Improving the sustainability of the Finnish fashion industry through creating shared value
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School of Business |
Master's thesis
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Language
en
Pages
36
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Abstract
The global fashion industry contributes significantly to environmental degradation, including water pollution, greenhouse gas emissions, and material waste. The volume of garments produced annually is still increasing and is expected to do so for the foreseeable future. This is in part due to the rise of fast fashion business models, which rely on the frequent consumption of cheap, short-lived garments. Only a small fraction of textiles and garments produced are reused or recycled, with most ending up burned or in landfills. In addition to environmental issues, many companies and suppliers continue to engage in unethical labor practices, despite much scrutiny from consumers and regulators. Long and complex supply chains are characteristic of the industry, making the origin and impact of products difficult to ascertain for both companies and consumers. Addressing these issues requires enhanced transparency, accountability, and the adoption of circular economy principles throughout the product life cycle. This thesis examines how the Finnish fashion industry can improve its practices by way of proactive sustainability innovation as well as external incentives, such as the upcoming EU Ecodesign for Sustainable Products Regulation. The research is grounded in a comprehensive literature review of the sustainability issues facing the fashion industry. Two case studies were conducted using semi-structured interviews to map out the current state of the industry in Finland, and identify areas for improvement. The work argues for a paradigm shift from short term profit maximization to one of Creating Shared Value, where business activities simultaneously promote social and environmental well being.Description
Thesis advisor
Tarabichi, HaniEloranta, Ville