What: After years of fits and starts, some brands and materials start-ups are taking partnerships to the next level.

Why it is important:  it highlights the urgent need for systemic change, bold leadership, and government regulation in addressing the climate crisis, emphasizing that market-driven green business initiatives alone are insufficient for meaningful progress.

Throughout Climate Week, there was an air of optimism, but many advocates worry that this hope is misplaced. Maxine Bédat, director of the New Standard Institute, describes this as "hopeism"—a belief that positive steps, while well-meaning, are enough to address the climate crisis. However, there remains a reluctance to make the radical changes necessary to combat climate change, and this mindset affects not only fashion companies but also multi-stakeholder initiatives and the investor community. Research from the Cambridge Institute for Sustainability Leadership suggests that green businesses can’t succeed in isolation and that ambitious government action is critical for driving systemic change.

The fashion industry is uniquely positioned to model a new form of sustainable capitalism, yet it is still battling deep systemic barriers. Advocates argue that bold leadership and regulatory reforms are essential to create ethical business practices that don’t prioritize shareholder profits at the expense of the environment. Industry insiders, such as sustainability expert Rachel Arthur and former Ganni CEO Nicolaj Reffstrup, emphasize that without significant political intervention and regulatory frameworks, efforts to transform the industry and achieve sustainability goals will be inadequate. The push for a shift in both industry leadership and global policy is seen as the only way forward for meaningful progress.

The ‘green business’ paradox, and fashion’s potential to fix it