Transforming Fashion with Double Materiality: A Sustainable Revolution
In a world increasingly conscious of its environmental impact, the fashion industry stands at a crossroads. Aditya Birla Fashion and Retail Limited (ABFRL) took a pioneering step towards sustainability, partnering with Amplo Global to embark on a groundbreaking Double Materiality Project.
Defining Double Materiality:
Double Materiality transcends traditional financial metrics by analyzing a company’s impact not only on shareholder value but also on the broader ecosystem. It assesses how ABFRL’s actions ripple through the universe, from resource reuse in Vietnam and Bangladesh to greener manufacturing processes.
Quantitative Analysis:
With data-driven precision, Amplo Global dissected ABFRL’s operations through a comprehensive survey and quantitative analysis. Over 20 capabilities were meticulously weighted and analyzed to unveil the nexus between financial performance and environmental stewardship.
Matrix Transformation:
ABFRL’s data, spanning 25 business areas and 7 stakeholder types, underwent a metamorphosis into a coded matrix. This matrix, scored and validated by ABFRL, formed the bedrock of analysis on AmploFly4.0™, Amplo Global’s patented platform.
Unlocking Insights:
AmploFly4.0™, engineered for both risk management and materiality assessment, illuminated the critical areas driving ABFRL’s double materiality impact. Energy, water usage, and safety quality emerged as pivotal, directly impacting shareholder value and ecological sustainability.
Standards of Excellence:
Guided by EFRAG and referencing GRI, SASB, and BRSR standards, ABFRL’s Double Materiality Analysis set a new benchmark for sustainable business practices. The questionnaire, meticulously crafted on the EFRAG framework, elicited responses from 304 stakeholders, driving comprehensive insights.
A Global Impact:
ABFRL’s strides towards sustainability resonate across the apparel industry. Worldwide, competitors take note of ABFRL’s innovative practices, signaling a shift towards a greener, more responsible future.
Charting the Course:
ABFRL’s journey goes beyond internal transformation. By embracing double materiality, ABFRL not only cleans its own house but also shapes the larger industry landscape, inspiring others to follow suit.
Conclusion:
In the realm of fashion, ABFRL stands as a beacon of sustainability, driven by data, innovation, and a commitment to the planet. With Amplo Global as its trusted partner, ABFRL charts a course towards a future where fashion and sustainability go hand in hand.