Fashion might have to get more sustainable in New York. Known as the Fashion Sustainability and Social Accountability Act, New York is working to get a fashion sustainability law passed, and the legislation would apply to apparel and footwear companies with more than $100 million in annual worldwide revenues that do business in New York (think Nike, Armani, LVMH, etc.). If passed, the law would require these companies to reduce greenhouse gas emissions and energy consumption across their supply chains, disclose how much and what type of materials their suppliers produce annually, reveal the volume of recycled materials used, and report the wages paid by their suppliers and how it compares to local minimum wages and living wages. Companies would be required to comply within one year, with disclosures published on their websites, and failure to report these factors would result in a fine of up to 2% of revenues of $450 million or more (fines would go into a community benefit fund used to support environmental justice projects). The legislation signals how New York state is addressing the fashion industry’s involvement with climate change—something Gen Z and Millennials are very concerned with. Young consumers say the government is most responsible for taking action against the climate crisis according to YPulse’s sustainability research, with corporations not far behind. (Bloomberg, NYT)
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