HOW TO GET YOUR HEAD AROUND COSTING IN AFTERLIFE STEWARDSHIP.
March 5, 2023
Incorporating sustainability into business operations is crucial today, especially when it comes to clothing and textile waste. It’s time to make it part of business as usual with minimal cost and maximum benefit. Environmental, Social, and Governance (ESG) criteria are becoming a standard measure of corporate responsibility, and businesses that address sustainability meet these criteria and attract potential investors.
As we budget for the next year, let’s incorporate the full life cycle cost of products into our financial planning. This means considering not only the upfront costs but also the costs of disposal and waste management. By doing so, we can contribute to a more sustainable future while improving our bottom line.
Practical steps for incorporating sustainability into costings include conducting a waste audit, implementing sustainable production processes, and partnering with sustainable suppliers and manufacturers. At Textile Recyclers Australia, we’re here to guide you through the process and help keep as much textile and apparel out of landfill as possible.
At the very least, let’s cost in an afterlife stewardship into our costing sheets. After we cost in the main fabric, trims, packaging, etc., let’s also cost in the afterlife. It’s simple and only pennies per piece. It’s like an insurance policy to cover the brand responsibility that the marketplace is now demanding. Your market is demanding this. Let’s make the change now.