Can the fashion industry really become more sustainable?
What: As the Competition and Markets Authority (CMA) is set to name and shame fashion’s greenwashing offenders, brands might be forced to either rethink their ‘sustainable’ vocabulary or make systemic changes in the fashion industry’s business models.
Why it is important: Greenwashing is a major issue that UK’s CMA is pushing to build more legislation around, and shame retailers that are guilty of misleading consumers publicly. There is an overall push to make sure that sustainability is not only about misleading marketing.
The word ‘sustainability’ has been so overused and broadly defined that it has completely lost its meaning. As consumers and regulators are starting to ask more questions about what sustainability really means, the word ‘transparency’ is now starting to be the next leading greenwashing word, with many more to come.
This trend is exactly what the CMA is trying to avoid. Last month, the government published its response to reforming competition and consumer policy, including the intention to give the CMA the power to enforce legislation directly. The CMA would be able to impose a penalty of up to 10% of global annual turnover on brands that breach such laws.