“First Dutch investor quits clothing industry over human rights, sustainability concerns” - NL Times

“ASN Impact Investors, an asset manager focused on sustainability with around 4.2 billion euros in its portfolio, has sold all its interest in clothing companies. According to ASN, companies like H&M, Zara, and Asics are giving in to pressure from Chinese competitors and making too little progress in the area of sustainability and human rights. ASN is the first Dutch investor to quit the clothing industry”, NL Times states on their website, 

 

“The sector is trapped in the consumerism cycle of only producing more and more. Lie said. “These clothing companies now compete with Chinese parties like Shein and Temu, who produce even faster. This is an obstacle to sustainability.” Consumers carry some of the blame. “We know about the appalling conditions in factories and the beaches full of clothing waste. Yet we are inclined to buy new clothes when we walk into a shopping street.” 

 

"The clothing industry is one of the most polluting industries in the world, with high greenhouse gas emissions and environmental pollution. Polyester clothing—the backbone of fast fashion—is responsible for a large part of the microplastic problem, releasing tiny bits of plastic in the wash”. 

 

Click here to read the full article from NL Times.