Camera Nazionale della Moda Italiana, an Italian fashion organization, has teamed up with the United Nations Ethical Fashion Initiative to create a joint environmental and social governance due diligence framework and corporate sustainability reporting framework.
Stakeholders will be able to access a sustainable framework that promotes sustainability in the supply chain by serious due diligence aimed towards identifying, eliminating, and mitigating corporate governance risks.
Simone Cipriani is the founder and head of the Ethical Fashion initiative. She stated in a statement that “an ESG Due Diligence approach and Corporate Sustainability reporting approach allow the fashion industry talk sustainability consistent and transparently. It allows investors and consumers to make informed choices.”
This framework will also be the foundation for the CNMI Sustainability Fashion Awards. Brands will now be recognized not only for their designs, but also for their performance in terms of environmental, social, and governance criteria.
Carlo Capasa (president of CNMI) said: “Having a large communication event about sustainability is not enough. We also need to work hard on the difficult part of sustainability: The scientific foundation that lies beneath such a glamorous event.”
This announcement was made as part of Milan Climate and Fashion Talks, which featured talks on fashion sustainability and how fashion could help reduce the impact of climate change. These talks will be used to make recommendations for the Italian Government regarding COP26.