Source: www.fibre2fashion.com
While leading on innovation, the global fashion industry finds it difficult to transition to circularity and still largely depends on a linear business model, according to a report by Geneva-based World Business Council for Sustainable Development (WBCSD).
Misaligned incentives and reward systems that do not factor in externalities prevent progress on the more circular and sustainable use of resources, and current incentives do not support the transition to circularity and companies lack actionable decision-making information, it notes.