How hypocritical is the fashion industry when it talks about sustainable fashion?

It is worth more than three trillion dollars, and makes up about two percent of global GDP! However, the fashion industry requires huge amounts of water, energy and harmful chemicals, which has an extremely negative impact on the environment. More specifically, clothing production is responsible for as much as 10 % of the global carbon footprint, 20 % of wastewater and 35 % of microplastic in the oceans Can an industry that has branded itself through the concept of luxury and dreams, achieve a significant level of sustainability, or are fashion houses and designers just using greenwashing methods? Can a luxury designer piece even be sustainable and how important is that to consumers?