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Submitted URL: https://www.futuresupplierinitiative.org/
Effective URL: https://futuresupplierinitiative.com/
Submission: On October 22 via api from US — Scanned from NL
Effective URL: https://futuresupplierinitiative.com/
Submission: On October 22 via api from US — Scanned from NL
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</form>GET https://futuresupplierinitiative.com/
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Collective financing for climate * Why * What * How * FAQ * Press * About ACHIEVING LOWER IMPACT PRODUCTION together WHY We acknowledge the negative impact of scope 3 emissions in the fashion industry and the unique challenges they pose in multi-tier supply chains. Learn more WHAT FSI develops and finances projects that allow your mills, your manufacturers and your company to achieve near-term Science Based Targets. Learn more HOW To significantly reduce emissions, enabling brands and suppliers to achieve Science based targets, suppliers need to make a range of investment. Learn more Today, the fashion industry stands at a crossroads. Will it continue with business as usual or, grasp the opportunity of a lifetime and become renewable, regenerative, and restorative, delivering for all stakeholders and not just shareholders. Only by working together across the supply chain can businesses overcome risks, embrace evolving technology, and design financial solutions to deliver on its biggest needs. Paul Polman Co-Founder and Co-Chair of The Fashion Pact FUTURE SUPPLIER INITIATIVE IN THE PRESS Find more mentions about Future Supplier Initiative in the press at our media mentions page. Got questions? We’ve got answers! Previous June 14, 2024 H&M GROUP AND OTHER MAJOR FASHION BRANDS UNITE TO LAUNCH COLLECTIVE FINANCING MODEL FOR SECTOR DECARBONIZATION Alongside financial incentives, technical support will be provided to help suppliers identify and implement low carbon technologies and solutions. Baselining and monitoring emission reductions will also be conducted to demonstrate the impact of projects financed and implemented by the initiative. The initiative seeks to identify and match projects with the highest potential for impact. By identifying common factory units, interventions and costs, it will enable a global and regional joint effort between fashion brands, moving from targets and roadmaps to implementation and measurable reduction, beyond energy efficiency measurements. Read article at ESGnews Oliver Balch, September 4, 2024 BRAND WATCH: CALLS GROW FOR REGULATION AS FASHION FIRMS RESIST CALLS TO DISCLOSE THEIR CARBON FOOTPRINT The Future Supplier Initiative, a new collective financing mechanism coordinated by the brand-backed Fashion Pact, is held up by industry advocates as an example of such collaboration. Alongside financial incentives, the initiative helps suppliers identify cost-effective decarbonisation projects with high-impact potential. Embedded in the design of the initiative is the provision of ongoing supplier feedback, says Eva von Alvensleben, the pact’s executive director: “Suppliers are consulted from the very beginning of the process and are instrumental in approving and shaping these projects.” Read article at Reuters Sarah Kent, June 21 2024 WHO WILL FINANCE A MORE SUSTAINABLE FASHION INDUSTRY? The collective aspect is also important because it’s rare for one brand to be a supplier’s only customer. Getting a bigger group on board splits the risk and addresses the free-rider problem; brands are reluctant to go out on a limb to help finance projects that will benefit their competitors, especially when they’ll only be able to take credit for the sliver of emissions reductions that relates to the volumes they source. Working together reduces this friction and individual risks. For instance, if all four brands are present in a factory where a $2 million project to install solar panels has been identified, each would be asked if they’d like to underwrite $500,000. The goal is to get more brands and banks involved and to expand the programme into more countries, including Vietnam, India, China, Italy and Türkiye. Read article at Business of Fashion Rhonda Richford, June 13 2024 EXCLUSIVE: BESTSELLER, GAP INC., H&M GROUP AND MANGO JOIN FORCES ON RENEWABLE ENERGY FINANCE INITIATIVE “This initiative is really what we see as being the next big thing that our industry needs. It needs collaboration across companies, brands and businesses,” Bestseller chief executive officer Anders Holch Povlsen told WWD. “We all know that the big challenges lie deep within our supply chain. That’s where we have the [biggest] footprint today, and this is where we need to work.” The Fashion Industry Charter for Climate Action estimates that 99 percent of total fashion brand emissions occur at the earlier levels of the supply chain. The brands’ new financing initiative looks to share the risks with Tier 1 and 2 facilities, or those at the raw material production, dyeing and finishing and manufacturing level. Read article at WWD Jasmin Malik Chua, June 17 2024 CAN COLLABORATIVE FINANCING HELP FASHION DECARBONIZE? How the FSI will work goes something like this: Participating brands will share the names, profiles and energy data of their Tier 1 and 2 factories with the risk management firm Guidehouse for analysis against a slew of parameters, such as the existence of climate targets and reduction potential. Brands will then decide which to prioritize and help “enable” their financing—however they end up doing it. The idea is to “bridge the investment gap” that prevents factories from, say, switching from fossil fuels to renewable energy, von Alvensleben said. “A collective approach is about sharing costs; it’s about sharing risks; it’s about sharing responsibilities,” she said. “This whole industry has systematic issues that we need to overcome, that are bigger than one company alone can solve.” Read article at Sourcing Journal Steven Downes, June 17 2024 GAP, H&M, BESTSELLER, MANGO: UNITING FOR SUSTAINABLE FASHION The Future Supplier Initiative, facilitated by The Fashion Pact in partnership with Apparel Impact Institute, Guidehouse, and DBS Bank, launches with a programme in Bangladesh supported by Bestseller, Gap Inc., H&M Group and Mango. It is actively recruiting more brands, with the intention of expanding to other key apparel manufacturing regions including Vietnam, India, China, Italy and Turkey. With 99% of total fashion brand emissions occurring in the supply chain (Scope 3), the initiative aims to “accelerate the transition to net zero by sharing the financial risks and responsibilities of transitioning to renewable energy sources in Tier 1 and 2 garment and textile factories”. Read article at Sustainability Magazine June 14, 2024 H&M GROUP AND OTHER MAJOR FASHION BRANDS UNITE TO LAUNCH COLLECTIVE FINANCING MODEL FOR SECTOR DECARBONIZATION Alongside financial incentives, technical support will be provided to help suppliers identify and implement low carbon technologies and solutions. Baselining and monitoring emission reductions will also be conducted to demonstrate the impact of projects financed and implemented by the initiative. The initiative seeks to identify and match projects with the highest potential for impact. By identifying common factory units, interventions and costs, it will enable a global and regional joint effort between fashion brands, moving from targets and roadmaps to implementation and measurable reduction, beyond energy efficiency measurements. Read article at ESGnews Oliver Balch, September 4, 2024 BRAND WATCH: CALLS GROW FOR REGULATION AS FASHION FIRMS RESIST CALLS TO DISCLOSE THEIR CARBON FOOTPRINT The Future Supplier Initiative, a new collective financing mechanism coordinated by the brand-backed Fashion Pact, is held up by industry advocates as an example of such collaboration. Alongside financial incentives, the initiative helps suppliers identify cost-effective decarbonisation projects with high-impact potential. Embedded in the design of the initiative is the provision of ongoing supplier feedback, says Eva von Alvensleben, the pact’s executive director: “Suppliers are consulted from the very beginning of the process and are instrumental in approving and shaping these projects.” Read article at Reuters Sarah Kent, June 21 2024 WHO WILL FINANCE A MORE SUSTAINABLE FASHION INDUSTRY? The collective aspect is also important because it’s rare for one brand to be a supplier’s only customer. Getting a bigger group on board splits the risk and addresses the free-rider problem; brands are reluctant to go out on a limb to help finance projects that will benefit their competitors, especially when they’ll only be able to take credit for the sliver of emissions reductions that relates to the volumes they source. Working together reduces this friction and individual risks. For instance, if all four brands are present in a factory where a $2 million project to install solar panels has been identified, each would be asked if they’d like to underwrite $500,000. The goal is to get more brands and banks involved and to expand the programme into more countries, including Vietnam, India, China, Italy and Türkiye. Read article at Business of Fashion Rhonda Richford, June 13 2024 EXCLUSIVE: BESTSELLER, GAP INC., H&M GROUP AND MANGO JOIN FORCES ON RENEWABLE ENERGY FINANCE INITIATIVE “This initiative is really what we see as being the next big thing that our industry needs. It needs collaboration across companies, brands and businesses,” Bestseller chief executive officer Anders Holch Povlsen told WWD. “We all know that the big challenges lie deep within our supply chain. That’s where we have the [biggest] footprint today, and this is where we need to work.” The Fashion Industry Charter for Climate Action estimates that 99 percent of total fashion brand emissions occur at the earlier levels of the supply chain. The brands’ new financing initiative looks to share the risks with Tier 1 and 2 facilities, or those at the raw material production, dyeing and finishing and manufacturing level. Read article at WWD Jasmin Malik Chua, June 17 2024 CAN COLLABORATIVE FINANCING HELP FASHION DECARBONIZE? How the FSI will work goes something like this: Participating brands will share the names, profiles and energy data of their Tier 1 and 2 factories with the risk management firm Guidehouse for analysis against a slew of parameters, such as the existence of climate targets and reduction potential. Brands will then decide which to prioritize and help “enable” their financing—however they end up doing it. The idea is to “bridge the investment gap” that prevents factories from, say, switching from fossil fuels to renewable energy, von Alvensleben said. “A collective approach is about sharing costs; it’s about sharing risks; it’s about sharing responsibilities,” she said. “This whole industry has systematic issues that we need to overcome, that are bigger than one company alone can solve.” Read article at Sourcing Journal Steven Downes, June 17 2024 GAP, H&M, BESTSELLER, MANGO: UNITING FOR SUSTAINABLE FASHION The Future Supplier Initiative, facilitated by The Fashion Pact in partnership with Apparel Impact Institute, Guidehouse, and DBS Bank, launches with a programme in Bangladesh supported by Bestseller, Gap Inc., H&M Group and Mango. It is actively recruiting more brands, with the intention of expanding to other key apparel manufacturing regions including Vietnam, India, China, Italy and Turkey. With 99% of total fashion brand emissions occurring in the supply chain (Scope 3), the initiative aims to “accelerate the transition to net zero by sharing the financial risks and responsibilities of transitioning to renewable energy sources in Tier 1 and 2 garment and textile factories”. Read article at Sustainability Magazine June 14, 2024 H&M GROUP AND OTHER MAJOR FASHION BRANDS UNITE TO LAUNCH COLLECTIVE FINANCING MODEL FOR SECTOR DECARBONIZATION Alongside financial incentives, technical support will be provided to help suppliers identify and implement low carbon technologies and solutions. Baselining and monitoring emission reductions will also be conducted to demonstrate the impact of projects financed and implemented by the initiative. The initiative seeks to identify and match projects with the highest potential for impact. By identifying common factory units, interventions and costs, it will enable a global and regional joint effort between fashion brands, moving from targets and roadmaps to implementation and measurable reduction, beyond energy efficiency measurements. Read article at ESGnews Next We invite you to join forces in a collective financing mechanism, feasible across segments and geographies. Accelerating the transition to a fossil-fuel free fashion industry. We are currently recruiting apparel brands interested in financing decarbonisation in Bangladesh, Vietnam, China, Turkey or Italy. Suppliers nominated by the brands will be contacted through the initiative, please read more here. All our focus is on demonstrating progress and at this point we are not able to answer requests from solution providers or consulting firms. -------------------------------------------------------------------------------- CONTACT Press press@fashionsupplierinitiative.com General hello@fashionsupplierinitiative.com GET NOTIFIED WHEN SOMETHING HAPPENS Name(Required) Email Name(Required) Accept terms I approve of storing my contact details as per the privacy policy. Collective financing for climate * Why * What * How * About Search Copyright © 2024 Guidehouse — Privacy notice Cookies We serve non-intrusive cookies. If you think that's ok, just click "Accept all". You can also choose what kind of cookies you want by clicking "Settings". Read our policy Settings Refuse all Accept all Cookies Choose what kind of cookies to accept. Your choice will be saved for one year. Read our policy * Necessary These cookies are not optional. 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