Thursday, 9 December, 2021

Fashion industry to contribute 80pc circular by 2030: Report

The fashion industry could become 80 percent circular by 2030 if there is an increased investment in the existing recycling technologies and infrastructures, said a new report on Monday.

The findings are based on an independent analysis and learning from the Circular Fashion Partnership in Bangladesh - a cross-sectoral project to scale post-industrial recycling and capture textile  value domestically in Bangladesh - one of the largest garment producing countries in the world, reports UNB.

In order to deliver the 2030 scenario, it estimated that US$ 5-7 billion investment is needed by 2026. The shift also requires increased confidence in the business case, calling for greater transparency of the demand for recycled output and the consistent supply of traceable high-quality feedstock.

In the wake of COP26, Global Fashion Agenda (GFA) , the leading non-profit for industry collaboration on sustainability in fashion, and its Strategic Knowledge Partner, McKinsey & Company, have published the new report - Scaling Circularity - which reveals the opportunities and investment required to scale circular fashion systems. The clothing and textile industry accounts for 4% of global CO2eq emissions, equivalent to the emissions of France, Germany and UK combined, and material production is the largest polluter within the value chain – accounting for 70% of fashion’s greenhouse gas (GHG) emissions.

Yet currently, less than 1% of material used to produce clothing is recycled into new clothing, representing a loss of more than 100 billion USD worth of materials each year.

Therefore, the report says, scaling circularity is crucial to deliver the radical emissions reduction needed to meet the Paris Agreement’s 1.5 degree pathway and the other ambitious climate targets that were recently announced at COP26.

Scaling Circularity modeled the potential for scaling textile recycling across the full value chain in 2035 based on existing technologies.

This analysis suggests current technologies have the potential to deliver 75% textile-to-textile recycling into the fashion system, and a further 5% recycled feedstock from other industries. The analysis also indicated that major recycling technologies deliver better environmental outcomes across GHG emissions, water depletion and land use.