Only several years remain to stave off catastrophic climate tipping points, according to Global Fashion Agenda (GFA). In a new report, “Fashion CEO Agenda,” the high-profile nonprofit urges executives to take specific short- and long-term steps to align their businesses with the Paris Agreement.

“The cost of not acting on sustainability is greater than the investment needed to address it,” Federica Marchionni, CEO of Copenhagen-based GFA, stated in the report. “Indeed, inaction exposes companies to serious financial losses and reputational harm.”

Released Sept. 25, the report nonetheless found “glimmers of hope,” including the rise of circular business models such as resale, efforts to recirculate textile waste and improvements in workplace equity.

“Fashion must not treat sustainability as a siloed function,” said Marchionni, who previously served as CEO of Lands End and president of Dolce and Gabbana. “It must be placed at the core of how we define success and create value — for society, the environment and the economy. With smart innovation, investment, incentives and regulation, it is possible for profit and conscientious purpose to coexist.”

GFA membership includes scores of brands, with strategic partners such as H&M, Bestseller, Kering, Nike, Ralph Lauren and Target. LVMH Moët Hennessy Louis Vuitton joined on Sept. 22. Other partners include Puma, Lenzing and Zalando. Nonprofits involved include the Apparel Impact Institute, Textile Exchange and the Ellen MacArthur Foundation.

5 foundational priorities

Two years ago, Global Fashion Agenda set the following priorities for sustainability:

Respectful and secure work environments: Supply chain transparency is a responsibility of brands, and along with that comes the support of worker freedoms and protections. Companies should also help to retrain employees as automation changes their work.

Better wage systems: A living wage, collective bargaining support and closing gender pay gaps are among the efforts that brands should plan and share.

Resource stewardship: Companies must set science-based targets to slash climate emissions across all scopes. This includes removing fossil fuels from supply chains as well as preventing freshwater pollution from microfibers and manufacturing chemicals.

Smart material choices: Every fiber in fashion should derive from preferable sources by 2030. These include recycled, regenerative or deforestation-free sources. Investing in next-generation materials now is key.

Circular systems: The industry must design out waste and foster circular materials and business models.

5 ‘priority accelerators’

In addition to the above, the recent report outlined five characteristics that cut across the above priorities to make meaningful, short-term change:

Innovation: Companies should support resale, repair and other circular business models and fund technology R&D. This includes providing help for textile-to-textil