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Fashion retailers sign circular economy pact

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The Ellen MacArthur Foundation, a charity that promotes the move towards circularity, will release the joint statement on 13 June. The statement commits retailers to transition to a more circular model of production, across the food, plastics, finance and fashion sectors. 

It has been signed by the CEOs of global businesses including Inditex, Nestle, Unilever, H&M Group, Danone, Coca-Cola, PepsiCo, L’Oreal, Ikea, Stella McCartney and Barclays Bank, as well as organisations such as WRAP and Global Fashion Agenda. 

The businesses have also committed to address other global challenges, including climate change, waste and pollution.

Ellen MacArthur Foundation founder, Dame Ellen MacArthur, said: “Today, CEOs of some of the world’s biggest companies, policymakers, philanthropists, academics, and other influential individuals have reaffirmed their commitment to building a circular economy.

”Their statement marks the start of an ambitious programme of work that will turn the call to ‘build back better’ [the campaign for a coronavirus recovery plan that embraces positive change] into a tangible effort, by giving the recovery phase a clear pathway. Together we can build an economy that is distributed, diverse, and inclusive, rather than extractive, polluting, and exploitative.”

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