The Crucial Role of ESG Ratings in Sustainable Fashion
In the ever-evolving landscape of fashion, the spotlight has shifted towards sustainability, and for good reason. As conscientious consumers seek eco-friendly alternatives, sustainable fashion brands are not just a trend but a necessity for a planet in need. Amidst this paradigm shift, Environmental, Social, and Governance (ESG) ratings emerge as a powerful tool, guiding both brands and consumers toward a more responsible and ethical industry.
B77 has partnered with EcoRatings , a brainchild of celebrated Indian entrepreneur Aditi Balbir which is helping us understand our impact based on sustainability assessment frameworks using AI/ML and Big Data techniques to quantify the impact at a product/service level.
What is an ESG rating?
A verified and quantified score on a scale of 1 to 10 which are derived from independently auditing individual products and services and all the moving parts that go into the same through the assessment framework. ESG ratings are a comprehensive measure of a company's environmental impact, social responsibility, and governance practices. In the context of sustainable fashion, these ratings play a pivotal role in assessing a brand's commitment to minimizing its ecological footprint, fostering social well-being, and ensuring transparent and ethical governance.
Environmental Stewardship:
Sustainable fashion brands are expected to champion environmental conservation. ESG ratings evaluate a company's efforts to reduce its carbon footprint, implement sustainable sourcing practices, and adopt eco-friendly production methods. By prioritizing these factors, brands can not only mitigate their environmental impact but also inspire industry-wide change. At B77 we prioritize sourcing natural, organic and certified sustainable fabrics and trims from reputed vendors, all our fabric dyeing is 100% biodegradable and we achieve a lot of color in our collections by incorporating digital prints which are designed inhouse and processed in a lean energy and water environment using only azo free inks. The design process at B77 is primarily digital and uses 3D design technology which has helped us to reduce our sampling wastage by 72% and achieve a higher fabric yield.
Social Responsibility:
Fashion is not just about clothing; it's about the people behind the garments. ESG ratings delve into a brand's social practices, assessing fair labor practices, diversity and inclusion initiatives, and community engagement. Brands that prioritize the well-being of their workers and contribute positively to society earn higher ESG ratings, reinforcing the importance of creating fashion with a conscience. Every B77 garment in manufactured in a SEDEX certified manufacturing unit in India, our karigars get paid a fair wage and enjoy social and health benefits for themselves and their families under the multiple government aided and social sector aggregated schemes and incentives that the company is involved in. Our teams regularly go through upskilling trainings and certificate courses in first aid, fire safety and evacuation.
Governance and Transparency:
Transparent governance is the cornerstone of a sustainable fashion brand. ESG ratings scrutinize a company's governance practices, ensuring accountability, ethical decision-making, and responsible leadership. Brands that prioritize these principles build trust with consumers, fostering a stronger connection that goes beyond just fashion preferences.
Consumer Empowerment:
For conscious consumers navigating the sea of fashion choices, ESG ratings offer a valuable compass. By understanding a brand's ESG score, consumers can make informed decisions aligned with their values. This empowerment fosters a demand for sustainability, encouraging more brands to adopt responsible practices and contribute to a circular economy.
The Path Forward:
Sustainable fashion is not merely a trend; it's a transformative movement that demands collaboration and commitment. ESG ratings provide a roadmap for brands to navigate this journey, guiding them toward holistic sustainability. As consumers increasingly prioritize eco-conscious choices, brands embracing ESG principles are not just fashion leaders but stewards of a brighter, greener future.
In conclusion, the incorporation of ESG ratings in the fashion industry is not just a metric; it's a commitment to a sustainable and responsible future. By embracing these principles, fashion brands can weave a narrative that goes beyond aesthetics, creating a positive impact on the planet and its people. The importance of ESG ratings is not just in the numbers but in the profound change they inspire, leading the way towards a fashion industry that treads lightly and leaves a lasting legacy of sustainability.
Check out the latest in Eco-friendly fashion NEW ARRIVALS
