PARIS — Geopolitical tensions might be running high ahead of this weekend’s summit of the Group of Seven industrialized nations, but the fashion industry is eager to paint a different picture — one of corporate rivals banding together with pledges to do better for the environment, signing on to the “Fashion Pact.”
Eliminating single-use plastics, using renewable energy and promoting regenerative agriculture practices are among the commitments from signatories of the pact, which will be presented by Kering chairman and chief executive officer François-Henri Pinault at the upcoming summit hosted by France in its coastal city Biarritz.
Structured around the climate, biodiversity and the oceans, the initiative is spearheaded by Pinault, who was mandated for the job by French President Emmanuel Macron last April. Thirty-two companies have signed on so far, representing around 150 brands, and more are on the way, according to Kering and officials from the French president’s office and the country’s ministry of ecology.
Companies that have signed on so far range from fast-fashion retailers H&M and Zara-owner Inditex; sportswear labels Adidas and Nike; American-based companies Capri Holdings, Gap, PVH, Ralph Lauren and Tapestry; European luxury groups Chanel, Hermès International, Prada, Ferragamo, Giorgio Armani and Burberry, and Asia-based Fung Group. Stella
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