WEBVTT - The Ugly Truth About Fast Fashion

0:00:00.080 --> 0:00:03.160
<v Speaker 1>You're listening to Bloomberg Business Week with Carol mess Here

0:00:03.240 --> 0:00:05.800
<v Speaker 1>and Tim Steneveek on Bloomberg Radio.

0:00:06.120 --> 0:00:08.080
<v Speaker 2>So we're gonna talk a little bit about fast fashion,

0:00:08.119 --> 0:00:11.399
<v Speaker 2>which kind of came into its own in the nineteen ninety.

0:00:11.480 --> 0:00:14.240
<v Speaker 2>So we're talking about a business model of rapidly converting

0:00:14.280 --> 0:00:17.239
<v Speaker 2>designs and trends into cheap and readily available clothing. It's

0:00:17.280 --> 0:00:21.160
<v Speaker 2>been celebrated matt for making high fashion accessible to the masses,

0:00:21.560 --> 0:00:24.799
<v Speaker 2>but the model is also blamed for promoting over consumption

0:00:25.079 --> 0:00:26.960
<v Speaker 2>and a lot of we've done Bloomberg has done a

0:00:26.960 --> 0:00:29.920
<v Speaker 2>lot of stories about all these barely worn clothing that

0:00:29.960 --> 0:00:33.320
<v Speaker 2>are exported to countries like Ghana and just shows up

0:00:33.360 --> 0:00:36.440
<v Speaker 2>in landfills and it's just pollution and it's just bad

0:00:36.479 --> 0:00:37.199
<v Speaker 2>for the environment.

0:00:37.320 --> 0:00:40.320
<v Speaker 3>After like poor children are paid eleven cents an hour

0:00:40.479 --> 0:00:44.000
<v Speaker 3>to make them. There's horrible conditions and so yes.

0:00:43.880 --> 0:00:46.240
<v Speaker 2>Yes, there's a lot there, all right, It's just.

0:00:46.159 --> 0:00:49.320
<v Speaker 3>Like a horribly bad Yeah.

0:00:49.960 --> 0:00:51.839
<v Speaker 2>So, joining us with some thoughts on the ethical and

0:00:51.920 --> 0:00:57.280
<v Speaker 2>environmental impacts of fast fashion on Zoom from Montreal is Aloaisa.

0:00:57.480 --> 0:00:58.320
<v Speaker 2>I say it correctly.

0:00:59.120 --> 0:01:00.720
<v Speaker 1>My name is Elouise Eloisa.

0:01:00.880 --> 0:01:04.240
<v Speaker 2>I'm sorry. I forgive me. Eloisa lewis founder and CEO

0:01:04.280 --> 0:01:06.559
<v Speaker 2>of New Climate Culture, and they are a climate science

0:01:06.560 --> 0:01:10.560
<v Speaker 2>and biodiversity think tank. I just couldn't read my own handwriting. Eloisa,

0:01:10.640 --> 0:01:12.520
<v Speaker 2>good to have you here with Matt and myself. Tell

0:01:12.600 --> 0:01:14.120
<v Speaker 2>us first of all, a little bit about your think

0:01:14.160 --> 0:01:17.320
<v Speaker 2>tank and who you guys are. You know who funds

0:01:17.360 --> 0:01:19.360
<v Speaker 2>you and kind of what your main missions are.

0:01:20.600 --> 0:01:24.720
<v Speaker 1>Sure, I'm self funded thanks to an incredible inheritance left

0:01:24.720 --> 0:01:28.200
<v Speaker 1>to me my grandfather, who is a physicist who did

0:01:28.400 --> 0:01:32.720
<v Speaker 1>really incredible things for the world, especially during World War

0:01:32.720 --> 0:01:36.399
<v Speaker 1>Two for the Canadian Navy. So my grandfather just believed

0:01:36.480 --> 0:01:40.279
<v Speaker 1>in myself and my projects. I originally was an AI

0:01:40.360 --> 0:01:44.920
<v Speaker 1>researcher working on artificial intelligence at the top universities and

0:01:45.000 --> 0:01:49.560
<v Speaker 1>research institutions domestically and internationally. But then I decided to

0:01:49.600 --> 0:01:53.760
<v Speaker 1>become a climate scientist because I saw the importance that basically,

0:01:53.960 --> 0:01:56.800
<v Speaker 1>no matter what you do for your own personal health

0:01:56.880 --> 0:02:00.680
<v Speaker 1>or your own personal like subgroup on the planet, we

0:02:00.760 --> 0:02:04.640
<v Speaker 1>all share the same air, water, and soil as those

0:02:04.640 --> 0:02:10.600
<v Speaker 1>things migrate independent of our political cultural differences, and so

0:02:10.720 --> 0:02:13.000
<v Speaker 1>that really intrigued me. I wanted to help detox the

0:02:13.040 --> 0:02:16.840
<v Speaker 1>planet as much as I was interested in programming the

0:02:17.360 --> 0:02:18.160
<v Speaker 1>human biome.

0:02:18.760 --> 0:02:23.000
<v Speaker 3>So all right, let's jump into fast fashion then, Eloisa,

0:02:23.760 --> 0:02:26.480
<v Speaker 3>I can see, you know, the arguments against it are

0:02:26.520 --> 0:02:31.280
<v Speaker 3>pretty clear. On the other hand, it's a great way

0:02:31.520 --> 0:02:34.560
<v Speaker 3>for people who don't necessarily have a lot of money

0:02:34.639 --> 0:02:40.800
<v Speaker 3>to feel good about themselves and dressing fun clothes. What

0:02:40.880 --> 0:02:42.480
<v Speaker 3>do you think about the industry?

0:02:43.680 --> 0:02:45.960
<v Speaker 1>I think that I mean, even right there, that's the

0:02:45.960 --> 0:02:49.040
<v Speaker 1>beginning of the problem. Is that we live in a

0:02:49.160 --> 0:02:52.960
<v Speaker 1>kind of capitalist, consumptive culture that makes you feel that

0:02:53.000 --> 0:02:56.320
<v Speaker 1>your self worth is dependent on the clothing you wear,

0:02:56.560 --> 0:03:00.360
<v Speaker 1>and that that's what makes you like more valid or

0:03:00.400 --> 0:03:03.880
<v Speaker 1>more hireable or something like that. And so I think

0:03:03.919 --> 0:03:07.760
<v Speaker 1>that just these industries, especially fast fashion, fast food, anything

0:03:07.840 --> 0:03:10.200
<v Speaker 1>that wants to get you to make an impulse purchase

0:03:10.639 --> 0:03:13.760
<v Speaker 1>is going to play into your insecurities and your sense

0:03:13.880 --> 0:03:17.880
<v Speaker 1>of time most importantly. So maybe I think it's part

0:03:17.919 --> 0:03:21.800
<v Speaker 1>of the false narrative that's being given, that's being fed

0:03:21.800 --> 0:03:25.480
<v Speaker 1>to consumers that they don't have time to find ethical

0:03:25.520 --> 0:03:29.600
<v Speaker 1>fashion when there are I know, everyone's already spending hours,

0:03:29.680 --> 0:03:33.160
<v Speaker 1>you know, scrolling on their phone for entertainment, and so

0:03:33.600 --> 0:03:37.840
<v Speaker 1>the same time resource that's being used for potentially some

0:03:37.960 --> 0:03:44.120
<v Speaker 1>kind of other entertainment or temporary satisfaction could be redirected,

0:03:44.400 --> 0:03:48.720
<v Speaker 1>and just the attention redirected toward doing a little bit

0:03:48.760 --> 0:03:51.920
<v Speaker 1>more research and putting more effort into how we're shopping

0:03:52.080 --> 0:03:53.520
<v Speaker 1>where we're shopping from.

0:03:53.600 --> 0:03:55.960
<v Speaker 2>Totally totally agreet. I feel like, you know, Elouis, I

0:03:55.960 --> 0:03:59.240
<v Speaker 2>was thinking about this, and I agree it's a dangerous thing,

0:03:59.240 --> 0:04:02.240
<v Speaker 2>and it's more about quantity than quality. I feel like

0:04:02.640 --> 0:04:04.440
<v Speaker 2>when it comes to it. Having said that, I think

0:04:04.440 --> 0:04:07.920
<v Speaker 2>about when we used to talk a lot about organic food,

0:04:08.360 --> 0:04:10.120
<v Speaker 2>be like, yeah, you gotta all got to eat better,

0:04:10.200 --> 0:04:14.040
<v Speaker 2>but it's expensive and not everybody can afford that, And

0:04:14.080 --> 0:04:16.200
<v Speaker 2>so how do we figure out better systems so that

0:04:16.240 --> 0:04:19.480
<v Speaker 2>we can reach more people, whether it's fashion, whether it's food,

0:04:19.640 --> 0:04:21.479
<v Speaker 2>or what have you tell us about some of the

0:04:21.520 --> 0:04:24.200
<v Speaker 2>things that you guys have been working with or on

0:04:25.080 --> 0:04:28.880
<v Speaker 2>to reduce the impact that really all of the fashion

0:04:28.960 --> 0:04:33.000
<v Speaker 2>industry has on the environment. To be fair, you make

0:04:33.040 --> 0:04:35.320
<v Speaker 2>a pair of genes, it use a ton of water,

0:04:35.800 --> 0:04:38.440
<v Speaker 2>So let's talk about that, like, so, and what you're

0:04:38.560 --> 0:04:39.360
<v Speaker 2>where you're making some.

0:04:39.320 --> 0:04:42.520
<v Speaker 1>Progress on yes, So when we think about this narrative

0:04:42.720 --> 0:04:45.120
<v Speaker 1>of how something is made and then how it comes

0:04:45.160 --> 0:04:47.320
<v Speaker 1>to our doorsett. You know, if earth is our playground,

0:04:47.560 --> 0:04:49.800
<v Speaker 1>what New comment Culture is really focused on is how

0:04:49.839 --> 0:04:52.960
<v Speaker 1>businesses play in that playground and especially where they're sourcing materials,

0:04:53.000 --> 0:04:55.560
<v Speaker 1>how they're sourcing it. So there's a difference between a

0:04:55.600 --> 0:05:00.320
<v Speaker 1>finite resource like fossil fuel and a renewable resource, which

0:05:00.400 --> 0:05:03.040
<v Speaker 1>is something that is part of a circular economy. So

0:05:03.880 --> 0:05:06.719
<v Speaker 1>we want to source. And what New Climic Culture helps

0:05:06.720 --> 0:05:10.080
<v Speaker 1>not only can we help your company find the right

0:05:10.800 --> 0:05:14.960
<v Speaker 1>materials so that you can create ethical fashion in your

0:05:14.960 --> 0:05:18.680
<v Speaker 1>production line, but also examining all the different aspects of

0:05:19.120 --> 0:05:23.880
<v Speaker 1>production and what chemicals are being used in the processing,

0:05:24.120 --> 0:05:28.400
<v Speaker 1>et cetera. And then even further, what we can do

0:05:28.640 --> 0:05:33.120
<v Speaker 1>is actually help start businesses of farms, because what we

0:05:33.279 --> 0:05:36.479
<v Speaker 1>need everywhere, any nation state or bioregion needs to have

0:05:36.560 --> 0:05:39.800
<v Speaker 1>its own local economy of clothing so that we're not

0:05:39.920 --> 0:05:42.680
<v Speaker 1>dependent on you know, it's very much out of sight,

0:05:42.760 --> 0:05:46.000
<v Speaker 1>out of mind to have a foreign investor or a

0:05:46.000 --> 0:05:50.839
<v Speaker 1>local investor create a factory that isn't really a lifestyle

0:05:50.839 --> 0:05:54.440
<v Speaker 1>that we should be putting other humans into, even regardless

0:05:54.440 --> 0:05:56.960
<v Speaker 1>of if it's possible to cource people to do it.

0:05:57.160 --> 0:06:00.360
<v Speaker 1>So people we're looking at farming, really at the seal

0:06:00.920 --> 0:06:07.440
<v Speaker 1>answer to different material pollution in the wastewater and landfills.

0:06:07.560 --> 0:06:09.440
<v Speaker 2>You know this probably more than most that to move

0:06:09.480 --> 0:06:12.720
<v Speaker 2>the needlely get to move something like a Walmart, or

0:06:12.800 --> 0:06:16.280
<v Speaker 2>you get to talk to Amazon like those those outlets

0:06:16.320 --> 0:06:19.040
<v Speaker 2>where a lot of stuff is being sold. Have you

0:06:19.080 --> 0:06:22.560
<v Speaker 2>what's your thoughts on that? And have you been able

0:06:22.600 --> 0:06:26.000
<v Speaker 2>to approach some of these kind of players if you will,

0:06:26.040 --> 0:06:26.840
<v Speaker 2>within the industry.

0:06:27.520 --> 0:06:30.440
<v Speaker 1>Absolutely, I mean that's really what I'm here to do.

0:06:30.560 --> 0:06:34.279
<v Speaker 1>I don't have I don't consider anyone my competition or

0:06:34.440 --> 0:06:38.599
<v Speaker 1>enemy in this industry of climate science, because particularly for me,

0:06:38.880 --> 0:06:40.880
<v Speaker 1>what my specialty and what my thing tank is about

0:06:41.000 --> 0:06:45.400
<v Speaker 1>is as simple as clean water, clean air, clean food,

0:06:45.480 --> 0:06:49.000
<v Speaker 1>clean soil, and that being the basis of our economies

0:06:49.040 --> 0:06:52.719
<v Speaker 1>actually being the fundamental measure of like a successful local

0:06:52.760 --> 0:06:56.159
<v Speaker 1>economy in any part of the world. And yeah, I'm

0:06:56.240 --> 0:06:59.039
<v Speaker 1>here to talk to anyone. I've been quoted next to

0:06:59.640 --> 0:07:03.560
<v Speaker 1>Amazon on Google X, on mobile, at and T, so

0:07:03.720 --> 0:07:06.960
<v Speaker 1>I'm ready to talk. I'm working with many companies all

0:07:06.960 --> 0:07:10.920
<v Speaker 1>over the world, especially research institutions and universities, are interested

0:07:11.240 --> 0:07:12.760
<v Speaker 1>in talking to me. I find there are kind of

0:07:12.760 --> 0:07:15.840
<v Speaker 1>the front lines of trying to educate students and future

0:07:16.000 --> 0:07:19.200
<v Speaker 1>entrepreneurs about to make better choices so that we can

0:07:19.320 --> 0:07:22.200
<v Speaker 1>set up industry from the beginning well, so that you know,

0:07:22.240 --> 0:07:25.840
<v Speaker 1>it's okay, we can definitely work with the established, but

0:07:25.920 --> 0:07:28.600
<v Speaker 1>if we're going to really look at the future of

0:07:28.840 --> 0:07:31.560
<v Speaker 1>the next industrial revolution, we know that it's going to

0:07:31.560 --> 0:07:34.880
<v Speaker 1>be artisanal. It's going to be about higher quality of

0:07:34.920 --> 0:07:38.160
<v Speaker 1>life and higher pay for everyone, because, like you've said,

0:07:38.400 --> 0:07:40.880
<v Speaker 1>a large part of this is because in order to

0:07:40.920 --> 0:07:47.160
<v Speaker 1>maintain the current systems around us electrical and gas and

0:07:47.280 --> 0:07:51.080
<v Speaker 1>heating and water, we are our money is spread very thin.

0:07:51.320 --> 0:07:54.320
<v Speaker 1>And so that's something we think about again with the company,

0:07:54.400 --> 0:07:57.200
<v Speaker 1>is every aspect of where is your money going as

0:07:57.200 --> 0:08:00.760
<v Speaker 1>a consumer in your lifestyle, so that you can you know,

0:08:00.800 --> 0:08:04.240
<v Speaker 1>why is it that we can't afford organic food sometimes

0:08:04.240 --> 0:08:11.280
<v Speaker 1>and we can't afford organic clothing Japanese Japanese done them,

0:08:11.360 --> 0:08:16.040
<v Speaker 1>like why and why not have more industry that is

0:08:16.080 --> 0:08:18.880
<v Speaker 1>local so that we can really show off pride as

0:08:19.120 --> 0:08:21.880
<v Speaker 1>Americans or as whatever a nation state or buy region

0:08:21.920 --> 0:08:25.480
<v Speaker 1>you're in. That's really about showcasing again a.

0:08:25.560 --> 0:08:28.600
<v Speaker 2>Lifestyle, Eloisa, I'm just saying, we just have about forty

0:08:28.600 --> 0:08:31.000
<v Speaker 2>five seconds left here, So for folks who might be listening,

0:08:31.000 --> 0:08:33.400
<v Speaker 2>and we have a really smart audience, investors and so

0:08:33.520 --> 0:08:37.000
<v Speaker 2>on in consumers of lots of stuff, advice in terms

0:08:37.200 --> 0:08:41.280
<v Speaker 2>of maybe you know, being able to contribute to kind

0:08:41.320 --> 0:08:43.319
<v Speaker 2>of the way you're thinking about it when it comes

0:08:43.360 --> 0:08:47.200
<v Speaker 2>to the fashion industry or buying stuff, and just kind

0:08:47.240 --> 0:08:49.160
<v Speaker 2>of like I said about thirty thirty five.

0:08:49.000 --> 0:08:54.000
<v Speaker 1>Seconds, Okay, well, look for like couture, vintage, slightly used,

0:08:54.440 --> 0:08:58.680
<v Speaker 1>trading at sea, things like that, any makers, artisanal makers

0:08:58.720 --> 0:09:00.360
<v Speaker 1>of clothing. That's who we're going to be like the

0:09:00.360 --> 0:09:04.560
<v Speaker 1>most important people to support and potentially invest in. And

0:09:04.600 --> 0:09:08.560
<v Speaker 1>then secondarily, go ahead and check out Project Drawdown that's

0:09:08.600 --> 0:09:11.960
<v Speaker 1>a compendium of solutions for climate change, as well as

0:09:12.080 --> 0:09:14.560
<v Speaker 1>our company, New climateculture dot com.

0:09:14.720 --> 0:09:16.040
<v Speaker 2>I love it. I love it. I have to tell

0:09:16.040 --> 0:09:17.880
<v Speaker 2>you my daughter and I Matt, we love going to

0:09:18.040 --> 0:09:21.480
<v Speaker 2>like vintage shops and stuff I like. I don't know

0:09:21.480 --> 0:09:22.520
<v Speaker 2>if you're into advantage, I.

0:09:22.520 --> 0:09:24.600
<v Speaker 3>Love it too. I mean that's the fun. But I

0:09:24.640 --> 0:09:27.520
<v Speaker 3>mean I had to admit I'm guilty of being a consumer.

0:09:27.679 --> 0:09:31.400
<v Speaker 3>So yes, I like to shop, and vintage shops are

0:09:31.600 --> 0:09:34.960
<v Speaker 3>usually cooler than any other shops because otherwise you just

0:09:35.000 --> 0:09:37.640
<v Speaker 3>have the mall chains that kind of suck you, like

0:09:37.720 --> 0:09:40.200
<v Speaker 3>moths too, though, I just like hanging out there because

0:09:40.240 --> 0:09:41.560
<v Speaker 3>they have good air conditioning.

0:09:41.840 --> 0:09:44.439
<v Speaker 2>Alouisa, thank you so much. Really appreciate it. She is

0:09:44.480 --> 0:09:47.240
<v Speaker 2>founder and CEO of New Climate Culture on Zoom from Montreal.

0:09:47.400 --> 0:09:50.360
<v Speaker 2>Check out her on Twitter at Buddha Culture