Monetization of Circular Economy benefits in the fashion and clothing industry
The Swedish fashion industry recognizes the need to pursue a circular economy in order to respond to the societal pressure for sustainability and to secure the future of their business. The main objective of this project is to explore the business case for a bio-based circular economy within the clothing and textile industry. The industry can be motivated to make the transition towards circular economy by monetizing the potential direct and indirect gains that companies can obtain from such a transition. Collaborating with the Stern Business School, we employ the Center for Business in Society methodology in combination with the Sustainability Accounting Standards Board (SASB) framework. Building on this framework we identify the obstacles and opportunities with a transition to circularity in the fashion industry, and analyze the potential value creation in the textile value chain from this.
Funded by: Formas
Project leader Associate Professor Susanne Sweet – with researchers Ranjula Bali Swain, Clara My Lernborg and Ingrid Stigzelius