LONDON – Brands are being urged to commit to more sustainable raw materials in a new report which predicts a shortage of ‘preferred fibres’ which could potentially cost them 6% of their profits by the end of the decade.
The report, from the Boston Consulting Group (BCG) in collaboration with Textile Exchange and Quantis, says a lack of commitments by brands is leaving producers, farmers and growers unwilling to take on the risks of increasing the supply of ‘preferred’ raw materials.
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