Explaining the need for the report, Ley said: “In trying to reach out to the various investment communities, we realised there was very little awareness and that’s why money is not flowing, we realised there was a major roadblock in financing.
“I don’t think we had an exact number in mind (in advance) but we realised we needed to dive into that because only with some facts and figures can you really move forward and mobilise more.”
Martinez-Pardo said they took a “bottom up” approach to estimate the financing needs of the different technologies and solutions that would be required across the entire value chain and came up with a figure of US$20-30 billion a year for a decade.
She explained: “The fashion industry is really under-invested in terms of R&D spending that goes to innovation overall and especially to sustainable innovation.”
The podcast serves as a reminder that those who are serious about transforming the industry need to be honest about what it will take, and the urgent need to act to implement those solutions.
The topic will be a familiar one for regular listeners as both the Sustainable Fashion Academy and Fashion for Good have been calling on stakeholders to analyse the level of financial investment needed.
To hear more about Ley and Martinez-Pardo’s report, listen to the full podcast by CLICKING HERE.
