This comprehensive report by the Ellen MacArthur Foundation lays out a vision for a circular fashion economy where clothes are designed to last, be reused, and ultimately recycled into new garments – eliminating waste and pollution. It highlights the inefficiencies of the current system, with less than 1% of clothing is currently recycled into new garments, resulting in over $100 billion USD in lost materials annually. Four systemic shifts are proposed to address this: phasing out harmful substances and microfibre pollution, transforming design and use models, radically improving recycling, and shifting to renewable inputs. Backed by over 40 global brands and institutions, this report calls for coordinated industry action to unlock economic, environmental, and social benefits.