The fashion industry, is one of the biggest industries contributing $1.7 trillion to global revenue in the year 2021, expected to grow annually at a rate of 9.45% and reach $1103 billion by the year 2027 and at the same time causing pollution along with other major industries such as agriculture, manufacturing, oil and gas sector etc. Fashion industry being resource intensive sector, the industry needs to urgently address the environmental and social injustices it perpetrates due to the direct and indirect upstream and downstream sectors that are associated with the business operations. The study analyzes the existing frameworks for sustainability to determine the necessity for emphasizing Environmentally Sustainable Development at governance, planning and management levels of the industry. Preliminary reviews of studies on industry indicate that there is significant lack of legal frameworks governing Environmentally Sustainable Development revealing wide gaps in understanding the conflict between sustainability and international economic and environmental laws, and the unequal approach to sustainability globally, in all fields. Pertinent to the fashion industry, these challenges are required to be addressed by mandating environmentally sustainable development, to increase the legal obligation to sustainability while increasing the relevance and creating a standardized approach to sustainability in the industry. This in turn promotes the well-being of people, communities and the environment at large depending directly or indirectly on the industry. The study recommends further research on the area of Environmentally Sustainable Development to understand how the concept of ESD is more intricate to not only the fashion industry but to other sectors as well. The study will lead global organizations to rethink standardizing the policies, objectives on environment sustainable development before they are enforced.

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Environment Social and Governance an Emerging Conception of Sustainable Development Goals of UN in the Fashion Industry

  • Nivedita Ram,
  • Henry Jonathan

摘要

The fashion industry, is one of the biggest industries contributing $1.7 trillion to global revenue in the year 2021, expected to grow annually at a rate of 9.45% and reach $1103 billion by the year 2027 and at the same time causing pollution along with other major industries such as agriculture, manufacturing, oil and gas sector etc. Fashion industry being resource intensive sector, the industry needs to urgently address the environmental and social injustices it perpetrates due to the direct and indirect upstream and downstream sectors that are associated with the business operations. The study analyzes the existing frameworks for sustainability to determine the necessity for emphasizing Environmentally Sustainable Development at governance, planning and management levels of the industry. Preliminary reviews of studies on industry indicate that there is significant lack of legal frameworks governing Environmentally Sustainable Development revealing wide gaps in understanding the conflict between sustainability and international economic and environmental laws, and the unequal approach to sustainability globally, in all fields. Pertinent to the fashion industry, these challenges are required to be addressed by mandating environmentally sustainable development, to increase the legal obligation to sustainability while increasing the relevance and creating a standardized approach to sustainability in the industry. This in turn promotes the well-being of people, communities and the environment at large depending directly or indirectly on the industry. The study recommends further research on the area of Environmentally Sustainable Development to understand how the concept of ESD is more intricate to not only the fashion industry but to other sectors as well. The study will lead global organizations to rethink standardizing the policies, objectives on environment sustainable development before they are enforced.