STICA annual report on the Scandinavian fashion industry: Progress for climate leaders in fashion too slow

The STICA annual report on the Scandinavian fashion industry’s climate progress reveals that the pursuit of profit prevails. Despite leading the fashion industry’s climate transition, the actions of STICA’s 54 member companies are not enough. With only five years remaining until 2030, politicians must act swiftly to meet the goals of the Paris Agreement. To drive progress, both financial penalties and rewards are needed.

STICA progress report 2024 Photographer/Source: STICA

Today, 28 november 2024, the Scandinavian Textile Initiative for Climate Action (STICA) released its 2024 Progress Report, providing an update on the climate progress made by companies participating in STICA’s Company Climate Action Program. Members include e.g. H&M, Kappahl, Lindex, Acne, Peak Performance, Helly Hansen, TOTEME, Blåkläder, Casall, Craft, Norrøna, Volvo Merchandise, and Nudie Jeans.

Michael Schragger, Director of the Sustainable Fashion Academy (SFA) stated:

“STICA member companies continue to show climate leadership. However, even the most committed companies encounter significant obstacles. The most fundamental issue is the lack of sufficient financial incentives for climate action. Legislators need to establish adequate financial rewards and penalties to motivate companies to accelerate decarbonization across the apparel value chain.”

The report presents individual company disclosures and aggregate data on the progress of member companies’ Climate Action Transition Plans, based on emissions data from their most recent financial year. It also provides an analysis and general conclusions drawn by the Sustainable Fashion Academy (SFA), an independent non-profit organization that leads the STICA initiative.

Read the full report here: http://www.sustainablefashionacademy.org/STICA/ProgressReport2024/