ESG News reported on a supplier data collection initiative being developed by luxury brands including CHANEL, Kering, Moncler Group, Prada Group and others. The effort
“seeks to address one of the sector’s most persistent structural challenges: fragmented, inconsistent, and resource-intensive reporting requirements placed on small and mid-sized suppliers.
More than 55 CEOs representing around a third of the global fashion industry by volume have mandated the coalition to drive collective action on climate, biodiversity and oceans. The new Accelerator is the first region-specific mechanism aimed at harmonising environmental data and reducing duplication for suppliers who often work with multiple brands, each requiring different formats and verification approaches…
The Accelerator’s first output is a jointly developed questionnaire covering energy use, water consumption and waste. Tested over six weeks with 74 Italian suppliers, the tool has been designed to eliminate redundant requests while improving the standard and comparability of data. It has already been adopted by a number of manufacturing partners and will be updated by a technical committee to reflect emerging standards.”
There will probably be some growing pains, but ultimately this is very likely to reap meaningful rewards in terms of efficiency and data validation. The electronics and tin, tantalum, tungsten and gold sectors developed a similar program 15 years ago under what is now the Responsible Minerals Initiative in response to the US conflict minerals mandate (Section 1502 of the Dodd-Frank Act). RMI’s Minerals Reporting Template is perhaps the best example of how successful this approach can be.
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