With new carbon reduction objectives under the Fashion Industry Charter for Climate Action, the fashion industry is raising its collective ambition. The revised promises, which were announced recently at the COP26 meeting in Glasgow, comprise a decarbonization strategy that is in line with the Paris Agreement's goal of limiting global temperature rise to 1.5 degrees Celsius over pre-industrial levels.

The call for firms to set science-based objectives to halve their emissions by 2030 is at the heart of this, with a pledge to attain net-zero emissions by 2050. According to a press statement from the United Nations, this is an update on the prior aim of 30% aggregate greenhouse gas emission reductions by 2030.

Following the recent Intergovernmental Panel on Climate Change (IPCC) report, which referred to a "code red for mankind," it comes at a critical time for climate action.

Stefan Seidel of PUMA, who co-chairs the Fashion Industry Charter steering committee, said that this is a significant milestone for the Fashion Charter since it raises the ambition level in the industry's efforts to align with 1.5 degrees. It's a signal that they need to collaborate closely with their peers, supply chain, policymakers, and customers to get to net-zero.

The revamped charter also includes promises such as procuring 100% of electricity from renewable sources by 2030, purchasing environmentally friendly raw materials, and phasing out coal from the supply chain by 2030, among others.

The signatories to the Fashion Charter represent a substantial percentage of the fashion industry. The Fashion Charter has been signed by 130 companies and 41 supporting organizations, including well-known brands like Burberry, H&M Group, VF Corporation, Adidas, Kering, Chanel, Nike, and PUMA, as well as suppliers like Crystal Group, TAL Apparel, and others.

The updated charter also calls for the creation of incentive mechanisms for suppliers to participate in the decarbonization process, as well as steps to engage other stakeholders, such as policymakers, financial institutions, and communicators.

The charter lays out a strategy for developing and implementing a collective decarbonization strategy, as well as the tools needed to meet the charter's greenhouse gas emission reduction targets.

The Fashion Industry Charter for Climate Action's purpose is to get the fashion industry to zero greenhouse gas emissions by 2050, in order to meet the goal of limiting global warming below 1.5 degrees Celsius.

Since the charter's launch in 2018, 130 businesses and 41 supporting organizations have pledged to take climate action. The Charter establishes a framework for stakeholder dialogue and engagement on climate action.