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2023 SUSTAINABILITY REPORT: SUSTAINABILITY NOW
While the industry wants sustainability now, it’s more of a process than an end game—involving short- and long-term buy-in from brands, retailers, suppliers, manufacturers and consumers.
With just 12 of the 17 SDG targets on track it’s become apparent that the road to 2030 is a bit longer—with tougher terrain to traverse than expected. The 2023 Sustainability Report seeks to educate on why sustainability needs to be prioritized, and what can be done now for a more sustainable world in 2030.
"Consumers have become willing to vote with their wallets for brands that aligh with their values"
Consumer awareness surrounding sustainability has been on an upward trajectory for some time, and data shows that the appetite for eco-friendly products persists even in an inflationary economic environment.
Shopping rewards app Shopkick, which surveyed more than10,000 individuals across the U.S. from March 24 through March 30, found that 63 percent consider a product’s sustainability profile as much as its affordability when making a purchase.
Nearly one-fifth of surveyed respondents said they would abandon a brand that didn’t share their environmental outlook and switch to one that aligns more closely. The shift could be taking place quicker than many companies anticipated.
Read the full report to not only undersatand how consumer demand is pushing the sustainability conversatoin but also explore topics such as...
- What initiatives Patagonia, Levi’s and The North Face took to top Kearney’s Circular Fashion Index as the brands most committed to fashion circularity.
- Why the “S” in ESG is becoming increasingly important.
- Which textile and fashion companies are featured on the Ellen MacArthur Foundation’s Circular Startup Index.
- Why consumers’ awareness and affinity for eco-friendly products is growing.
- How apparel brands are shifting their eco efforts in response to greenwashing accusations.
- How secondhand clothing and recycled textiles will become a $9 billion sector by 2027.
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