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Read the textile industry sustainability report. vol.3

I would like to study the current situation of the textile industry in Japan by reading the report of the Ministry of Economy, Trade and Industry, "Blueprint for a New Era" July 2021.

Deepen your understanding by commenting and supplementing excerpts from the report. I would like to read on in style. thank you.

This is the continuation of vol.2.

2. Significance of working on sustainability
In recent years, with the spread of the Internet, smartphones, SNS, etc., individuals have become both receivers of diverse information and senders of information. Also, the concept of CSV (Creating Shared Value) is attracting attention. CSV is a management model that enhances economic value while undertaking CSR (Corporate Social Responsibility) efforts to enhance social value. As social media society and this kind of concept spread, working on sustainability will not only strengthen the management base of companies, but also create great opportunities to develop new markets and transactions. On the other hand, it has been pointed out that developing business without following these trends can be risky.

The spread of SNS will make the business activities of all companies more visible. In their business activities, companies carry out sustainability initiatives based on the SDGs, work to solve social problems on their own, create value and share know-how and skills with the regions where they operate. I understood what it meant.

The concept of CSV is

It was proposed by Harvard University professor Michael Porter in 2011. There are three ways to realize CSV: ``Review products and markets,'' ``Redefine the value chain,'' and ``Create industrial clusters that support the regions where companies are based.''Companies can solve social problems related to their business activities. , and ultimately create value that can be shared with society, leading to the construction of know-how and skills.

What is CSR?

To put it simply, a company tries to solve social problems through donations and social contribution activities and improve its image.

That's all for today.

see you tomorrow. thank you very much.

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