Corporate Sustainability Requirements (CSR 2.0)

Corporate Sustainability Requirements (CSR 2.0) - Mar 25,2021

As world economies begin to resume businesses in phases, the post COVID-19 period of operations certainly won’t be the same as earlier. Serious changes in protocols and considerations in cost are the initial challenges for resuming workflow.

Some of the major MNCs have already offered their employees #workfromhome options for the entire year, the future of lavish and desirable offices might well be a thing of the past. The #newnormal will define its own set of rules.

In the Pre-Covid period and working closely with some of the major luxury and affordable luxury brands in fashion, each one of them showed major interest in developing sustainable product ranges. Be it RTW lines, Capsule Collectionsor even Haute Couture. Except a few major brands that have already framed a clear strategy towards “Sustainability”, most of them were unclear as to how they should approach it. So far we have been successful in offering some “sustainable” solutions to these brands, by associating with mills complying with sustainable norms and managing supply of products produced by such units. But currently it’s a like driving on the Autobahn,where you adjust your speed and maneuver according to conditions.

Now, in this new phase of life, all companies have certainly realized the true value of protecting nature and the environment. But again, some familiar questions still seem to be unanswered:

· What levels of traceability and transparency to be implemented in order to sustain competition?

· Whether to focus on Survival or Sustainability?

· Should sustainable approach be restricted to:

Protecting environment
Optimize use of natural resources
Health and Safety
Gender equality
· Are functionality and values of the brand covered under sustainable umbrella?

· Can you do with just developing a particular product line “as sustainable”?

· What are the costs involved?

· Will the customer be able to pay the increased price?

· How to implement new methodology for changed “consumerism”?

Even though as a global body #UNDP has clearly defined the 17 Sustainable Development Goals (SDGs), it’s a matter of time, how fashion houses and brands incorporate the changes. However it’s not a mandate but a clear choice for companies whether or not to work towards achieving these goals. As it seems the day is not far away, when nature will ultimately push this through on mankind!

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