The Material Change Insights Report provides one of the most data-backed and comprehensive analyses of how the industry is progressing in its shift to preferred materials, as well as alignment with global efforts like the Sustainable Development Goals (SDGs) and the transition to a circular economy.
LUBBOCK, Texas (PRWEB) May 27, 2020
Textile Exchange announces the launch of its 2019 Material Change Insights Report, which surfaces valuable insights about the state of fiber and materials sourcing in the textiles sector in the context of the COVID-19 pandemic.
The report draws on exclusive data provided through Textile Exchange’s Corporate Fiber & Materials Benchmark (CFMB) program, the largest peer-to-peer comparison initiative in the textiles sector with more than 170 voluntary brand participants. The CFMB program fills a necessary industry gap by rigorously analyzing self-reported company data to track the materials sourcing progress of individual companies as well as the industry at large.
The resulting Material Change Insights Report provides one of the most data-backed and comprehensive analyses of how the industry is progressing in its shift to preferred materials, as well as alignment with global efforts like the Sustainable Development Goals (SDGs) and the transition to a circular economy. It builds on Textile Exchange’s Material Change Index (MCI) — a family of indices, published earlier in the year, that tracks individual company progress.
“Amidst tragedy and chaos, the COVID-19 pandemic has demonstrated the deep interconnectedness that exists between people and planetary systems. It shows the turmoil that can result when one element of the system is out of balance — a situation that is certain to repeat itself many times over if we ignore long-term risks like climate change,” said Liesl Truscott, Textile Exchange European and Materials Strategy Director, who leads the program. “It’s time to rethink the textiles industry to make it fit for the future. But first we need to know where we stand, and this is where the Material Change Insights Report comes in.”
The 2019 report was authored by Textile Exchange’s Fiber and Materials team, with circularity content developed with global consultancy Corporate Citizenship and support from media partner GreenBiz. A series of webinars will be held in June to dive deeper into the report’s findings; those interested can visit our upcoming events page for the latest information. The Material Change Insights Report, MCI and other CFMB program components ladder up to Textile Exchange’s overall 2030 Strategy: Climate+. By benchmarking the industry and providing actionable tools for improvement, Textile Exchange is pushing a race to the top as a driving force for urgent climate action.
Key 2019 Report Insights
The 2019 Material Change Insights Report is based on companies’ self-reported data from 2018. Key findings include:
- Reporting companies sourced nearly 40% of their materials from preferred sources in 2018.
- Reporting companies collectively converted 1.7 million metric tons of materials to preferred in 2018, resulting in a saving of 1 million metric tons greenhouse gases.
- Sweden is leading the race to the top, with 12 Swedish headquartered companies accounting for 40% of the preferred materials reported.
- 66% of companies said they have started aligning their business strategy with the SDGs. However, 71% have not set measurable targets within their Goal alignment.
- 86% of companies responding to the circularity module have a circularity strategy — but coverage and investment are still very limited. For example, only ~0.06% of reported recycled materials come from post-consumer textile waste.
2020 Survey Launching in June
Textile Exchange invites brands, retailers and — for the first time — manufacturers to participate in the 2020 CFMB survey, which is set to kick off in June. The CFMB enables participating companies to measure, manage and integrate a preferred fiber and materials strategy into their business. Participants report that just the act of completing the survey provides a valuable roadmap for improvement.
Interested companies can register at https://textileexchange.org/2020_cfmb_registration_form to receive more information, including a detailed briefing and the schedule of how-to webinars.
About Textile Exchange
Textile Exchange is a global nonprofit that creates leaders in the sustainable fiber and materials industry. The organization develops, manages, and promotes a suite of leading industry standards as well as collects and publishes vital industry data and insights that enable brands and retailers to measure, manage, and track their use of preferred fiber and materials.
With more than 400 members who represent leading brands, retailers and suppliers, Textile Exchange has, for years, been positively impacting climate through accelerating the use of preferred fibers across the global textile industry and is now making it an imperative goal through its 2030 Strategy: Climate+. Under the Climate+ strategic direction, Textile Exchange will be the driving force for urgent climate action with a goal of 35-45% reduced CO2 emissions from textile fiber and material production by 2030.
To learn more about Textile Exchange, visit TextileExchange.org. Follow us on Twitter at @TextileExchange.
About Corporate Citizenship
Corporate Citizenship (CC) is management consulting company that helps companies deliver long-term value, responsibly and sustainably. For the past 20 years, CC has been a trusted partner to more than 300 clients in 45 countries – offering strategic advice and flexible, on-going support. CC believes that business can be a catalyst of radical change - by pioneering responsible businesses, transforming the systems on which it relies, and maximizing value to society. Acting as critical friends, we aim to translate ambition into practical action. With offices around the world and textile/fashion specialty in North America; learn more at corporate-citizenship.com.