New research from the Organisation for Economic Cooperation and Development (OECD) calculates that the issue of textile waste costs the industry around £414 mn per annum, due to clothing underutilisation which is subsequently discarded. The OECD’s research is a call to arms for all industry stakeholders to transform their business practices in order to reduce apparel overconsumption, mitigate the associated CO2 emissions, and achieve resource savings. It’s noted that the £414 mn worth of unused apparel translates to more than 1.7 bn tonne of CO2, a sum which will likely increase year-on-year if a linear approach to apparel production and consumption continues.
The OECD highlights in its new research that despite the boon to revenues the largest apparel brands have registered over recent years, textile waste in the form of unwanted clothing accumulates each year to the value of £414 mn. This, it believes, will reach gargantuan figures in the future unless greater focus is placed on combatting overconsumption. The organisation projects world gross domestic product (GDP) to increase by 400 per cent by 2050, with the fashion industry currently holding a share of two per cent.
With fast fashion on an upward trajectory and ever-growing volumes of apparel quenching consumers’ insatiable appetite, it’s expected that the fashion industry’s GDP will amount to £7 tr by the aforementioned date. This growth brings with it vast increases to materials used, the subsequent CO2 emissions and greater quantities of stock ending up in landfill. The number of garments expected to be in circulation by 2050 equates to 2.48 tr.
The researchers cite the UN Alliance for Sustainable Fashion as it calls for coordinated action to offset the impending damage. It’s said that such reform could boost the global economy by a further £148.8 bn by 2030 – equivalent to 11 per cent of the current retail value of apparel. The most significant beneficiaries of this work would be areas including CO2 emissions, water consumption and health and safety.
