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Making the retail industry sustainable

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By illuminem briefings

· 2 min read

illuminem summarizes for you the essential news of the day. Read the full piece on Entrepreneur or enjoy below:

🗞️ Driving the news: Naresh Tyagi, Chief Sustainability Officer for Aditya Birla Fashion & Retail Limited, discussed the importance of sustainability in the retail sector during the Sankalp Global Summit
• He emphasized the need for organizations to streamline sustainability communication while conforming to consumer expectations for ethical and environmentally responsible practices

🔭 The context: Sustainability, as defined by the United Nations, means "meeting the needs of the present without compromising the ability of future generations to meet their own needs"
• However, in the retail industry, a real threat to the environment is the thirst and production for fast fashion, which requires significant natural resources and endangers the access of future generations to them

🌍 Why it matters for the planet: Making the retail industry more sustainable is crucial for both environmental and economic reasons
• On one hand, it will allow for the reduction of carbon emissions, waste, and the depletion of natural resources
• Additionally, it aligns with consumer preferences, as people move toward more sustainable choices, ensuring the industry's long-term relevance and profitability

⏭️ What's next: Organizations must prioritize sustainability throughout their supply chains, by simplifying sustainability messaging and supporting the use of renewable resources
• Governments can contribute by incentivizing sustainable practices, promoting renewable energy adoption, and educating and empowering consumers about responsible consumption 

💬 One quote: "It is not a question of survival, it is the ability to sustain in the short and long term. And when sustainable development happens where it is creating a positive impact on all stakeholders, there is real sustainability." (Naresh Tyagi, Chief Sustainability Officer for Aditya Birla Fashion)

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