mill Overview. Available at: https://www.nrdc.org/sites/default/files/brochure-for-cbd_2018-02-27.pdf.
  40. UNFCCC. 2020. Fashion Industry Charter for Climate Action – Climate Action Playbook. Available at: https://unfccc.int/documents/250059.
  41. Adidas. 2019. Environmental Good Practice Guide & Toolkit. Available at: https://www.adidas-group.com/media/ filer_public/1b/28/1b28e1cc-c702-4dd4-8f1d-4779ca61f083/envgoodpracticetoolkit_en_2019.pdf.
  42. Forest Research. 2021. Carbon emissions of different fuels. Available at: https://www.forestresearch.gov.uk/ tools-and-resources/fthr/biomass-energy-resources/reference-biomass/facts-figures/carbon-emissions-of- different-fuels/.
  43. WRI and Aii (2021). Roadmap to Net Zero: Delivering Science-Based Targets in the Apparel Sector. https://apparelimpact.org/wp-content/uploads/2021/11/21_WorkingPaper_RoadmapNetZero_.pdf
  44. Except for printing
  45. Textile Exchange. 2021. Preferred Fiber & Materials Market Report 2021. Available at: https://textileexchange.org/ wp-content/uploads/2021/08/Textile-Exchange_Preferred-Fiber-and-Materials-Market-Report_2021.pdf.
  46. Nova Institute. n.d. Renewable Carbon. Available at: https://renewable-carbon.eu/.
  47. Biofabricate and Fashion for Good. 2020. UNDERSTANDING ‘BIO’ MATERIAL INNOVATION: a primer for the fashion industry. Available at: https://reports.fashionforgood.com/wp-content/uploads/2020/12/Understanding- Bio-Material-Innovations-Report.pdf
  48. WRI and Aii (2021). Roadmap to Net Zero: Delivering Science-Based Targets in the Apparel Sector. https://apparelimpact.org/wp-content/uploads/2021/11/21_WorkingPaper_RoadmapNetZero_.pdf
  49. Climate Bonds Initiative. 2021. 2021 Green Forecast Updated to Half a Trillion – Latest H1 Figures Signal New Surge in Global Green, Social & Sustainability Investment. Available at: https://www.climatebonds.net/2021/08/ climate-bonds-updates-2021-green-forecast-half-trillion-latest-h1-figures-signal-new-surge
  50. H&M Group. 2021. Sustainability-Linked Bond Framework. Available at: https://hmgroup.com/wp-content/uploads/2021/02/HM_Sustainability-Linked-Bond-Framework.pdf.
  51. GoodFashionFund.n.d.Availableat: https://goodfashionfund.com/.
  52. Jeanologia. n.d. Available at: https://www.jeanologia.com/.
  53. International Finance Corporation. 2020. Levi Strauss & Co. Manufacturing Case Study. Available at: https://www.ifc.org/wps/wcm/connect/industry_ext_content/ifc_external_corporate_site/manufacturing/ resources/manufacturing_casestudy_levis.
  54. Apparel Resources. 2019. IFC’s unparalleled vision to bolster the garment and textile industry of Vietnam. Available at: https://apparelresources.com/business-news/sustainability/ifcs-unparalleled-vision-bolster-garment- textile-industry-vietnam/.
  55. Vogue Fashion. 2020. How much more would you pay for a sustainable T-shirt? Available at: https://www.voguebusiness.com/sustainability/how-much-more-would-you-pay-for-a-sustainable-t-shirt
  56. Solar Energy Industries Association. 2012. Solar Power Purchase Agreements. Available at: https://www.seia.org/research-resources/solar-power-purchase-agreements.
  57. Berkeley Energy Commercial Industrial Solutions. n.d. Available at: https://www.berkeley-energy.com/.
  58. Clean Energy Investment Accelerator. n.d. Available at: https://www.berkeley-energy.com/.
  59. Concessionary finance is a financial investment in which investors accept a lower return on investment in return for additional environmental, social and/or economic development benefits of the project.
  60. Organic Cotton Accelerator. n.d. OCA Programmes.
    Available at: https://www.organiccottonaccelerator.org/oca-programmes.
  61. NRDC. 2018. Clean by Design 2018 Mill Overview. Available at: https://www.nrdc.org/sites/default/files/brochure-for-cbd_2018-02-27.pdf.
  62. Skyven Technologies. n.d. How we Work. Available at: https://skyven.co/how-we-work/.
  63. https://www.ecotextile.com/2021022627458/dyes-chemicals-news/h-m-backs-dyeing-and-finishing-innovator.html
  64. European Investment Bank. 2021. EU backs Renewcell to boost circularity in the fashion industry. Available at: https://www.eib.org/en/press/all/2021-239-eu-backs-renewcell-to-boost-circularity-in-the-fashion-industry
  65. See Financing the Transformation in Fashion report for more information on these barriers.