NEWS

Geneva, London, June 6, 2022 - Aura Blockchain Consortium joins the Sustainable Markets Initiative Fashion Task Force, a private-sector coalition aimed at accelerating the transition towards a more sustainable future in the global fashion, textile and apparel sector. The SMI was launched by His Royal Highness The Prince of Wales in 2020, and its Fashion Task Force is chaired by Federico Marchetti, tech entrepreneur and sustainability pioneer. Aura Blockchain Consortium’s technology will help members of the Sustainable Markets Initiative Fashion Task Force achieve their sustainability goals and enhance traceability.

In recognition that consumer interest in more sustainable products is on the rise, the Task Force is focused on unlocking circularity by rolling out a Digital ID, which was launched at the G20 in Rome in October 2021. The Digital ID allows key players in the fashion value chain - including manufacturers, brands, retailers, resellers and recyclers - to provide unprecedented transparency and traceability of the products they sell. It also unlocks new circular services for customers, such as care and repair services, as well as ones focused on resale and recycling.

“We are thrilled Aura Blockchain Consortium is joining the Task Force. Their presence will help to build transparency, innovation and a collaborative spirit within the fashion industry and together we will accelerate our path to sustainability” says Federico Marchetti, SMI’s Fashion Task Force Chair.

“It is a privilege to support HRH The Prince of Wales’ Sustainable Markets Initiative Fashion Task Force along with its members and teams through the Aura Blockchain Consortium’s private blockchain and NFT solutions as we work towards our shared vision to accelerate the transition to a more sustainable future. We are excited to start the collaboration with the Fashion Task Force’s team to push circularity and traceability forward” says Daniela Ott, General Secretary of Aura Blockchain Consortium