The Italian fashion organisation, Camera Nazionale della Moda Italiana (CNMI) is teaming up with the United Nations Ethical Fashion Initiative (EFI) to launch a joint environmental, social, and corporate governance due diligence and corporate sustainability reporting framework for the fashion industry.
The sustainable framework will enable stakeholders to access a system that introduces sustainability throughout the supply chain through serious processes of due diligence aimed at spotting, eliminating, mitigating environmental, social, and corporate governance risks, explained the CNMI and EFI in a statement.
Simone Cipriani, head and founder of the Ethical Fashion Initiative, said in a statement: “An ESG Due Diligence and Corporate Sustainability reporting approach allows the fashion industry to talk sustainability consistently and transparently. It also enables investors and consumers to make informed decisions.”
The framework will also form the basis for the CNMI Sustainable Fashion Awards, and for the first time, brands will be recognised not only for their designs but according to their performance environmental, social and governance criteria.
Carlo Capasa, president of CNMI, added: “Having a big communication event on sustainability is not enough: we also need to work on the hard part of sustainability: the scientific foundation that lies under such a glamorous event.”
The announcement was part of the Milan Climate and Fashion Talks event featuring talks about fashion sustainability and how the fashion industry could help limit the effects of climate change that will serve as recommendations to the Italian Government in view of COP26.