Here’s some news from the G7 summit that’s actually worth talking about: this week. French President Emmanuel Macron; who hosted this year’s summit, debuted his new Fashion Pact, a set of shared objectives the fashion industry can work toward to reduce its environmental impact.

The Pact is noteworthy for many reasons. For starters, it’s a first-of-its-kind initiative that’s uniting the biggest names in fashion, many of whom are known, competitors.

Second of all, the Pact revolves around science-based targets in three areas: global warming (the objective is to achieve zero greenhouse gas emissions by 2050 in order to keep global warming below 1.5 degrees Celsius until 2100), restoring biodiversity (with a focus on restoring natural ecosystems and protecting species), and preserving the oceans (namely by reducing the use of single-use plastics).

For most of the signees, achieving the Pact’s goals will require major changes and significant investments. Fortunately, several of these brands are on the right track. Stella McCartney has led the way on eliminating virgin plastic by using recycled polyester and other leftover materials, Zara is shifting its focus onto organic and recycled material, and a host of other brands are sourcing fabrics in a much greener way.