To address the risk challenges of supply chain finance in the sustainable transformation of the textile and leather industry, this study systematically integrates ESG factors into the risk assessment framework, uses the AHP-FAHP hybrid method to quantitatively analyze the financial risks of the fashion textile and leather supply chain, and highlights the unique intersection of fashion-specific risks, digital transformation, and ESG integration. Based on survey data from 18 interdisciplinary experts, the weight ranking of the four risk dimensions is identified: supply chain agility risk (41.54%) > market volatility risk (32.03%) > financial instrument risk (14.34%) > corporate credit risk (12.09%). Among them, the sharp increase in environmental material certification costs (risk score 4.61/5.0), the social media trend volatility of Xiaohongshu (4.28/5.0), and the valuation volatility of digital fashion NFT-based collateral (3.78/5.0) are the key risk points. The study shows that the textile and leather supply chain finance is generally in a high-risk state (3.56/5.0), and ESG compliance costs have become an unignorable industry-wide risk with systemic propagation effects in the fashion textile and leather supply chain. This study develops three actionable decision-making tools-1) a tiered risk assessment matrix for fashion SCF, 2) an agility risk mitigation investment framework, and 3) ESG-integrated pricing models—providing concrete recommendations including digital twinning adoption, nearshoring strategies, and green finance product innovation to balance sustainable development and risk control and highlights the unique intersection of fashionspecific risks, digital transformation, and ESG integration.

fashion industry, supply chain finance, risk assessment, AHP-FAHP, ESG integration