BOSTON - Tackling harmful water impacts in the apparel industry could cost companies as much as US$1.8 billion a year and reduce their profits by up to 47 per cent, according to a new report.
The Ceres sustainability non-profit examined the cost of addressing water impacts in the apparel - and also packaged meat - industries. It found that increasing water stress and droughts, exacerbated by the climate crisis, were creating significant risks.
The report used methodology developed by asset manager DWS to estimate the financial fallout for eight apparel industry leaders - Burberry, H&M, Hanesbrands, Inditex, PVH Corporation, Ralph Lauren, Gap and VF Corp.
