The news was revealed at the U.N. climate summit, or COP26 in Glasgow, Scotland, during the U.N. Climate Change Global Climate Action “Fashion Industry Race to Zero” session Monday.Instead of a 30 percent absolute reduction of greenhouse gas emissions by 2030, the Charter calls for companies to halve their emissions — a feat that has been adopted by many companies over the past year. As with thethe Charter set science-based carbon emissions reduction targets in line with a 1.
The steering committee also counts executives from Nike, Kering, Textile Exchange, Sustainable Apparel Coalition, H&M Group, Adidas and the International Finance Corp., among others, as members.
The Charter’s updates also aim to halt fossil fuels in their tracks, outlining how signatories must support “no new coal power by January 2023 at the latest,” while leveraging incentive mechanisms so suppliers, too, can support the broader coal phase-out by 2030.