The RealReal Urges Congress to Consider Circularity in the Fight Against Climate Crisis
August 02 2022 - 10:12AM
The RealReal (Nasdaq: REAL)—the world’s largest online marketplace
for authenticated, resale luxury goods—recently hosted a
Congressional briefing entitled, “Fashion and the Environment – How
to Achieve a Circular Future.” The bipartisan briefing for House
and Senate staff was kicked off with opening remarks by both Senate
Recycling Caucus Co-Chair Tom Carper (D-DE) and House Recycling
Caucus Co-Chair Frank Pallone (D-NJ).
“As a major source of global greenhouse gas
emissions, as well as the source of many of the microplastics that
are ending up in our ocean, the textile industry has a significant
impact on the fate of our planet. At a time when we need all hands
on deck to combat the climate crisis, leaders in the fashion and
textile industry have an important role to play to promote
sustainability and transition towards a circular economy,” said
Senator Carper.
“On behalf of the House Recycling Caucus, I want to thank The
RealReal, Goodwill and the Ellen MacArthur Foundation for
highlighting the incredible benefits of working toward a circular
economy. As Chairman of the Energy and Commerce Committee, I am
working to support a sustainable, circular economy. Including
textiles and the fashion industry in the equation is a great step
forward and I appreciate the partnership of these groups,” said
Chairman Pallone.
The RealReal’s Vice President of Public Affairs and
Business Development, Allison Sommer, led the discussion, which
raised awareness of the colossal, negative footprint that fast
fashion has on our planet - from the impact of producing daily
thousands of low quality new designs using synthetic materials, to
the accelerated rate at which these pieces end up in landfills -
and highlighted the power of reuse as a waste management solution.
Sommer was also joined by Ellen MacArthur Foundation's Policy and
Institutions Senior Manager, Dacie Meng, and Goodwill Industries
International’s Manager of Sustainability, Brittany Dickinson.
“Since our founding, The RealReal has been committed to
protecting our planet; sustainability is one of our founding core
values. The precipitous rise of fast fashion is a major contributor
to the acceleration of the climate crisis,” said Sommer. “We need
to be doing more to hold these brands accountable for wasteful
overproduction of poorly made, often critiqued as ‘disposable’
items, and instead encourage circular models. I’m honored to have
had the chance to brief congressional staff on these issues, side
by side with the Ellen MacArthur Foundation and Goodwill, to
demonstrate the net-positive impact that circular models have on
our climate.”
According to the Ellen MacArthur Foundation, more than half of
fast fashion items purchased are disposed of in less than one year.
In the U.S., it’s a massive contributor to the 11.3 million tons of
clothing sent to landfills annually. The panel not only showcased
evidence that helped position circular economies and sustainable
business models as an important part in the fight against climate
change, but also demonstrated how the growing domestic industry is
creating jobs across the United States while replacing foreign
fast-fashion jobs.
“The Ellen MacArthur Foundation envisions a fashion industry
where products are designed to be used more, made to be made again,
and made from safe and recycled or renewable inputs. We appreciate
the opportunity to join the briefing today to discuss how we can be
working together with policymakers and industry to make fashion
circular and help tackle global challenges like climate change and
biodiversity loss,” said Meng.
“Goodwill® has been an environmental pioneer and social
innovator in “reduce, reuse, repurpose” for 120 years. Through a
business model of collecting and selling donated goods, Goodwill
organizations help communities extend the life of usable items and
divert them from landfills. The public, private, and nonprofit
sectors play an important role in advancing solutions that help
promote the circular textile economy, and we’re proud to be at the
table. Today’s briefing was the first of many conversations we will
have with lawmakers and partners on the critical issue of
sustainability, contributing to the economic health of communities,
preserving resources, and protecting our environment,” said
Dickinson.
For more information about The RealReal and its commitment to
sustainability, please visit Therealreal.com/sustainability.
About The RealReal Inc.The RealReal is the
world’s largest online marketplace for authenticated, resale luxury
goods, with more than 27 million members. With a rigorous
authentication process overseen by experts, The RealReal provides a
safe and reliable platform for consumers to buy and sell their
luxury items. We have hundreds of in-house gemologists, horologists
and brand authenticators who inspect thousands of items each day.
As a sustainable company, we give new life to pieces by thousands
of brands across numerous categories—including women’s and men’s
fashion, fine jewelry and watches, art and home—in support of the
circular economy. We make selling effortless with free virtual
appointments, in-home pickup, drop-off and direct shipping. We do
all of the work for consignors, including authenticating, using AI
and machine learning to determine optimal pricing, photographing
and listing their items, as well as handling shipping and customer
service. At our 19 retail locations, including our 16 shoppable
stores, customers can sell, meet with our experts and receive free
valuations.
Press Contact:Laura Hogyapr@therealreal.com
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