$250m climate fund to invest in technologies that reduce fashion’s emission footprint

Apparel Impact Institute, a non-profit group that advocates for climate action in the fashion industry, has announced the lead funders for a $250m Fashion Climate Fund. The goal of the fund is to deploy capital into solutions that have the scope to decarbonise the industry at scale. According to the announcement, the funding model is collaborative and "is designed to unlock an estimated $2bn in blended capital in additional asset classes, including debt and equity, to help meet the industry’s ambition to halve carbon emissions by 2030". Funders include apparel companies Lululemon and H&M Group in addition to the Schmidt Family Foundation.