Fashion Capital Of The Worlds Plight To Make Brands Accountable For Their Role In Climate Change
A long-awaited, pioneering fashion act is set to make history in the global fashion capital of the world – New York. The Fashion Sustainability and Social Accountability Act (also known as the Fashion Act), is set to be the pioneering legislation in holding brands and companies accountable for their social and climate impact.
The bill, introduced last week by state Sen. Alessandra BiaggiIn was defined as “a groundbreaking piece of legislation that will make New York the global leader” in holding the fashion industry “accountable.”
“As a global fashion and business capital of the world, New York State has a moral responsibility to serve as a leader in mitigating the environmental and social impact of the fashion industry,” Biaggi said in a news release.
The new bill would require companies to map their supply chains from the initial raw materials to factories and shipping. Companies will be required to disclose where in their supply chain they have the greatest environmental and social impact. Another requirement stipulates that worker wages would have to be disclosed with comparison made to local minimum living wages.
The New York state general will be required to provide annual reporting highlighting any companies that are in violation of the laws laid out.
The bill is set to be voted upon in late spring and if successful, companies will be given a 12month period to comply with the supply-chain mapping directive and 18months to disclose their impacts.
In a nutshell
The advantages of being purpose-led stretch well beyond saving the environment: choosing this path can have a powerful and positive impact on your business’s bottom line. Companies that choose to take action on environmental and social issues will see a double whammy of benefits: differentiating themselves from competitors by being purpose-led and reducing costs or improving sales.
What is also significant is that many sectors see the COVID crisis as an opportunity for companies to reinvent themselves, with a shift to purpose-driven metrics on people, customers, communities, and the environment. In fact, a number of business leaders believe that the pandemic has increased the expectation on businesses to drive, measure and report on social impact, sustainability, and inclusive growth.
So why should companies align going purpose-led with their social media strategy?
Well, environmental and social issues have been of major concern in recent years, and have caused consumers to think more critically about the origins, content, and manufacturing processes of the products they buy. Therefore waste, packaging, sustainability, and climate change play a pivotal role in the change of the environmental landscape for organisation's. Therefore, an organisation’s focus should not only be on maximising profits but also carrying out its operations in a manner suitable for both the environment and society.
So how can we help?
The journey toward purpose-led is not always smooth – particularly when integrating it into your social media strategy. We believe that when you are purpose-driven, the world should know about it. We can help you integrate this into your social media strategy by delivering campaigns that benefit both your company and the social and environmental causes you support.
Customers are more aware than ever before about environmental and social issues: to attract today’s consumers and to retain your existing customers, you need to make it clear what you’re doing to be more environmentally and socially conscious.
By showing your audience the positive impact of your business on your socials, you will enhance engagement with your brand; boosting customer acquisition and strengthening the sustainability of your business.
If you're interested in finding out more about integrating supporting a cause into your social media strategy and becoming purpose-driven, please give us a shout and we’ll be happy to go through the finer points with you.
Holly Moon, Content Manager