H&M, Adidas and Kering are among the 15 largest listed fashion companies falling short of the Paris climate agreement’s social and environmental targets….and UN Sustainable Development Goals.
That’s according to a new report by the Business of Fashion.
The fashion industry is under increasing pressure from consumers and governments to clean up its act.
Statistics cited by the World Economic Forum show that the industry is responsible for at least 4% of global greenhouse gas emissions.
The Business of Fashion report analyzed publicly disclosed information from the biggest companies by revenue in three categories - luxury, sportswear, and high street fashion.
Brands were then scored out of 100 in their progress towards meeting 16 targets relating to: emissions, waste, workers’ rights, water, and materials.
Companies were also ranked based on transparency of their practices.
The average score for the 15 big names was 36 points.
Luxury group Kering came top with 49 points and Under Armour ranked lowest at 9.
Kering and Nike performed best on transparency,
while PVH Corp, Levi Strauss, and VF Corp ranked highest on their efforts to reduce emissions.
But on average, waste and workers’ rights were the companies' biggest downfalls,
and the report found the brands were more likely to disclose information on targets rather than concrete actions towards fulfilling them.
The majority of companies cited did not immediately respond to a request for comment.
Adidas said it was working closely with its partners to achieve climate neutrality in its operations by 2025 and throughout its supply chains by 2050.
CEO Kasper Rorsted said more than 70% of consumers regard sustainability as an important consideration when making a purchase.