Sustainable Development Goals (SDGs) and their importance in textiles
Sustainability has become a hot topic in recent years, and for good reason. Climate change, pollution, and overconsumption are just some of the many environmental challenges we face today. Businesses, in particular, have a crucial role to play in addressing these issues. One way to do this is by using the Sustainable Development Goals (SDGs) as a framework for building strong and investible businesses that can stand the test of time and act as enablers for a sustainable future.
The SDGs were developed by the United Nations in 2015 as a universal call to action to end poverty, protect the planet, and ensure that all people enjoy peace and prosperity by 2030. There are 17 goals in total, covering a wide range of topics such as poverty, hunger, health, education, clean water, and sustainable cities. By using the SDGs as a framework, businesses can ensure that their operations and strategies align with these goals and contribute to a more sustainable future.
The circular economy is one of the most important concepts that businesses can adopt to achieve the SDGs. The circular economy is an alternative to the traditional linear economy, in which resources are extracted, used, and then discarded. In a circular economy, resources are kept in use for as long as possible, extracting the maximum value from them before recovering and regenerating them. This approach can help to reduce waste, pollution, and the use of finite resources, making it a key strategy for achieving the SDGs.
The fashion, apparel, and textile industries are particularly well-suited to implementing the circular economy. According to the Ellen MacArthur Foundation, the fashion industry alone generates 92 million tons of waste each year, and is responsible for 8% of global greenhouse gas emissions. By adopting a circular economy approach, these industries can reduce waste and emissions, while also creating new business opportunities.
One way that businesses in these industries can implement the circular economy is by designing products that can be easily repaired, reused, or recycled. Another way is by using sustainable materials, such as recycled materials. Implementing closed-loop production systems can help to eliminate waste and improve resource efficiency. Additionally, having a solid end of life solution in place that enables proper stewardship of materials after they are finished being used in their highest and best form, can have a massive impact on the total life impact of a product.
Another benefit of using the SDGs as a framework is that it allows businesses to better understand and address the social and environmental challenges they face. By aligning their operations and strategies with the SDGs, businesses can ensure that they are contributing to a more sustainable future and addressing issues such as poverty, hunger, and inequality.
Using the SDGs as a framework for building strong and investible businesses is a smart way for companies to ensure that their operations and strategies align with global sustainability goals. The circular economy, in particular, is a key concept that the fashion, apparel, and textile industries can adopt to reduce waste, pollution, and the use of finite resources. Additionally, by addressing the social and environmental challenges, it allows businesses to understand and address the issues that matter most to their stakeholders, communities, and the planet.