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illuminem summarizes for you the essential news of the day. Read the full piece on Reuters or enjoy below
🗞️ Driving the news: The EU has introduced a textile strategy: by 2030, textiles sold in the EU must be durable, contain mainly recyclable fibers, be free from harmful substances, and ensure human rights in the supply chain
• Additionally, manufacturers will be accountable for product waste
🔭 The context: Europe's new strategy will impact Asia deeply, as Asian manufacturers supply over 70% of the EU’s textiles
• The strategy, while non-binding now, will potentially update current EU directives and regulations to align with its proposals
🌎 Why does it matter for the planet: The textile industry is a significant contributor to environmental degradation
• By ensuring products are recyclable and minimizing waste, the industry can reduce its carbon footprint. Plus, human rights assurance means a more ethical production process
⏭️ What's next: European Parliament members, like Pernille Weiss, are studying legislative acts to align with the strategy
• The first changes are expected after the EU elections next summer
• Asia's vast textile industry must adapt rapidly or face decreased access to the EU market
💬 One quote: “The way fashion is produced and consumed needs to change, this is an undeniable truth. We support efforts that aim at driving progress towards a more sustainable fashion industry.” (H&M Spokesperson)
📈 One stat: Textile-exporting nations like India exported textiles worth $4.8 billion to the EU in just the first 10 months of 2022
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