Fast fashion and inexpensive clothing has caused an enormous increase in global clothing production, often with adverse consequences for the garment workers. In this article, Olena Velychko, ESG Analyst at Nordea Asset Management, talks about how to tackle the problems and ensure sustainability.
Nordea, as the only Nordic bank, is one of 30 founding banks of the Principles for Responsible Banking developed together with United Nations Environment Programme Finance Initiative (UNEP FI). During a formal ceremony at the UN General Assembly in New York, 130 banks signed the Principles on September 22, 2019. By signing these, banks worldwide, representing over USD 47 trillion in assets, commit to taking on a crucial role in helping to achieve a sustainable future.