7 months ago
32
China keen to restore confidence in the economy amid a shaky recovery
Millions of consumers can expect to see accurate and clear green claims when shopping for fashion items with Asos, Boohoo and George at Asda, Britain’s competition watchdog said.
The Competition and Markets Authority (CMA) said the companies had signed formal agreements to change the way they display, describe, and promote their green credentials.
Following our action, the millions of people who shop with these well-known businesses can now have confidence in the green claims they see.
This also marks a turning point for the industry. The commitments set a benchmark for how fashion retailers should be marketing their products, and we expect the sector as a whole – from high street to designer brands – to take note and review their own practices.
Green claims: ASOS, Boohoo and George at Asda must ensure all green claims are accurate and not misleading, in plain language
Statements regarding fabrics: Statements made about materials in green ranges must be specific and clear, such as ‘organic’ or ‘recycled’, rather than ambiguous – using terms like ‘eco’, ‘responsible’, or ‘sustainable’. The percentage of recycled or organic fibres must be clearly displayed and easy for customers to see.
Criteria for green ranges: The criteria used to decide which products are included in environmental collections – such as ASOS’s former ‘Responsible edit’, Boohoo’s ‘Ready for the Future’ range, and George at Asda’s ‘George for Good’, and any further ranges – must be clearly set out and detail any minimum requirements.
Use of imagery: The firms must not use ‘natural’ imagery – such as green leaves – logos, or icons in a way that suggests a product is more environmentally friendly than it actually is.
Product filters: Search filters must be accurate, only showing items that meet the filter requirements – for example, if a consumer uses a filter to show ‘recycled’ trousers, only trousers made from mainly recycled materials should be shown.
Environmental targets: Any claims made to consumers about environmental targets must be supported by a clear and verifiable strategy, and customers must be able to access more details about it. Such information should include what the target is aiming to achieve, the date by which it is expected to be met, and how the company in question will seek to achieve that target.
Accreditation schemes: Statements made by the companies about accreditation schemes and standards must not be misleading. For example, statements must make clear whether an accreditation applies to particular products or to the firm’s wider practices.
Japan’s medium to long-term inflation expectations, and trend inflation, are still in the process of heading towards 2%.
8.30am GMT: Sweden’s Riksbank interest rate decision
10.30am GMT: Bank of England financial policy committee releases its March summary and report on risks to financial stability
11am GMT: US MBA Mortgage applications for week of 22 March
Continue reading...