As of 2021, the leather goods market was worth USD 407.92 billion and is expected to grow at a CAGR (compound annual growth rate) of 6.9% by 2030. A consumer driven market, where the demand is on the rise for trendy apparels, the market is one of those sectors where the performance is high. Equally, the industry has high scrutiny in terms of environmental and social responsibility. In terms of environment, the commercial exploitation of natural resources gradually leads to degradation of the environment creating an adverse impact on the environment, where biodiversity is a key impact area.

Why is it important to have ESG?

The abbreviation ESG stands for environmental, social and corporate governance. It is a measurement that takes into account a company's social and environmental impact on the global community. It brings awareness to the different climate issues that are occurring and encourages businesses to adopt practices and policies that are better for the environment. ESG not only helps businesses by attracting a more diverse workforce to bring in new ideas, but it also helps businesses have a greater positive impact on our world.

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