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UK Govt. Pledges Funding To Support Circular Economy

UK Govt. Pledges Funding To Support Circular Economy

UK Govt. Pledges Funding To Support Circular Economy

The U.K. government has pledged 80 million pounds ($98.5 million) to fund a new program to push the country’s fashion industry to embrace a circular business model.

Prime minister Boris Johnson announced the funding at a 10 Downing St. event, where he referenced various fabric and tailoring innovations that are revolutionizing the British fashion industry.

The funding will be provided to the British Fashion Council (BFC), which plans to launch a 10-year sustainable change program that will encourage businesses to rethink their practices and develop a circular business model with a focus on recycling and innovation.

“Imagine a great city like Leeds reclaiming its heritage in this industry – but with reprocessing plants for fabric reuse and take-back centers for clothing in high streets,” said Stephanie Phair, the outgoing chair of the BFC.

The U.K. government’s investment in the circular economy comes nearly two months after the Chinese government set a goal of recycling a quarter of its 22 million tons of annual textile waste by 2025.

The recycling program will help China generate two million tons of recycled fiber within the next three years, according to the country’s National Development and Reform Commission (NDRC), Ministry of Industry and Information Technology, and Ministry of Commerce.

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