The Gulf Time Newspaper One of the finest business newspapers in the UAE brought to you by our professional writers and editors.
Bloomberg
UK lawmakers have written to the heads of online retailers including Amazon.com Inc. and Asos Plc to seek evidence about the environmental and social impacts of selling cheap clothes.
The letter to the head of Amazon in the UK was prompted by evidence given to a panel of British politicians that heard the demand for affordable garments online is so high that companies are at risk of paying well below the minimum wage and not devoting enough attention to the damage easily disposable clothes have on the environment.
The global fashion industry worth around $3 trillion makes 100 billion accessories and garments a year — about 60 percent of which are thrown away within a year, according to McKinsey & Co.
The panel drawing members of Parliament from all the main parties announced the inquiry into the sustainability of the UK’s fashion industry over the summer and has written to the CEOs of the country’s 10 biggest clothing retailers to ask what steps they’re taking to reduce their environmental impact.