SAN FRANCISCO--(BUSINESS WIRE)--In a groundbreaking study released today, Trove, the leader in branded resale, and Worldly, the most comprehensive impact intelligence platform for the apparel industry, reveal where and how circular models play an important role for brands working to reduce their emissions when combined with upstream supply chain interventions.
This comprehensive study, titled “Where Are Circular Models Effective Sustainability Strategies for Fashion Brands?”, models the impact of resale in addition to supply chain interventions. By understanding the carbon implications of circular models across different types of products, brands can focus their efforts on generating the best possible outcomes.
Key Insights from the Study Include:
- Resale is a Significant Decarbonization Strategy: Particularly for Premium Apparel and Outdoor Brands, resale can result in a 15-16% reduction in annual carbon emissions in 2040. These brands can achieve annual revenue growth and simultaneously reduce the need for new production by 23-35% annually.
- Maximize Resale Efficiency for Emissions Benefit: Brands achieve the most substantial emissions reductions by amplifying the value of their products in the resale market. Product durability, design, and craftsmanship play pivotal roles.
- Operational Control is Key for Greenhouse Gas (GHG) Accounting in Resale: Brands that control their resale operations and maximize revenue from used products are able to capture the greatest share of Scope 3 emissions benefit.
“As the fashion industry adopts resale for carbon reduction, our study offers a vital guide to measure the impact of circular programs,” says Gayle Tait, CEO of Trove. “In partnership with Worldly, we're committed to catalyzing industry change and assisting brands on their sustainable journey. With emerging regulations, reporting ESG data is essential for competitiveness and brand integrity. Our paper helps businesses to evaluate their initiatives,” Tait emphasizes.
“We’re thrilled to be Trove’s partner in this white paper, providing the technical expertise essential to understanding how circular strategies can impact carbon reduction efforts,” said Worldly EVP, Market Impact, Del Hudson. “As climate change becomes more severe worldwide, consumers are demanding action and governments are implementing regulation. Both business model and policy decisions must be informed by credible data. We’re proud to partner with organizations like Trove to provide insights that help measure and validate the effectiveness of their innovative programs.”
To see the full study, please visit: https://trove.com/decarbonizing-fashion
Trove is the market leader in branded resale and trade-in for world-class brands and retailers such as Canada Goose, lululemon, Patagonia, REI, Levi’s, Arc’teryx, Allbirds, and more. Through its proprietary Recommerce Operating System, Trove is accelerating the shift toward more sustainable business models, foundational for circularity. Over the last decade, Trove has equipped leading brands with technology and operations to create and scale branded resale programs by enabling customer trade-in of items, single-SKU identification and condition grading, site build and maintenance, and customer data collection, analytics and reporting.
Worldly is the planet’s most comprehensive impact intelligence platform, trusted by 40,000+ major brands, retailers, and manufacturers in fashion, outdoor, home goods, toys, and more. Worldly uniquely collects high-resolution primary data specific to companies’ value chains, operations, and products, providing insight into true impacts across carbon, water, chemistry, and labor. Featuring the most comprehensive source of ESG data for global manufacturers and the largest library of materials and product impacts, Worldly empowers businesses to scale responsibility into their global operations, faster and more accurately. Hosting, connecting with, and supporting the leading industry solutions and methodologies including ZDHC, Bluesign, and the Higg Index – the most widely-adopted measure of sustainability in the apparel industry – Worldly delivers the insights businesses need to reduce their impact, comply with emerging regulatory and financial disclosure requirements, and meet the expectations of a new generation of customers. www.worldly.io