The Future Supplier Initiative seeks to finance thorough decarbonisation in the garment industry and is backed by DBS Bank, Guidehouse, garment Impact Institute, and The Fashion Pact. With support from Bestseller, Gap, H&M Group, and Mango, the initiative began in Bangladesh and aims to spread to other important manufacturing hubs such as Vietnam, India, China, Italy, and so on. In its first year, the programme will give priority to factories that have a significant impact, develop technical recommendations for decarbonisation, and finance suppliers to carry out project execution.
H&M Group created the Future Supplier Initiative with the goal of assisting companies and their supply chains in meeting their science-based commitments by 2030. As the supply chain accounts for 99% of emissions from fashion brands, the programme aims to hasten the shift to net zero by assisting textile and apparel companies in switching to renewable energy sources.
Factories in the fashion industry will be assisted in overcoming obstacles to electrification and renewable energy adoption through a combination of financial incentives and technical support. By helping garment suppliers decarbonise their operations, the Fashion Pact’s Future Supplier Initiative seeks to close the gap between ambition and reality.
