"Regulation is an important tool to impose limits on (short-term) profit maximising businesses and to reduce their negative impacts on nature and society. [...] But it is by no means a perfect tool, nor is it a costless tool, far from it. But since it is an available tool and since most stakeholders, including industry itself, is asking for it, it will be used, quite generously as it seems."
In his latest blog post, our Secretary General Lutz Walter delves into the ongoing discourse surrounding the necessity of strict regulation in the textile and fashion industry to attain sustainability. He acknowledges the industry's historical failure in implementing voluntary measures and meeting sustainability targets, attributing it to entrenched practices prioritising profit over sustainability.
