The second "Investing in Climate, Investing in Growth" forum of 2024, hosted by SKK GSB, took place at Sungkyunkwan University's International Hall on the 24th. Nicola Weir, Deloitte Asia Pacific Internal Sustainability and Climate Change Leader, delivered a keynote speech titled "Navigating the Path to Value Chain Carbon Reduction" and engaged students in a lively discussion.

In her speech, Weir noted the rapid development of regulations related to carbon emissions in recent years, emphasizing their strong impact on companies selling products in Europe. She stressed the need for long-term strategies aligned with value chain carbon neutrality, advising companies to envision their desired position 30 years down the road and develop strategies accordingly.

Using the fashion industry as an example, Weir illustrated the concept of value chain carbon neutrality. She highlighted the industry's significant carbon footprint, accounting for 10% of global emissions, surpassing the combined emissions of all international flights and maritime transportation. This, she pointed out, presents a tremendous opportunity for carbon neutralization in the fashion industry.

Weir emphasized the importance of considering carbon neutrality across the entire value chain, from design and manufacturing to distribution. Following her speech, she engaged students in a case study of the fashion industry, examining the value chains of a$3,000 luxury handbag and a $25 handbag.

Deviani, a full-time MBA student who attended the forum, expressed satisfaction with the content, highlighting its relevance to current industry practices and the impressive case study session. Deviani's team, assigned to analyze the value chain of the luxury handbag, explored ways to implement carbon reduction strategies.

"Our team discussed carbon reduction across all stages, from design to distribution," Deviani explained. "While the timeless design of luxury handbags doesn't significantly impact carbon emissions over time, the use of animal leather in the manufacturing process poses a challenge. We suggested improvements in bag materials as a potential solution."

Lucas, another student participant, shared his insights from the forum. "Our team reviewed the value chain of fast fashion handbags," he said. "Through our discussions, we discovered that fast fashion handbags generate a significant amount of leather and fabric waste during the manufacturing process, and we believe this area requires improvement," he argued. He also added, "It was fascinating to learn about the urgency of reducing carbon emissions in the fashion industry and the actions companies should take moving forward."

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