UK Fashion Giant New Look Embraces Blockchain for Sustainability

5 Revolutionary Metaverse Types Reshaping Our Digital Future
  • 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.

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.

Read Also

Crypto News Land, also abbreviated as "CNL", is an independent media entity - we are not affiliated with any company in the blockchain and cryptocurrency industry. We aim to provide fresh and relevant content that will help build up the crypto space since we believe in its potential to impact the world for the better. All of our news sources are credible and accurate as we know it, although we do not make any warranty as to the validity of their statements as well as their motive behind it. While we make sure to double-check the veracity of information from our sources, we do not make any assurances as to the timeliness and completeness of any information in our website as provided by our sources. Moreover, we disclaim any information on our website as investment or financial advice. We encourage all visitors to do your own research and consult with an expert in the relevant subject before making any investment or trading decision.

Other posts