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ROME (AP) — Thirty-two leading companies in the fashion and textile industry have given themselves a set of shared goals under a "Fashion Pact" aimed at reducing the environmental impact of their business.

The pact focuses on three key areas: global warming, biodiversity and reduction of the use of single-use plastics in the oceans.

Ferruccio Ferragamo, president of Salvatore Ferragamo, said major players were joining forces for the first time to face "the largest environmental challenges of our century."

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Others who signed on include Adidas, Hermes and Nike. The initiative will be presented at the G7 meeting starting in Biarritz on Saturday.

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Remo Ruffini, the CEO of Moncler, said: "We're proud to join the Fashion Pact in the name of a common good that is always greater than any single interest."

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