French President Emmanuel Macron and Kering chairman and chief executive François-Henri Pinault have unveiled a new plan to reduce the environmental impact of the global fashion industry. Signed by 32 companies—such as Adidas, Puma, Nike, H&M Group and Gap—the G7 Fashion Pact marks the first serious effort by a coalition of private-sector companies to help reduce global warming, replenish the planet's biodiversity, and curtail the dumping of plastics in the world's oceans. At its current growth rate, textile and apparel production emissions will rise more than 60% by 2030, according to UN Climate Change. The fashion pact signatories have set a goal to enlist at least 20% of the global fashion industry in their effort, as measured by volume of production. The non-binding accord was presented to leaders from the Group of Seven nations—the U.S., Canada, France, Germany, Italy, Japan, and the U.K.— who convened in Biarritz, France, for their annual summit.

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