Fashion: key takeaways from the G7 Summit in France.



The 2019 G7 Summit in Biarritz, France held this year from August 24th to August 26th, was conformed with meetings and event talks focused on climate action, trade and inequality. A summary of the Summit impacting the fashion industry are presented below:


Climate Action:

French President Emmanuel Macron placed climate change and biodiversity protection as key issues for the summit. Ahead of the G7 summit, luxury brands and retailers committed to a new environmental Fashion Pact—with goals to stop global warming, restore biodiversity and protect the oceans. On Monday, August 26, G7 leaders agreed to fund $20 million to help Amazon countries fighting wildfires and to protect the rainforest.


World Trade:

The G7 leaders issued a statement on world trade—with a commitment to “open and fair world trade and to the stability of the global economy.” The statement also noted the importance of intellectual property (IP) protection and the elimination of unfair trade practices, as designers and fashion tech entrepreneurs continue to face IP challenges while promoting and scaling their brands.


Inequality:

The G7 leaders discussed taking action to eliminate gender inequality and foster economic empowerment for women. Like many sectors and governments worldwide, the fashion industry continues to face challenges of building inclusive teams that reflect the real diversity of their followers and consumers. While the fashion industry has made some progress in terms of inclusivity for models and designers, there is still much work to do for women and talent of color working in legal and other positions of power.


Source: Fashion Innovation Alliance

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