THE BICESTER COLLECTION PARTNERS WITH CNMI FOR THE SUSTAINABLE FASHION

CAMERA NAZIONALE DELLA MODA ITALIANA AND ETHICAL FASHION INITIATIVE RENEW COLLABORATION FOR CNMI SUSTAINABLE FASHION AWARDS 2023

Milan, September 24th 2023 – The fashion industry is re-evaluating its narrative to address the question of long-term value creation. It is gradually moving towards stakeholderfocused approaches, aiming to align its operations and outputs with planetary boundaries and the social needs of a world impacted by climate change, biodiversity loss, excessive use of natural resources, inequality, and confict.

Simone Cipriani, Head and Founder of the Ethical Fashion Initiative and Chair of the UN Alliance for Sustainable Fashion, says:

“These awards symbolize a collective efort to address all systemic issues related to sustainability. Through collective action, we are generating a new kind of value—one that extends far beyond the realms of investors and businesses, benefting a multitude of stakeholders. This value reaches artisans and communities, nurtures young creatives, contributes signifcantly to reinforcing biodiversity and combating climate change. It embodies a process of long-term value creation that is reshaping the very purpose of the industry. Governance structures are poised to evolve in response to this transformative change, ofering greater voice and agency to stakeholders.

As we embark on this journey together, moving in the right direction, our primary task is to accelerate our pace, coordinate our eforts, and ensure that these early examples become standard practice in the business world”

These awards will demonstrate the fashion industry’s endeavours to cultivate support from a broader range of stakeholders while grappling with an existential question: What is the purpose of this industry?

Purpose serves as the cornerstone for any organization, shaping its identity and reason for being. It not only guides decision-making but also provides a powerful framework that aligns the organization’s actions and goals. The industry’s active engagement with the question of purpose is a positive development, and the forthcoming Awards will showcase its journey towards formulating an answer.

In line with their respective mandates, CNMI and EFI are committed to supporting this transition by implementing a set of management tools on ESG due diligence and reporting. These tools have been specifcally developed to facilitate the industry’s pursuit of purposedriven practices, and they have been formulated based on international legislation and guidelines on responsible business.

They have undergone testing in working groups organized by CNMI, which have been held regularly over the past 1.5 years. Furthermore, these tools have been refned over the last year to align with the forthcoming legislative process arising from the EU Green Deal.

Of particular signifcance, these tools have anticipated the future European law on corporate sustainability obligations, known as the Corporate Sustainability Due Diligence Directive (CSDD). In December 2022, European countries reached an agreement on an EU-wide supply chain act, and on June 1st, 2023, the European Parliament voted in favour of the proposed directive. The EFI and CNMI are closely monitoring this process to ensure absolute consistency of the tools with it.

Additionally, eforts are being made to harmonize the tools with two other key pieces of EU legislation. These include the proposal for a new Eco-design for Sustainable Products Regulation and the Directive on green claims. The European Parliament voted on the 11th of May 2023 in support of these measures, which are aimed at improving product durability by combating greenwashing and misleading claims on consumer labels.

It is important to recognize that sustainability is an ongoing process and requires continuous work. The development of these tools is a step forward in progressing along this journey