Apparel exports from four Asian countries, including Pakistan, are projected to face a significant setback of $65 billion by 2030 due to extreme heat and flooding, as indicated in a report by Cornell University’s Global Labor Institute and Schroders.

The study also examined the supply chains of six undisclosed global fashion brands operating in these four nations. The rising temperatures and increased flooding are estimated to result in a substantial loss of potential export revenues and nearly one million fewer jobs in critical garment-producing regions by 2030.

These countries, which include Pakistan, Bangladesh, Cambodia, and Vietnam, constitute 18 percent of global garment exports.

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Angus Bauer, head of sustainable investment research at Schroders, emphasized the need for investors to collaborate with garment companies and stakeholders to address the significant challenges posed by climate impacts on workers and business models. He noted that the industry’s climate response primarily focuses on mitigation, emissions, and recycling, with insufficient attention given to issues like flooding and extreme heat, which pose substantial risks to brands, retailers, and investors. He stressed the importance of adaptation planning as a complement to mitigation efforts, highlighting its potential positive returns on investment for the industry.

The report also points out that flooding is expected to lead to the closure of factories in these four countries, resulting in a $65 billion reduction in earnings by 2030 and a loss of 950,000 jobs. By 2050, the estimated lost export revenues are projected to reach 68.6 percent, with a staggering loss of 8.64 million jobs.