Capability Development
Fashioning a sustainable roadmap for a greener tomorrow (Sustainability Pathway for Corporates/Businesses/Brands)
Singapore Fashion Council leads the Fashion industry in achieving sustainability through transition pathways. The goal of such transition pathway is to raise sector-level capability, provide toolkits for enterprises to identify sustainability gaps and prioritise actions. This will empower corporates and brands in their sustainability journeys.
Crafting ESG strategy is a 5-step process
Equip ESG leadership and raise awareness
- Secure ESG training for Leadership
- Create an understanding of ESG objectives and activities
- Nominate an ESG Champion
Identify company-specific issues and define ESG vision
- Understand the strategic purpose of the company and differentiation
- Establish an ESG vision and mission
Map out the value chain and estimate ESG impact
- Map out value chain of the company from raw material to waste
- Estimate company’s GHG emissions
- Identify strategic priorities and align with your stakeholders’ concerns
Identify and prioritise ESG action levers
- Review potential ESG strategic options and solutions
- Prioritise levers based on materiality (environmental impact, water consumption) and strategic priorities
- Explore ESG reporting solutions
Implement the action plan and communicate
- Develop and action plan
- Initiate data collection (quantitative); set and define key success factors, KPIs, and targets
- Initiate ESG Reporting & Audits
Towards a journey of verified social and environmental performance
SFC has partnered with B Lab Singapore to help businesses to become B Corps. Many companies in the fashion industry are aspiring to be purpose-led; eschewing damaging environmental practices and embracing responsible reforms. From luxury fashion houses like Chloe to trusted outdoor brands like Patagonia, certified B Corps in fashion, health and beauty are disrupting business as usual, delivering on the UN Sustainable Development Goals and creating a shared prosperity for all.
B Corps are for-profit companies certified by B Lab to meet the highest standards of verified social and environmental performance, accountability and transparency. Purposeful, profitable and resilient, B Corps use the power of markets to maximise not just profits but, value for all stakeholders – workers, communities, customers and the environment.