Europe's energy crisis is affecting the continent's various industries. After steel mills and aluminium smelters, it is now tearing up the nearly US$400 billion fashion industry. With energy prices soaring to unprecedented highs after Russia’s invasion of Ukraine, industries are grappling to make ends meet. Fabric makers worry they will end up near the back of the line if Europe is forced to ration gas this winter, because their wares as seen as less essential than other energy-intensive industries like metals. Meanwhile, as the energy crisis develops, some investors warn it may stall sustainability efforts. Nils Bolmstrand, CEO of Nordea Asset Management, spoke on this issue.
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