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- New Look partners with TrusTrace for blockchain traceability, advancing sustainability goals.
- Collaboration targets reducing carbon emissions and enhancing transparency in the fashion supply chain.
- TrusTrace’s open platform integrates with stakeholders, offering detailed insights for sustainable practices.
In a significant move towards sustainable practices, UK fashion retailer New Look has joined forces with blockchain traceability startup TrusTrace. As part of New Look’s ‘Kind to our Core’ initiative promoting responsible sourcing, the partnership aims to enhance transparency in the fashion supply chain.
🛍️ UK fashion giant New Look takes a stylish leap towards sustainability with #Blockchain! Teaming up with #TrusTrace, they're revolutionizing responsible sourcing, reducing emissions, and making fashion more eco-friendly.
— Collin Brown (@CollinBrownXRP) November 29, 2023
🌎💚 Someone should introduce them to #VeChain! 🚀🚀 pic.twitter.com/Da8U0OofmL
Over the past two decades, the fashion industry has witnessed a surge in disposable items, contributing to environmental concerns. With the garment industry responsible for up to 20% of industrial water pollution, New Look seeks to address these issues. The production of a single pair of jeans, for example, requires approximately 1,800 gallons of water.
To combat these environmental challenges, New Look has set ambitious targets, including a 46% reduction in carbon emissions by 2031 and achieving Net Zero status by 2040. The collaboration with TrusTrace and its blockchain traceability platform is expected to play a crucial role in achieving these sustainability goals.
TrusTrace CEO Shameek Ghosh emphasized the platform’s open architecture, which facilitates integration with various stakeholders, including retailers, manufacturers, suppliers, certification agencies, and sustainability solution providers. This integration aims to provide detailed insights into New Look’s supply chain, promoting transparency and accountability.
The reduction of carbon emissions, particularly those associated with suppliers (Scope 3 emissions), is a key focus for New Look, with a 22% reduction already achieved.
TrusTrace, known for its work with major sports brands like Adidas, Asics, and Brooks Running, sees New Look as another prominent addition to its clientele. The blockchain traceability platform has previously raised $6 million in a funding round in 2021.
As fashion giants increasingly adopt blockchain technology for traceability and sustainability, New Look’s collaboration with TrusTrace marks a pivotal step towards a more responsible and transparent fashion industry.