The European Accelerator is a new initiative by The Fashion Pact, the non-profit organisation founded in 2019 to promote sustainability in fashion. The European Accelerator brings together major luxury names such as Chanel, Ermenegildo Zegna, Kering, Moncler and Prada, with the aim of advocating collective action, starting in Italy, to decarbonise the fashion supply chain.

 
According to estimates, the European fashion industry will need to invest €4.4 billion by 2030 in order to meet its decarbonisation targets. However, in Italy, where a great deal of luxury products are manufactured, economic pressures, for example high levels of debt, make such investments unsustainable for approximately 58% of suppliers. In addition, the lack of shared standards in sustainability reporting makes it difficult to gather accurate data on manufacturers’ environmental practices.
 
The Accelerator consists of three interconnected work streams. Firstly, the initiative aims to involve participating brands in defining a questionnaire gathering data about energy use, water consumption and waste generation, tested over a six-week period with a diverse group of 74 Italian suppliers, including finished goods manufacturers, tanneries, and producers of fabrics, yarns and accessories.

The questionnaire also includes suggestions from CNMI, the Italian Fashion Chamber, and has been developed in collaboration with Quantis, an environmental consultancy company owned by the BCG group. It is available to all fashion labels on a voluntary and non-exclusive basis. Through the questionnaire, the Accelerator is keen to encourage a growing number of brands to utilise harmonised sustainability reporting metrics.
 
The questionnaire has already been adopted by several producers, and will be progressively extended throughout the supply chain. A committee of experts will regularly update the questionnaire, ensuring it is aligned with the latest sector legislation and best practices.
 
Secondly, the Accelerator will focus on boosting manufacturers’ skills and identifying opportunities to improve efficiency and foster the uptake of renewable energy.
 
Thirdly, recognising that access to finance is still a major obstacle to progress, the Accelerator will commit to creating new opportunities enabling suppliers to access the capital needed to invest in cleaner technologies and support long-term transformation.