Li & Fung is joining the fight against deforestation.
The Hong Kong-based company — which operates an extensive supply chain network across 50 production countries, numbering 230 offices staged in key markets — is partnering with environmental nonprofit Canopy to protect the world’s ancient and endangered forests (those high in carbon and biodiversity).
In this partnership, Li & Fung will join the CanopyStyle fashion initiative (greening its rayon and viscose supply chain) and Pack4Good (reducing the impacts of paper packaging in its shipping and operations).
Through a range of biodiversity targets, Canopy is helping companies transform their sourcing practices. More than 320 brands, retailers and designers — representing more than $587 billion in annual revenue — have signed on to the CanopyStyle fashion commitment including Amazon, Target, Uniqlo and Burberry. Just last month, LVMH and other industry titans signed onto the Pack4Good initiative.
Given Li & Fung’s global reputation in designing, sourcing and delivering a wide range of apparel goods, the partnership could mean a massive uplift in supply chain sustainability.
By broadening responsible material sourcing and product manufacturing practices, the partnership will help to “advance ambitious and tangible solutions for our climate and forests in the apparel and packaging supply chains,” said Deepika Rana, chief operating officer of Li & Fung.
Rana said the company envisions collective efforts like these enabling fashion to meet the demands of a dynamic global retail sector.
Calling Li & Fung a “pivotal” partner, Canopy’s executive director Nicole Rycroft said the commitment “reverberates through supply chains in all corners of the world. We are delighted to embark on the next stage of our work together in shaping the supply chains of the future.”
Source: Read Full Article