Our enterprises' transition to more sustainable and resource-efficient business models benefits the environment while also providing a competitive advantage by reducing costs and increasing sustainability innovation.

The European Commission established a new Circular Economy Action Plan in March 2020, which is one of the primary pillars of the European Green Deal, Europe's new agenda for long-term growth.

The new Action Plan intends to make our economy suitable for a green future, increase our competitiveness while conserving the environment, and provide consumers new rights by implementing measures across the whole product life cycle, including textiles.

In light of this, the COSME program issued a request for proposals on sustainable and circular fashion in 2019. Its overall goal was to boost the European fashion industry's competitiveness while also improving its environmental performance. We can achieve these goals by increasing capacity and assisting small firms (SMEs, designers, and start-ups) in becoming more sustainable and transitioning to a more circular business model.

Here are the four projects funded by EISMEA that were launched in January 2021 and will provide direct support to about 120 promising business ideas in the fashion industry:

- S4Fashion: Sustainability for Fashion Industry
- CirCoAX by CircularInnoBooster: a unique business support platform to boost Fashion & Textile SME transition to regenerative, circular, and sustainable businesses.
- Small But Perfect: accelerating the rise of circular and sustainable SMEs in fashion
- Fashion for Change: Scaling up circular and sustainable fashion innovation

Interested in knowing more? Read the full article here.