We start 2022 with international news for the sustainable fashion industry. The Fashion Sustainability and Social Accountability Act, also known as the Fashion Act, could make New York the first US state to pass legislation that would require global fashion brands to make their social and climate impacts public. This new regulation reaches the capital of fashion with the aim of holding the world’s tenth largest economy responsible for the environmental and social injustice of the textile sector. A law that, if it goes forward, would lead to a significant change in the sustainable fashion industry worldwide.
The Fashion Act could make New York the first US state to pass legislation that would require global fashion brands to make their social and climate impacts public.
The bill presented to the New York State Senate during 2021 was transferred to a legislative committee on January 5th. A legislative proposal that requires any apparel or footwear company operating in New York with at least an annual global revenue level of $100 million to take the following measures:
Brands are required to publish this information on their website, with the state attorney general being responsible for identifying companies that violate the law through an annual report. Failure to comply with these requirements would result in a fine of 2% of the brand’s annual income. The collection of the fines would go to a community benefit fund used to support environmental justice projects.
This bill is endorsed by nonprofit organizations focused on sustainable fashion, including the New Standard Institute, the Natural Resources Defense Council, and the New York City Environmental Justice Alliance, as well like designer Stella McCartney. A solid coalition that aspires to have the bill passed during the legislative session next June.
Legislation may take years, but if the Fashion Act passes, it will have an effect on the biggest names in fashion around the world. From the luxury groups LVMH and Kering to the giants of fast fashion such as Inditex, H&M or Shein. Due to this unusual fact, we have some questions that we’re eager to have the answers:
If the Fashion Act passes, it will have an effect on the biggest names in fashion around the world.
After the approval of the law, companies will have 12 months to comply with the directive and 18 months to make the information public on their website. At BCOME we can help textile companies to comply with the requirements established in the Fashion Act in order to be prepared for its approval. We work to encourage the fashion industry to build responsible supply chains, ensure transparency and bring it to the end customer.
The capital of fashion has spoken. Sustainability is no longer a trend, it’s a must-have. Let’s create change together!