Benchmarks work for five core reasons: First, they clarify what society expects from industries and companies. Second, benchmarks identify where and how companies can contribute to sustainability. Third, they promote a race to the top. Fourth, they help track progress. Fifth, benchmarks are a proven and effective engagement tool. For further details visit the World Benchmarking Alliance, of which Textile Exchange is an ally, here.
The CFMB is more than a benchmark and performance ranking. Companies benefit from taking part in multiple ways. Benchmarking gives you: