While the report outlines the climate risks facing global luxury fashion companies, it also focuses on the impact of climate change at the very base of the supply chain where raw materials are produced and where the impact will be significant on the natural and agricultural systems that deliver these materials. Current and future climate risks around six key raw materials—cashmere, cotton, beef and calf leather, sheep and lamb leather, vicuña, and silk—are reviewed and presented. Detailed analysis shows that climate change is already having obvious effects on these materials and that this impact is likely to increase over time.