China’s Shandong Ruyi Group said it has signed the newly created Fashion Pact with more than thirty other global fashion and textile firms, as the group formed to promote sustainable socio-economic development, and foster a better relationship between the fashion industry an the environment.
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In Paris, France, ahead of the 45th G7 summit last week, 32 companies signed the Fashion Pact, a first-of-its kind agreement designed to uphold environmental protection across three main areas: Climate, Biodiversity, and Oceans.
Among the participants, international signatories include Adidas, Prada, Hermes, and Puma, as well Zara owner Inditex and Calvin Klein parent company, PVH Corp.
Shandong Ruyi Group, China’s largest textile firm, was the only company to hail from mainland China, it said.
“As a representative company in China’s fashion textile industry, Shandong Ruyi Group has long attached great importance to sustainable development and is always integrating technological innovation with environmental protection,” said Shandong Ruyi Group, whose portfolio includes SMCP’s Sandro and Maje brands, as well as Bally.
“By combining the brand enterprises, logistic platform, and finance capital, Shandong Ruyi Group has created a supply chain eco-circle of textile & apparel that are multi-field, platform shared, and symbiotic,” continued Shandong Ruyi.
“It is because of Shandong Ruyi Group’s emphasis and investment in environmental protection, makes Shandong Ruyi Group become the only Chinese mainland company invited to the alliance,” added Shandong Ruyi.
The Fashion Pact focuses on three primary areas of earth protection. The first, to stop global warming by creating an action plan for zero greenhouse gas emissions by 2050, in order to keep global warming below a 1.5°C pathway between now and 2100.
Secondly, the pact plans to restore biodiversity, by restoring natural ecosystems and protect species.
The third goal is ocean protection, achieved by removing the fashion industry’s usage of single-use plastics.
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The other Fashion Pact companies are Bestseller, Burberry, Capri Holdings, Carrefour, Chanel, Ermegenildo Zegna, Everybody & Everyone, Fashion3, Fung Group, Galeries Lafayette, Gap Inc., Giorgio Armani, H&M Group, Karl Lagerfeld, Kering, La Redoute, Matchesfashion.com, Moncler, Nike, Nordstrom, Puma, Ralph Lauren, Salvatore Ferragamo, Tapestry, Selfridges Group, and Stella McCartney.