“The conversations we have with companies suggest that some consumers consider sustainability when they buy apparel but most are still primarily driven by price,” she said.
“Investors [shareholders in listed companies] are playing a much more significant role in driving change.”
She continued: “As a large investor, we can ask listed companies to do a lot more; to audit theirsupply chains, to provide full transparency over where materials are coming from, who is making them and whether those workers are being paid a living wage.”
The popularity of eco-friendly and supply chain aware fashion is popular among Millennial celebrities like Emma Watson, who publicly documents the sustainability qualifications of her red carpet garments.
She’s joined by the 75 per cent of Millennials who would pay more for sustainable goods, according to a Nielson poll. That’s up from 50 per cent in 2014.
Further, Millennials are twice as likely to buy from sustainable brands than older generations, AMP Capital added, noting: “Millennials are quickly becoming the most important consumer segment of our time.”
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