In 1833, British economics writer William Forster Lloyd mooted an idea that foretold the tensions at the heart of our current environmental emergency. Lloyd wondered why cattle on a public piece of land looked so skinny and why the grass was so threadbare compared to nearby private herds and land. The “tragedy of the commons”, he theorized, was that while each person was driven by their own interests, the impact had to be borne by everyone. So, it might serve your interest as a herder to keep buying new cattle, but that would mean less space for others. Eventually, the land and everyone’s herds, including yours, would suffer.
Companies are grappling with a similar dilemma when it comes to sustainability. The fashion and luxury industry is at the heart of this debate as one of the most polluting sectors, from a large carbon footprint and waste to water use, excessive land use, and labor issues. I gathered three industry experts advocating for change – Maxine Bédat,…