To Succeed, ESG Practices Must Take a ‘Management Approach’
Accenture, the Responsible Business Coalition, Fashion Makes Changes and WWD have teamed up to offer the fashion industry a playbook aimed at making ESG practices a management approach with clearly defined goals and actions.
The free report, “Scaling ESG Solutions in Fashion: A Pragmatic Sustainability Playbook,” focuses on seven high-impact priorities and ESG solutions for the fashion industry: Raw Materials, Climate, Chemicals, Fair Labor, Sustainability Measurement, Innovation and Circularity, and Engaging Consumers. Each priority area has its own plan, developed with consolidated leading practices, industry goals, metrics, recommendations, departmental considerations and resources — serving as a comprehensive reference guide for fashion CEOs and other retail leaders to take immediate action.
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[To get a copy of the report, click here]
For example, with fair labor, the report has a goal that calls for implementing fair compensation with objectives of committing to responsible recruitment and implementing empowerment and education programs in and around supply chain communities, among others.
The playbook then lists 2022 actions such as commitments to responsible recruitment and empowerment, including programs to support DEI and environmental justice, and establishing workplace-based programs to empower and educate workers in and around the global supply chain.
The authors of the report acknowledge that addressing climate change, fair labor and other ESG issues is complex. But adopting ESG as a management approach is a gamechanger. And doing so “includes not just reversing the climate crisis, but driving revenue growth, supply chain resilience, product innovation, brand differentiation and exceptional customer experience,” the report stated.
