Translated by
Nicola Mira
Revealed
October 30, 2024
The ecological transition is now not thought of an choice, as local weather change-related pure disasters are more and more frequent everywhere in the world. The style trade has been dedicated to this struggle for over a decade, however the problem stays enormous and progress appears to be slowing down, inside a worldwide context dominated by geopolitical tensions and a tricky financial juncture. The third version of the Venice Sustainable Trend Discussion board, whose theme was ‘Leading re-generation’, which happened on October 24-25 in Venice, was a possibility to take inventory of the state of affairs. It appears the time has come for the style trade, in Italy and Europe, to make essential decisions, balancing the progress achieved, the sources accessible, bureaucratic obstacles, and the targets to be achieved.
Trend trade gamers have gathered in Venice to evaluate the sector’s ecological transition – SMI
That the time for motion is now was the opinion of consulting firm The European Home – Ambrosetti (TEHA), one of many occasion’s organisers alongside Sistema Moda Italia (SMI), the producers’ affiliation representing Italy’s textile and attire sectors, and the native department of Italian industrialists’ affiliation Confindustria. TEHA has revealed a examine that includes forecasts as much as 2030, the deadline set by the European Union (EU) to cut back carbon emissions by 55% in comparison with 1990, with a view to reaching carbon neutrality by 2050. The examine additionally took under consideration the brand new and revised inexperienced laws bundle, referred to as ‘Fit for 55’, adopted by the EU in 2023.
Over the previous six years, the European vogue trade has lowered its carbon depth, an indicator measuring the ratio of an organization’s total CO2 emissions to its complete income, by 9.7% per yr. In line with TEHA’s calculations, at this fee the trade is not going to handle to succeed in the targets set by ‘Fit for 55’ by 2030, however by 2038. In different phrases, eight years too late. “The problem is that this delay will translate into a significant cost to the sector, given the socio-economic impact of climate change,” mentioned Carlo Cici, accomplice and head of sustainability at TEHA, and one of many examine’s authors, chatting with FashionNetwork.com.
“This impact is currently estimated at €50 billion per year for the fashion industry in Europe, which is therefore faced with two choices. Either it invests to catch up, making its companies more energy efficient, among other things, with an estimated additional cost of €24.7 billion by 2030, or it will have to reduce output to limit emissions, something that will cost the industry much more, in the region of €157 billion. We’ve outlined these two extreme scenarios. Most likely, [the fashion industry] will have to strike a balance between these extremes,” mentioned Cici.
Of the 100 vogue firms [in Europe] using greater than 250 folks and producing a income of over €45 million, 28 nonetheless don’t formally measure their environmental efficiency, the examine discovered. However, out of these 100 firms, 34 are decarbonising at twice the velocity set by the EU. Whereas some investments could seem comparatively reasonably priced for main luxurious teams, they’re unsustainable for SMEs, which in Italy, Europe’s main luxurious items producer, account for greater than 90% of the sector. The examine delved into the monetary statements of two,686 firms, and its conclusions have been unambiguous: “In order to support the additional investments needed to decarbonise, SMEs risk having to give up 5.8% of their margins, which on average range between 7% and 11%, notably around 7% for smaller companies,” mentioned the examine.
Nonetheless, it’s tough for companies to plan funding with out a clear image of upcoming laws. “In 2022, we committed to extending producer responsibility for products at the end of their useful life in our sectors, effectively laying the foundations for a new recycling industry. But 2025 is about to begin, and we are still waiting for the legislation to implement these measures. The industry was quick off the mark, it’s the bureaucracy that’s lagging behind,” mentioned Sergio Tamborini, president of SMI.
The varied decarbonisation eventualities for the EU’s vogue and textile trade by 2030 – Ambrosetti
Tamborini famous how “the urgency felt 10 years ago is waning. Nowadays, sustainability is a matter of regulations and protocols. But the ecological transition cannot just be a bureaucratic effort. In Europe, multiple regulations and certifications have been imposed on manufacturers to ensure they produce responsibly. At the same time, products made under conditions that are entirely at odds with the requirements imposed on European producers are entering our market. Let’s start by enforcing the laws we already have, without adding further complications to the [European] entrepreneurs’ job.”
“Perhaps too many regulations have been imposed. Too many, and too quickly. We want to reduce bureaucracy, which means less regulation on the one hand, but better regulation on the other,” mentioned Dirk Vantyghem, managing director of Euratex. “Initially, we had to focus on the ecological shift. Now, we need to understand how to put the legislative framework into practice while preserving the industry’s health. It’s like a complex jigsaw, each piece involving lengthy negotiations and processes, that needs to be assembled in the next few years. But once completed, this jigsaw will support the entire textile industry,” he added.
“We need to reconcile sustainability and industrial manufacturing. The important thing is to design [EU] regulations so as not to hinder manufacturing and competitiveness,” mentioned Barbara Cimmino, vice-president of Euratex, who underlined how the trade is presently uneasy, having put the brakes on funding whereas awaiting a legislative framework that’s “clear, defined and complete.” It’s apparent that firms should have a transparent outlook so as to have the ability to make investments, whereas customers, for his or her half, don’t appear to have modified their buying behaviour within the face of the local weather emergency.
“Contrary to what the media is telling us, [consumers] aren’t behaving more responsibly than in the past. This is what emerged from our survey of 26,000 consumers around the world. We are all concerned, but it’s clear that, with less money in our wallets, we won’t pay more for a product that can be bought cheaply,” mentioned Cici.
“Reversing this high consumption trajectory will be really complex. It’s true that the new generations have a different ethos and principles, but if we look more closely at their profiles, we notice a marked difference between an elite that is aware of the problems associated with global warming, and a much larger cohort of hard-core hyper-consumerists. We mustn’t put the blame on fast fashion, but steer it toward circularity,” mentioned Cimmino, who can also be the co-founder of lingerie chain Yamamay. In 2022, the European Fee revealed its technique for a sustainable textile trade, a part of a broader bundle of measures comprising 16 new legislative initiatives, between directives and laws. “Regulations are applied directly by the EU member states. However, directives need to undergo a much longer legislative process because each nation must create its own laws for them, often introducing significant changes. Hence the issue of harmonisation at European market level,” added Cimmino.
The 16 legislative initiatives promoted by the EU to make sure the textile trade is sustainable – Euratex
The prices and energy required of the style trade to adapt to the brand new guidelines are primarily incumbent on manufacturing firms, like weavers, uncooked materials producers, and producers. “A dangerous game, because these are often the less robust companies, and they have to shoulder responsibilities they aren’t always able to bear,” mentioned Tamborini.
“Nowadays, we’re being asked to make efforts that exceed our capabilities. We’re able to invest only if we have enough resources,” mentioned Bruno Conterno, CEO of footwear producer and distributor Good Footwear. “To bolster our growth, we opted for a stock market listing in 2021. After two years, we de-listed because the stock market was too unstable for our business model. We doubled our revenue and EBITDA, but our market value halved! Entrepreneurs must understand who the right financial partners for their project are. The problem is also that investors do not believe in SMEs and their capabilities,” he added.
It’s laborious to draw traders within the Italian textile sector, which is generally made up of tiny, mainly artisanal firms. The usually Italian notion of “small is beautiful” is now not viable within the trade. “Today, it has become a limit. We need to change our cultural model. Artisans think six months ahead at most, and with this outlook they struggle to plan the investments needed for their ecological transition. SMEs need to organise themselves into consortia so as to rely on sector leaders,” mentioned Conterno.
Beste, a Tuscan specialist in textiles and garment ending, did precisely this in 2023, when it joined Italian high-end manufacturing consortium Holding Moda. “It was a necessary, fundamental step. We often feel abandoned, politicians have little or no knowledge of the textile industry’s reality. And we have to fend for ourselves,” said the CEO of Prato-based Beste. “Joining [Holding Moda] has opened up greater opportunities for us, including with banks, where we are now received with deference. We have new resources and vision. For example, we are in the process of re-introducing Italy-sourced cotton, something that is of great interest to our luxury clients,” he added.
To speed up the trade’s ecological transition, the personal and public sectors should work extra intently collectively, and help to enterprise should diversify. This was the opinion of Annalisa Areni, head of shopper technique at Italian financial institution Unicredit: “The role of banks has changed significantly. It’s no longer just a question of financing business, we need to shepherd companies towards growth, make them understand which path to take and which elements to improve. Ensuring they have alternative financing is crucial, for example industry-specific mini-bonds. But a bank alone cannot help every SME. It needs to work in partnership with the public sector, for example via tax exemptions,” she added, underlining that, proper now, “there’s a reluctance to invest, as at any time of uncertainty.”
One other stumbling block is how viable the newly rising enterprise mannequin is, and whether or not it could safeguard jobs. These numerous constraints have been all taken under consideration within the 5 proposals put ahead by TEHA to hurry up the transition. In its report, TEHA advocated for a swift definition of the legislative framework, for simplifying the monetary instruments accessible to SMEs, for encouraging aggregation inside the market to extend competitiveness, and for drawing up nationwide industrial plans for the style trade, “because that is the scale at which we can really act.” Added to that is the necessity to increase expertise, in addition to the trade’s R&D efforts.
“We have every opportunity to confront this green revolution. We still need to be aware, at the very least, of the costs of taking action as opposed to those of not acting. Over the next ten years, the investment needed to combat climate change will be substantial. But the longer we wait, the more we will pay. It’s non-negotiable,” concluded Cici.
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