Extreme weather may cost the global fashion industry $65 billion by 2030

Bangladesh, Pakistan, Vietnam and Cambodia are seen to be particularly at risk, with a 22% drop in earnings from exports — and wider economic hit — projected by the end of the decade, according to the findings, which were released Wednesday. Fashion brands that source extensively in these countries should alter work hours and ensure workers get enough rest and hydration in response to the predicted disruption, according to researchers from Schroders and Cornell’s Global Labor Institute.

Using coastal and river flooding data, as well as temperature readings, the team from Cornell and Schroders said it had projected how different scenarios would affect manufacturing workers. The team said its cost estimates of $65 billion by 2030 were based on a “business as usual” scenario amid high heat and flooding, if no measures are taken.

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Asia apparel hubs face $65 bln export hit from extreme weather, study showsExtreme heat and flooding could erase $65 billion in apparel export earnings from four Asian countries by 2030, as workers struggle under high temperatures and factories close, research from Schroders and Cornell University showed on Wednesday.
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