Investment: Fashion companies should innovate to reduce plastic pollution
When Adidas teamed up with Parley for the Oceans last year, launching a
collection of trainers and clothing made from recycled ocean plastic, both
the fashion industry and government took notice.
This month the UK government launched a new investment for businesses to
tackle the ocean plastics crisis, making 6 minion pounds available in
grants and private investment.
There is a market for ethical fashion
Many studies have shown shoppers will consider buying ecological or sustainable apparel as long characteristics such fit cost and styling are also considered. there is a niche for producing quality stylish good price with leading ready-to-wear fashion companies taking action about sustainability publishing their corporate responsibility.
But simply publishing a list of factories in order to be transparent about
production, is not going to save the planet.
According to the United Nations more than 8 million tonnes of plastic enter
the water every year, killing up to 1 million sea birds and 100,000
mammals, turtles and fish. Unless significant action is taken, the amount
of plastic in the seas will triple by 2025.
To tackle the plastics problem, Innovate UK and Sky Ocean Ventures have
joined forces to offer simultaneous public and private funding.
Innovate UK will provide up to 3 million pounds in grants to enable the UK
to lead the fight against waste, catalyse new ideas and quickly get
products and services to market. Part of this is from the Plastics Research
and Innovation Fund – a 20 million pound programme led by UK Research and
Innovation.
Sky Ocean Ventures will offer the same amount in private investment. Set up
by Sky, the firm looks to support young companies and create meaningful
change by highlighting environmental disaster caused by plastic pollution
in the oceans.
The first part of the funding competition is inviting applications from
projects that reduce plastic waste and pollution of wider environment and
promote a circular economy.
Which research areas can fashion companies tackle?
Fashion brands and companies could develop new, sustainable polymer
materials or sustainable plastic alternatives; support circularity through
improved resource use and design; new recycling processes, including
collecting, sorting and processing of waste plastics and increasing the
value of recycled polymers.
In order to be considered, applications should identify where revenue
generation and growth will occur in the UK as a result of the innovation
being developed and exploited.
Energy and Clean Growth Minister, Claire Perry said: “Heart-breaking images
of wildlife suffering due to plastics waste have been a stark reminder that
harmful pollution can have a devastating impact on our oceans. That is why,
this time last year, the Prime Minister committed us to eliminating all
avoidable plastic waste by 2042. We are investing more than ever before to
find alternative materials to harmful plastics. We want innovators and
businesses to get behind this too, helping us find new ways to cut down
waste and pollution while growing their business to have global impact.”
Ian Campbell, Interim Executive Chair of Innovate UK, said: “Plastic waste
has created a crisis that needs a global resolution. We need businesses,
investors, government and researchers pulling in the same direction,
creating workable solutions that people will be able to see on the shelves
before it’s too late.”
Fred Michel, Group Director, Impact Investment and Sky Ocean Ventures,
added: “Our aim is to enable entrepreneurs to support innovative new ideas
at the earliest stages with both investment and mentorship. We will use the
reach and voice of Sky’s platforms to highlight their solutions and help
consumers change behaviours.”
How to enter
The first part of the competition is now open and the deadline for
applications is 13 March 2019. For more information on how to apply visit
the page.
Photo credit: Adidas x Parley for the Ocean