The global apparel industry could lose £52 billion ($65 billion) in export earning due to climate change, according to a new report from Cornell University and Schroder’s.
The researchers found that Bangladesh, Vietnam, Cambodia and Pakistan could see their export earnings drop by 22% by 2030, as climate change makes it difficult for fashion and textile factories to operate.
Cornell University’s Jason Judd said: “Flooding and extreme heat pose significant risk to every constituency in global apparel production – workers, manufacturers, regulators, investor and brands themselves.”
“Life, let alone work, will become very difficult in these and many other hotspots that apparel brands and retailers depend on for production,” he continued.
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As reported by edie, the researchers analysed the climate-related vulnerability of infrastructure in the four nations.
They looked at evidence to date of the impact of extreme weather events made more likely and intense by global heating, including flooding and heat waves, as well as projecting out the likely frequency and intensity of these events in 2030.
The findings serve as a clear warning that fashion supply chains are not being adequately prepared for physical climate risks.
“No one is factoring the on-the-ground costs of climate breakdown into their planning,” Judd warned.
“The apparel industry and regulators have mostly framed their climate responses around mitigation issues—emissions, water usage, and recycled fabrics.”