According to a joint study from Cornell University and Schroders, extreme weather events may cause the global fashion industry $65 billion in earnings by 2030.
Issues like extreme heat and flooding – caused by global warming – are anticipated to wreak the most havoc on the industry, said the study.
Countries such as Bangladesh, Cambodia, Vietnam and Pakistan are particularly vulnerable to these weather phenomena, and are subsequently expected to have a 22% decline in earnings by the end of the decade.
As a result, slowed-down production chains are predicted to reduce fashion industry job creation in these areas by nearly 1 million jobs before 2030.
