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Textile companies in Finland, whose government has developed a national road map towards creating a circular economy (1), are developing game-changing solutions to achieve carbon neutrality.
According to the report ‘Fashion on Climate’, published in 2020 by consultants McKinsey & Co and Danish non-profit organization Global Fashion Agenda, “the fashion industry accounts for around four per cent of emissions globally”, and “more than 70 per cent” from “upstream activities, particularly energy-intensive raw material production, preparation and processing” (2).…

The European Union (EU) must adopt a wholesale price cap for gas, support small-and-medium-sized enterprises (SMEs) and set a single European strategy to stop the damage caused by the energy crisis, Euratex, the European Apparel and Textile Confederation, has told WTiN.…

The Mozambique government has proposed that companies, in the public and private sector, should be obliged to contribute 1% of their payroll to finance vocational education institutions in its country. The reason is that Mozambique companies and public bodies are struggling to recruit quality Mozambican graduates, forcing managers in ongoing major projects on gas and mining to hire ex-pats from the foreign labour market.…

How effective is the ongoing fight against money launderers and terrorist financers? AML experts are arguing that despite FATF’s increasing focus on effectiveness in mutual evaluation reports and its extensive data on jurisdictional compliance with its recommendations, more statistical indicators would be valuable.…

Ensuring data held by organisations with AML/CFT reporting duties is clean and correct is a bedrock of an effective compliance programme fighting dirty and terror money flows. But given the vast and increasing amount of data handled by large companies, partnerships and public bodies, this task has never been simple and is becoming more onerous.…

Consumers of athleisure and performance gear will drive demand for sustainability in this segment, before requirement in materials and industrial processes are mandated by regulations, textile industry observers have indicated. As a result, existing brands have been warned by market experts to focus on product development, facing competition from newcomers keen to capitalise on increases sales for this segment witnessed during the Covid-19 pandemic. …

While FATF assessments focus on the policy and regulatory response of governments, law enforcement and AML agencies in fighting dirty money, the fact remains that these efforts are undertaken by teams – and how these groups’ staff members work together and are managed underscores their effectiveness.…

FATF has acted against Russia, further squeezing it from the international AML/CFT system over its invasion of Ukraine, that as of October 17 had killed 6,306 civilians (UN figures). The global AML body’s latest plenary meeting highlighted the “needless loss of life, suffering and destruction” caused by the invasion, with Russia violating “FATF’s core principles [on] the security, safety and the integrity of the financial system”.…

The tobacco industry is a global sector, with supply chains spanning the world. Muslim consumers – and there are 1.97 billion if them – are an important part of any tobacco major’s market portfolio, not to mention local Muslim companies. But a key challenge for tobacco companies targeting Muslim smokers, vapers and other consumers is religion – some Muslim scholars say tobacco is haram, and not in keeping with Islamic guidance, because of mental and physical impact on smokers.…

The Canadian auto industry has warned the country’s provincial governments against pushing regulatory complexity over electric vehicle (EV) sales by retaining ambitious local sales mandates when the federal government is rolling out its own requirements for manufacturers. Canada’s Liberal federal government is developing detailed legislation that would implement a political commitment made earlier this year to insist that by 2035, all new light duty vehicles sales would be zero-emission vehicles (ZEVs) and medium- and heavy-duty vehicles by 2040.…