The Corporate Benchmarking team has been heads down on data analysis of the 2021 benchmark. Results will be launched in March – including confidential Company Scorecards and the public Material Change Index Leaderboard, Sector Scorecard, and Impacts Dashboard. This year’s Insights Report, due out later in May, will be a special edition celebrating three years of Industry trends in raw materials sustainability. Here are all the details about what’s coming up next, along with launch dates.
Brands and retailers: If you are a 2021 Material Change Company, we can confirm that we will be releasing confidential scorecards to our brand and retailer participants in the third week of March. You will find your Company Scorecard in your portal a few days before the launch of the Leaderboard. In conjunction with the scorecard, each participating company will receive a detailed communications kit, so you will have everything you need to share the news.
Suppliers and manufactures: If you are in the cohort of suppliers and manufacturers pioneering our Suppliers Material Change Index, you will receive your scorecard in May 2022. This year remains a program pilot, however with the increased attention to submission reviews we will be incorporating a “performance banding” in your scorecard.
MCI Leaderboard and Impacts Dashboard
The MCI Leaderboard and Impacts Dashboard will be released later in March, soon after the release of confidential company scorecards for brands and retailers.
The MCI Leaderboard will be refreshed for 2021 shortly after participants receive their scorecards. The Leaderboard celebrates the “Class of 2021” (272 brands and retailers), featuring over 40 new companies and a returnee rate of 91%. For our established benchmarkers, there are three years of participation to celebrate!
The Impacts Dashboard will also be updated in line with this year’s results. The Dashboard models outcomes and impacts associated with materials sourcing portfolios, and is a key tool to track industry progress towards Textile Exchange’s Climate+ goal of a 45% reduction in greenhouse gas emissions from the production of fibers and raw materials for the fashion and textile industry. This interactive tool provides multiple ways to engage with the data.
This year, the Material Change Insights report and our Levelling Up series will be launched in May. This will be a detailed review of the last three years of benchmarking, the progress we have made, and where we need to go next to achieve our targets.
Our Corporate Benchmarking Program for textile and apparel companies aims to drive a race to the top in the transition to preferred materials. Since its pilot in 2015, the program has grown to accommodate over 300 companies and we have the ambition to increase our community. The more companies that participate in the program and share their journey, the more reflective the results are of industry progress.
Every three years we undertake a deep dive into the program to ensure it is future-fit for driving change. We are working to make sure our benchmark is fully aligned with other key industry initiatives and over the next 12 month we are pleased to have the opportunity to work closely with the Sustainable Apparel Coalition to share ideas of the best way to collate key data and to avoid duplication.
The new survey launches in June, with modifications to streamline some questions and further connect to impact. Our goal is to help signatories report and track progress on critical aspects of the climate and nature agenda.
We invite you to participate in our stakeholder consultation by completing the applicable feedback survey–the participating company feedback from, or the community feedback form. Please look out for the opportunity to join a Focus Group discussion in March too. Group size will be capped.
Our growing “community of change”
Lots of information to absorb, so here’s a topline recap.
With the closing of the Validation phase of the Material Change Index Survey and the upcoming launch of Company Scorecards in March, it is exciting to see how many companies are working towards more sustainable practices today.
Even more exciting is seeing a growing number of companies join our “community of change” and leveraging the CFMB Program to set targets, measure progress, and make a difference. This year, the program grew to over 300 brands, retailers, suppliers and manufacturers – this includes signatories to the Textile Exchange Sustainable Cotton Challenge, and the Textile Exchange Recycled Polyester challenge.
In May, the 2021 Material Change Insights Report will be released. This is a great opportunity to share insights and progress with the entire industry over the past three years with a special edition of the Insights the Report – “Class of 2021”.
With the closing of this three-year cycle the Corporate Benchmarking Program will go under review and I am looking forward to the release of the revised, and refreshed Material Change Index Survey. Be sure to look out for more details.
Corporate Benchmark Team, Textile Exchange