The excellent news is the climate is top of mind for everyone. The bad news is we aren’t moving fast enough. Each industry is attempting to be the leader in its particular vertical. The fashion industry is one of the worst offenders. Combined, they are responsible for 8-10% of global carbon emissions alone. Fashion touches all of us. Nobody walks around naked.
How do we become a circular economy in the fashion industry? The answer might be that every home has a clothing compost for clothing. We figure out how to break those materials down to the original molecules and remake new fabrics.
We are finally starting to see Evrnu and others evolve their business into brands. That is what Evernu does, and in full transparency, I am an investor. I made that investment in 2015.
Some are taking plastic bottles and creating t-shirts. Mushrooms are being used to make materials. Many are only using recycled fabrics or used fabrics. Others are using different plants indigenous to the area that can now be made into materials.
A few small companies around the globe are working on being thoughtful about their products, where every part of the process is environmentally positive—significant achievement.
There are a few shining stars, and there should be more. There is not a lot of venture money in this industry. It is tough to start a brand, and it would be a win to see more capital come into the back ends of these businesses where the impact on the environment would massively shift.
Funds are now focusing only on the environment, but are they touching fashion?