Spain-based fashion conglomerate Inditex, which owns Zara, has announced the launch of a three-year partnership with environmental non-profit WWF, through which it will finance nine ecosystem restoration projects around the world.
As much as €10 million (US$10.6m) has been set aside to support forest conservation, water basin restoration, and the protection of endangered species across Europe, Asia, Africa, and Latin America.
Part of this agreement will also see WWF and Inditex develop foundations for a transformational partnership through a year-long scoping phase that will have a special focus on water stewardship and biodiversity conservation.
This analysis will include drawing up a map of impacts along the group’s value chain and a review of its actions, impacts, and advances with a view to identifying priorities and key geographies. With the results in hand, the two organizations will seal a second agreement, to which a budget will be allocated, for making progress on sector transformation.
Inditex’s CEO, Óscar García Maceiras, “Our sustainability strategy seeks to increase the positive impact of our work on people, communities and natural resources. We are therefore delighted to partner with organizations like WWF who share our determination to help protect and restore ecosystems worldwide.”
“WWF is excited to partner with Inditex in our mission to reverse nature loss and achieve a nature-positive world by 2030. Nature underpins our economies, our societies, and our wellbeing,” said Marco Lambertini, director general of WWF International.
Like many industries, the apparel and textile sector are highly dependent on nature and biodiversity. However, it also has a significant impact. So, it needs urgent action to halt and reverse nature loss, including collective and strategic investments in restoring and protecting biodiversity, WWF DG added.