Daily Newsletter

19 August 2024

Daily Newsletter

19 August 2024

Cascale’s Higg adapts to meet EU sustainability reporting rules

Cascale, formerly known as the Sustainable Apparel Coalition, has released a whitepaper detailing how its Higg Brand & Retail Module (BRM) can assist brands and retailers in meeting their regulatory reporting obligations under the European Union's Corporate Sustainability Reporting Directive (CSRD).

Isatou Ndure August 19 2024

The whitepaper, titled 'How the Higg BRM Supports CSRD Reporting Obligations,' highlights the tool's ongoing evolution to support companies with navigating the landscape of sustainability reporting. As regulatory requirements become increasingly stringent, the Higg BRM aims to provide a reliable framework for brands and retailers in the textile, apparel, and footwear industry.

The Higg BRM, available exclusively on the Impact intelligence platform Worldly assesses 11 critical impact areas along global value chains, fostering a holistic approach to sustainability. Cascale's analysis reveals a 65% content overlap between the European Sustainability Reporting Standards (ESRS) and the Higg BRM, offering a clear pathway for organisations aiming to comply with ESRS.

Maravillas Rodriguez Zarco, senior director of Higg Index strategy and operations at Cascale explained: "Through continuous evolution and updates, the Higg BRM empowers organisations to not only meet relevant regulatory requirements but to forge ahead with impactful, data-driven sustainability strategies."

While aligning broadly with ESRS on sustainability topics, the Higg BRM also provides deeper insights into issues specific to the textile, apparel, and footwear sectors. This sector-specific focus ensures users benefit from a comprehensive tool that meets general reporting requirements while addressing industry-specific priorities.

To support companies in understanding and leveraging the Higg BRM for regulatory compliance, Cascale is currently hosting a webinar series titled "Navigating Legislation & the Higg Index." The series explores how the Higg Index tools can offer specific guidance on reporting requirements with a recent webinar co-hosted by Cascale and Worldly focusing on the intersection of the Higg BRM with key EU legislation.

On 9 August Cascale and sustainable chemical management firm ZDHC Foundation collaborated to align and advance environmental sustainability in fashion and the wider consumer goods industry.

Luxury Apparel Market Overview

Per GlobalData, the luxury apparel market was valued at $201.6 billion in 2023 and will grow at a CAGR of >5% during 2023-2028. While macroeconomic difficulties in Western Europe and North America will impact luxury demand in the short term, countries in APAC and Eastern Europe will continue to emerge as burgeoning economies. Per our analysis, Hermes emerged as the uncontestable winner within the luxury apparel market, growing its share at an exponential rate in 2023.

Luxury Apparel Market Overview

Per GlobalData, the luxury apparel market was valued at $201.6 billion in 2023 and will grow at a CAGR of >5% during 2023-2028. While macroeconomic difficulties in Western Europe and North America will impact luxury demand in the short term, countries in APAC and Eastern Europe will continue to emerge as burgeoning economies. Per our analysis, Hermes emerged as the uncontestable winner within the luxury apparel market, growing its share at an exponential rate in 2023.

Luxury Apparel Market Overview

Per GlobalData, the luxury apparel market was valued at $201.6 billion in 2023 and will grow at a CAGR of >5% during 2023-2028. While macroeconomic difficulties in Western Europe and North America will impact luxury demand in the short term, countries in APAC and Eastern Europe will continue to emerge as burgeoning economies. Per our analysis, Hermes emerged as the uncontestable winner within the luxury apparel market, growing its share at an exponential rate in 2023.

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