The Fashion Sustainability and Social Accountability Act has the potential to have a significant influence on fashion companies
08 January 2022, Mumbai:
The New York State Legislature has presented the Fashion Sustainability and Social Accountability Act, which, if approved, will have a significant influence on the fashion industry. Assembly Bill A8352 was introduced by State Senator Alessandra Biaggi and Assemblywoman Anna R. Kelles.
The bill, which is the first of its type, would make the fashion sector, which is one of the least regulated, more accountable. All big fashion stores will be required to "disclose environmental and social due diligence practices."
It would force all brands to map 50% of the supply chain "across all stages of manufacturing, from raw material to final output" using "good faith efforts."
According to reports, the regulation would affect big businesses with a revenue of more than $100 million (it will cover many fast fashion brands like H&M and luxury brands like Louis Vuitton).
If fashion firms break the rule, they might face fines of up to 2% of their annual revenue. Experts say it's a major step forward, and one that might be a real step toward making fashion more ethical and sustainable.
Because brands have no legal responsibility to their manufacturers, factory violence, wage theft, and safety hazards are rampant. With the passage of this new measure, these companies will have to verify that criteria are met in the manufacturing of garments and the farming of materials.
The state legislature is expected to vote on the bill after budget deliberations in late Spring, according to The New York Times. Senator Biaggi stated that they have a lot of support and are optimistic that the bill will become law. Brands have yet to respond, but we may expect some opposition in the future.
In the case of premium businesses, the argument against complete openness is frequently based on concerns about private design knowledge.
In the fast fashion industry, subcontractors are frequently blamed for supply chain misbehaviour. If A8352 becomes law, we could finally see an end to these excuses and some adjustments.
Dear Reader, we at DFU Publications are committed to providing the latest news updates on trade development and insights, to keep our readers informed. Stay tuned. Subscribe to our newsletter.
DAILY NEWS:
