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- The fashion industry is moving towards a circular and sustainable model to address issues of environmental impact and waste.
- VeChain’s innovative service calculates and visualizes the carbon footprint of digital products, helping textile providers promote sustainability and allowing customers to identify environmentally conscious companies.
One of the biggest challenges faced by the fashion industry is the environmental impact of the waste problem. As per statistics by the Boston Consultancy Group, a total of 87% of the material used in clothing production end up in landfills. On the other hand, less than 1% move towards recycling.
Industry players have been making efforts to move towards a circular and sustainable business model, however, the speed of this shift is very slow. Also, the scale of consumption and production literally outpaces these circular solutions.
Given the urgent climate crisis and the large amount of waste generated, it is crucial to focus on finding ways to reduce the negative impact of the fashion industry in the near future.
The fashion industry has an environmental problem: 87% of clothing material up in landfills or incinerated and less than 1% of these clothes are recycled.
That has to change. Here's how textile waste can be recycled into new garments rather than garbage. https://t.co/OxkfgZ1XSF pic.twitter.com/wwmn1HZCMc
— Boston Consulting Group (@BCG) June 16, 2023
Encouraging the reuse of clothes is important, but eventually, all garments reach a point where they can no longer be reused. To truly achieve a circular fashion industry, there is a need for advanced recycling solutions to handle the end-of-life stage for the large amount of clothing in circulation. This includes clothing produced using traditional, linear methods, as well as textiles that are challenging or impossible to recycle using existing technologies.
This is exactly where blockchain technology can play a key role. It can bring traceability to the clothing value chain while registering activities for traceable items with full transparency. Players like VeChain are already at the forefront of delivering such technological prowess.
Blockchain and the Textile Sector
VeChain (VET) is a powerful platform that helps businesses and industries solve data challenges. It uses advanced technologies like distributed governance and the Internet of Things (IoT) to create a network that benefits various global sectors while achieving sustainable development goals.
VeChain has already proven its effectiveness in improving efficiency, traceability, and transparency in data trails, supply chains, and unique ecosystems.VeChain ToolChain™ is the platform’s one-stop data Blockchain-as-a-Service (BaaS) platform.
Although this solution has been tried and tested in the food sector, it can also be employed in the textile sector to bring transparency and traceability to the clothing industry. VeChain offers verified traceability templates to businesses, allowing them to track various aspects such as origin, cross-border activities, and the entire production process. These templates have been proven effective and can be customized to suit different enterprise needs.
In August 2021, VeChain launched a unique service that calculates and visualizes the carbon footprint of digital products. This innovative solution combines blockchain technology with a software-as-a-service (SaaS) business model. It helps textile providers showcase the sustainability of their apparel to downstream brands and consumers. By using blockchain-endorsed labels, customers can easily identify environmentally conscious companies, leading to improved sales and a greener world.
