Great to connect and understand how the fashion industry is partnering with finance and is investing in sustainability – a global and complex issue… Francesca Romana Rinaldi (Bocconi) talks about reinventing sustainability by creating circular economies – this is critical as we tackle child labour practices, limited global resources and human rights to a decent livelihood. So where is philanthropy in the conversation on sustainability- good to see H&M Foundation involved and many big names – but there is a lot of money in the industry – the strategy still looks young and needs to be developed to ensure the investment is for real and lasting change. In fact, if anything, the industry is returning to its roots – heritage rooted nature centred communities that have been creating cloths and clothes using raw and natural materials for thousand of years and are continuing to do so – but how will this balance with the demand for cheap clothes – particularly from low income countries and less wealthy communities, the economy of mass production, and market competition? India and Cuba are two very interesting reuse and recycle economies that can provide good model case studies.
Entrepreneur Start ups are coming up in this field – investors are gathering too.
To enrich the dialogue, the move to a sustainabile cycle economy needs the voice of the donor and philanthropist to balance the views of the profit making economy and provide a wider representation of views, motivations and opportunities which will also expand knowledge and potential for partnerships. The Knowledge learning from humanitarian philanthropy and the process of community transition from poverty to sustainable income and inclusive communities would add a richness to the dichotomy of perspectives and guide the development of the strategy towards lasting sustainable models.
I will say, of course, call on the Academy of Philanthropy and invite the donor voice to the table.
Thank you for the invitation and the opportunity. A great evening and wishing everyone success. Everyone in the room is making their contribution towards public good. Together, the potential for change for a beater world is awesome.