HOT OFF THE PRESS: Climate & The 1 Trillion Dollar Question

Now that climate action has rapidly moved to the top of the apparel industry's agenda, it is crucial that the industry moves from intention to action - and fast. The latest analysis indicates what we need to do, but the 1 trillion dollar question is how much capital will be required to do it. Enter the Apparel Impact Institute (AII) and Fashion for Good (FFG), who have now weighed in regarding how much financial outlay is needed. You've probably already guessed it: they arrived at 1 trillion US Dollars needed over the next 30 years. During this interview, Michael speaks with Ryan Gaines, Finance Director at AII, and Rogier van Mazijk, Investment Director at FFG who co-authored this new report, "Unlocking the Trillion Dollar Opportunity". We quickly get into the weeds and discuss what needs investment, how much, and who needs to do it. We talk about the roadblocks, and we even hear how finance people view legislation and industry growth. So if you are committed to helping the apparel and textiles industry meet its climate targets, and want to know if and how we are going to get there, then this podcast for you.

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Fashion and apparel. It touches nearly everyone. When its at its best, fashion and apparel is not only functional, but also fun, expressive, sexy, and for some businesses, very profitable. But when it is at its worst, fashion and apparel is superficial, exploitative, polluting and extremely wasteful - in other words the essence of unsustainable consumption. And while it is argued that the industry's rapid growth has created employment opportunities for more than 300 million people worldwide, especially for women in poorer countries and those in extreme poverty, many garment workers still struggle to earn enough to pay to meet even their most basic needs. More alarming is the fact that as the industry grows - by 2030 more than 8 billion people will live on the planet, and nearly 5 billion of these will be part of the global middle class - its negative environmental impacts may become unmanageable, potentially undermining its social benefits and contributing to ecosystem degradation on local, regional and global scales. Who would have thought garments could be so destructive? The fashion industry must change now, but will we manage in time? Join Mike Schragger, founder of the Sustainable Fashion Academy, as he explores the challenges, incentives and disincentives and emerging solutions needed to rapidly transform the industry. Listen in as he talks with the business leaders, activists, researchers, innovators and entrepreneurs, investors, legislators, consumers and citizens - who are racing against the clock to find solutions that will transform the industry, thus ensuring it truly operates for the benefit of people and the planet. www.sustainablefashionacademy.org/podcasts/big-closets-small-planet