Sustainability is all the rage right now, but consumers want more than lip service from brands—they want to know that companies are making strides to have cleaner, safer, better supply chains.
Textile Exchange wants to help brands improve their sustainability offerings and the first step is for companies to know where they stand. The non-profit aimed at improving sustainability in the textile industry launched its Preferred Fiber and Materials (PFM) Benchmark Program and, with it, brands and retailers interested in sustainability will be able to benchmark their performance in the area both internally and against industry peers.
Companies can complete an online survey before June 3, 2016, and in turn receive a customized, confidential feedback report with their results in September.
“The PFM Benchmark Program provides a robust structure to help companies systematically measure, manage and integrate a preferred fiber and materials strategy into mainstream business operations, compare progress with the sector, and transparently communicate performance and progress to stakeholders,” Textile Exchange said in a statement.
Companies will follow a self-assessment process, looking at four key areas—corporate strategy, supply chain, consumption and customer engagement—in order to identify strengths and opportunities for improvement. The September report will compare the participating company’s scores in each section with those achieved by the sector as a whole, and it’s all confidential.
“The ultimate aim is to help companies grow their use of preferred (i.e. more sustainable) fiber and materials and gain a deeper understanding of how they contribute to their overall sustainability goals,” Textile Exchange said. “By comparing their scores with those achieved by the sector, companies can plan improvement efforts and prioritize action areas by identifying both their strengths and the gaps where future progress can be made.”
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Tara Donaldson, Sourcing Journal Online