24/08/2023
The European Union's Strategy for Sustainable and Circular Textiles is reshaping the global textile industry. The strategy, recently approved by the EU Parliament, requires textile companies selling in the EU to meet durability, safety, and recyclability standards by 2030.
While the strategy is currently non-binding, it will have a major impact on Asian garment manufacturers who supply more than 70% of the EU's textiles. To continue selling products in Europe, these manufacturers will need to comply with the strategy's components.
Brands like H&M are backing sustainability efforts. Challenges include knowledge gaps, costs, and funding needs. They are also involved in initiatives like the Fashion Climate Fund and the Green Fashion Initiative to support sustainable practices in their supply chain. Despite these efforts, the industry faces challenges in terms of knowledge, resources, and financial support to transition to a circular business model. Many manufacturers lack the know-how to contribute proactively to sustainability. The financial requirement for transforming the industry is substantial, and funding from various sources, including the Green Climate Fund, is helping, but more investment is needed.
The transition to sustainable practices also presents a challenge for Asian manufacturers' competitiveness, as sustainable materials and processes can be costlier than conventional ones. Some experts suggest that European retailers might shift their sourcing strategies, considering options like nearshoring or onshoring to countries like Turkey or Eastern European nations, which may offer more sustainable yet still cost-effective options.
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