During our #NYClimateWeek session 'Financing Fashion's Decarbonization Initiatives', moderator Rachel Cernansky, Senior Sustainability Editor at Vogue Business, asked "How do we build a business case for CFOs, given their incentives and mandates?" It’s a question that illuminates the urgent need to build strategic alliances between finance and sustainability to collectively tackle supply chain decarbonization. Among those sharing their insights on stage was Katherine O'Hare, Vice President of Sustainability at J.Crew Group, which is working closely with cotton farmers to invest in the future of their main raw material. This long-term investment, she said, is essential to ensuring both business and environmental sustainability. "To get projects approved, brands are commonly asked what the traditional business case is, and what are the benefits they can get. The main benefit for brands is adding resilience to the supply chain,” she said. Ulrika Leverenz, Head of Green Investment at H&M Group, added: "Looking at the valuation of any company, it makes sense to look long term. Having a long-term mindset is number one." And the need to target investment to ensure the entire supply chain can make the necessary changes cannot be neglected. "We need new revenue streams and incomes for farmers - this is of critical importance." said Lena Staafgard chief operating officer at Better Cotton. As these complex challenges continue, the discussion at #ClimateWeekNYC co-hosted with Tapestry and J.Crew Group, was a reminder that making progress in supply chain decarbonisation will take more than financial investment, but also a shift in leadership and strategic collaboration. Stay tuned as we continue to explore and unpack existing initiatives and opportunities for engagement. #finance #CFO #sustainablefinance #esg #sustainablefashion #climateinvestment #cleantech
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