February 3, 2021
The story so far
Hello there and welcome to our new monthly CFMB Update! If you are not a member yet, please do join our Hub Community of Companies Creating Material Change. Going forward, the CFMB Hub communications will be arranged in three “streams” (1) Material Change Index: MCI – Brands and Retailers, (2) MCI – Suppliers and Manufacturers, and (3) Biodiversity Benchmark.
Textile Exchange’s Corporate Fiber & Materials Benchmark (CFMB) Program first piloted in 2015 and is now in its sixth full year. The ambition of the CFMB program is to help companies systematically measure, manage and integrate a preferred fiber and materials strategy into mainstream business operations. For a quick orientation, see our promotional video (1 minute) and our program overview (15 mins).
In 2019, the CFMB program went through an overhaul and launched the first Material Change Index (MCI) for brands and retailers (attracting over 170 companies) and launched our new-look Material Change Insights Report and Leveling Up Series through the GreenBiz channel. We extended our coverage with a pilot with 20 leading suppliers and manufacturers last year. The 2020 Material Change Insights Report is due out in the Spring. It will include results from over 200 brands/retailers (yes! An increase in participants over 2019) and include key findings from the suppliers/ manufacturers pilot. We have an exciting launch planned with our MCI communications partner GreenBiz (who just released their State of Green Business annual report last week – worth a read!).
Reflecting growing concern about biodiversity, we have expanded the CFMB program to incorporate a beta version biodiversity benchmark. Having worked hard with a group of experts including The Biodiversity Consultancy, over 60 advisors and with much appreciated support from Sappi we drafted a survey, guidance notes, and launched a new webpage once again with our friends at GreenBiz. You can find out more about the Biodiversity Benchmark and access all documentation, including the registration form, here. The beta survey will remain open until the end of February and we warmly welcome any company, large or small, advanced or just beginning and be part of our Biodiversity “Bench-learning” community. Please note, there will be no public benchmarking of companies’ biodiversity efforts, just an enormous opportunity to come together around this incredibly important topic and accelerate learning.
What’s coming up
During February we will be closing out all surveys through our submission review process. This is an intensive exercise, and we need your help to ensure we have all surveys reviewed, validated and closed by end of Feb.
March will be another busy month as the team conducts the analysis, prepares the confidential company scorecards and the public insights report. Stakeholder consultation will also be carried out and recommendations taken into the 2021 cycle.
In April, the 2020 results (MCI Leaders board and Insights report) will be launched – and the 2021 survey opens. This will the last of a three-year sequence. It’s important to maintain continuity of the survey for at least three years so participants can benefit from strong year-to-year comparisons.
During February and March, the pilot companies and the CFMB team will be reflecting on the survey “fit” for suppliers/manufacturers and taking recommendations into the 2021 version. Pilot companies receive confidential scorecards and public learnings and case studies showcased in the 2020 Insights report (mentioned earlier).
The suppliers/manufacturers survey will be integrated into the 2021 survey launch in April so the MCI will be open to brands, retailers, manufacturers and suppliers.
The Biodiversity Benchmark survey opened in December and is proving really popular with almost 100 companies registered or engaged in the beta version so far. The survey remains open until the end of February. Please register your interest here.
Building on the success of last year’s MCI Drop-in Clinics, the team will be running “Biodiversity 101” drop-in clinics on Thursdays commencing on the 11th of Feb. See more about the clinics here and add to your calendar, now!
For your efforts, confidential company feedback reports and aggregated insights will be issued to all participants in April/May. For the first time. company-level and industry-level analytics will provide valuable insights into “state of play” on biodiversity from which we can all learn and grow. A broader stakeholder consultation process will be held with participants, the advisory group, and anyone else interested in supporting the benchmarking / bench learning for biodiversity. Please find the feedback form here – we warmly welcome all constructive feedback and suggestions.
Alongside the industry insights and other learning opportunities within our network, a multi-media series will be launched in partnership with GreenBiz and Sappi for an exciting cross-sectorial learning opportunity.
what we are excited about
We are very excited to be working with Versantus on updates to our online interactive tools. The Material Change Index Leaders Board and the Materials Impact Dashboard, along with company confidential digital scorecards, will be seeing some beautiful new functionality. We can’t wait to show you.
Our aim this year is to fast-track the process to reduce the time between the survey and the release of the scorecards and insights. You’ve told us how important it is to “close the gap” between your data reporting and our findings reporting – and we are very excited (and determined) to make this happen!
As always, thank you for helping us Create Material Change. Please find us on CFMB@TextileExchange.org or via the CFMB Companies Creating Materials Change Hub. We are open to welcoming new companies to the program – please contact us and we can find a time for a chat!
-The CFMB Team