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Fashion forward or just for show?

Unveiling the 2024 Fashion Reporting Maturity Index

In the glamorous world of fashion, appearance is everything—or so it seems. However, beneath the surface, the industry's commitment to sustainability reporting tells a different story. 

The 2024 Fashion Reporting Maturity Index provides a revealing look at how well the world's leading high-street fashion brands are documenting and disclosing their environmental and social impacts. 

Our study evaluates 30 major players, uncovering a mix of promising trends and also some gaps that call for an overhaul. 

As fashion continues to influence global markets and consumer choices, understanding the transparency and depth of its reporting practices has never been more crucial. Join us as we delve into our key findings, tell you about how we did it, and explore whether the fashion industry is truly making strides toward sustainability or merely dressing up inadequate practices in a façade of responsibility.

Summary of Key Findings

Our 2024 Fashion Reporting Maturity Index revealed significant areas for improvement in the fashion industry's sustainability reporting practices. In the analysis of 30 leading high-street fashion companies globally, the study found an average maturity score of just 51%. Only three companies—Inditex (including Zara and Massimo Dutti), LPP (including Reserved and Mohito), and the H&M Group—achieved scores above 70%, indicating a good level of reporting maturity.


Key findings include:

  1. Style Over Substance: Reports often prioritise aesthetic appeal over detailed and substantial content, especially in critical areas such as materiality and performance indicators.
  2. Omitted Elements: The absence of external assurance and incomplete reporting frameworks significantly lowered maturity scores.
  3. Lack of a Trendsetter: No single company consistently sets a high standard across all evaluated categories, which hampers industry-wide progress towards better reporting practices.

Additionally, the industry shows promising signs in adopting recognised voluntary reporting frameworks like the Global Reporting Index (GRI) and the Task Force on Climate-Related Financial Disclosures (TCFD), with 83% of companies now tracking their scope 3 emissions—a notable increase from previous years.

Methodology of the Reporting Maturity Index

The Fashion Reporting Maturity Index evaluates companies based on nine critical categories of non-financial reporting: layout and format, business model, materiality, KPIs, conformity to reporting standards, balance, methodology, assurance, and writing. Each category is scored based on a set of quantitative and, where necessary, qualitative criteria.

The methodology is designed to be as objective as possible:

  • Companies were scored using binary (yes/no) questions or percentage calculations.
  • For more subjective categories, such as balance in reporting, assessments were based on Kōan’s extensive industry experience and current best practices in reporting standards like the European Sustainability Reporting Standards (ESRS) and others.

Scores were compiled to provide an overall maturity index, intending to highlight areas of strength and opportunities for improvement across the industry. The index serves as a benchmark for companies aiming to enhance the transparency and effectiveness of their sustainability reporting.

Beyond the runway: realising the promise of sustainable fashion

The 2024 Fashion Reporting Maturity Index shines a spotlight on the urgent need for enhanced transparency and accountability in the fashion industry. While some brands show commendable progress, the overall landscape reveals a lag in adopting comprehensive and meaningful sustainability reporting practices. As consumers increasingly demand ethical production and environmental stewardship, fashion companies must elevate their reporting standards not just to meet regulatory requirements but to genuinely reflect their impact on people and the planet.

The journey towards greater sustainability is complex, but with robust reporting as a foundation, the fashion industry can align more closely with the global goals for a sustainable future, ensuring that they are part of the solution, not just part of the wardrobe!