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Pin to quick picksMarks & Spencer Share News (MKS)

Share Price Information for Marks & Spencer (MKS)

London Stock Exchange
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Share Price: 258.30
Bid: 258.30
Ask: 258.50
Change: 3.70 (1.45%)
Spread: 0.20 (0.077%)
Open: 254.60
High: 259.20
Low: 254.60
Prev. Close: 254.60
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MPs urge government to take action against throwaway fast-fashion

Tue, 15th Sep 2020 09:33

(Sharecast News) - Members or parliament are urging the government to take urgent action against throwaway fast-fashion and support the development of sustainable fabrics and recycling facilities for clothes.
In a report from the all-party parliamentary group (APPG) for ethics and sustainability in fashion, MPs said that the sector was hit by the pandemic and warned "supply chains have broken, sales have dropped, unsold stock has built up, retail outlets have closed and companies have gone out of business. Consumer habits have shifted and so have attitudes - the public wants to see change."

"Coronavirus has exposed deep inequalities and unsustainability in the garment industry" said Catherine West, chair of the APPG and Labour MP for Hornsey and Wood Green.

"Creating a sustainable and ethical future for the fashion industry is an important but complex challenge for government, industry and the public and what is clear is that there is an appetite for this on all sides. We must seize this moment by pushing the government to be a global leader, helping to build a more sustainable and ethical fashion industry."

According to research carried out by the environmental charity Hubbub which was included in the report, 65% of UK residents agree that the government should urgently do more to reduce the negative impact of the fashion industry on the environment.

As part of the initiative, MPs are also calling for a review of VAT rules which currently make it more cost-effective for companies to destroy unwanted clothing than give it away. In 2019, roughly £140m worth of clothing was sent to a landfill in the UK.
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