Sustainable Dyeing Machines Maker Alchemie Supports Fashion Act
Alchemie which has developed sustainable digital dyeing and finishing technologies said it stands behind the New York Fashion Act, which paves the way for a sustainable future in fashion.
The Fashion Sustainability and Social Accountability Act (Fashion Act) would create, for the first time, a legally binding environmental and labour standard for the industry.
Apparel and footwear retailers with global revenue of at least US $100 million would be required to map their supply chains from raw materials to production.
After disclosing their supply chains, companies would then be required to address their impacts.
The Mandatory Due Diligence Framework would require companies to identify, prevent, mitigate, account for, and remediate adverse impacts to human rights and the environment in their operations.
If a company fails to meet their targets, they face a fine of up to 2 percent of their annual revenues
“Alchemie, known for its commitment to sustainable innovation, stands firmly behind the NY Fashion Act for various compelling reasons,” the UK based company said in a press release:
Alchemie said it believes in aligning the industry on common objectives to drive sustainable practices and the act offers a framework that compels fashion entities to prioritise sustainability.
Alchemie also supported the transparency and accountability in the act, which necessitates public disclosure of sustainability data.
According to the company, ambitious goals outlined by the act, such as substantial reductions in water usage, greenhouse gas emissions, and waste generation, serve as catalysts for innovation.
The creation of a $50 million annual fund for research and development in sustainable fashion through the act, resonates deeply with Alchemie’s core values.
“This investment signifies a crucial step towards accelerating innovation and fostering groundbreaking solutions within the industry,” the company added.
The apparel and footwear production value chain is responsible for an estimated 4-8.6 percent of global greenhouse gas emissions.
In addition to contributing to climate pollution, the $2.5 trillion industry contaminates water, uses toxic chemicals, contributes to deforestation and creates staggering amounts of waste.
