SAN FRANCISCO - The non-profit Apparel Impact Institute (Aii) has revealed the first five beneficiaries of grants from its Fashion Climate Fund - supported by Target, Lululemon, H&M and the Schmidt Family Foundation - to help meet the industry's goal of reducing carbon emissions by 100 million tonnes by 2030.
The programme aims to provide $250 million to help "de-risk and accelerate proven decarbonisation solutions", which in turn, is expected to unlock up to $2 billion of further capital.
Kurt Kipka, Aii's chief impact officer, told Ecotextile News: "We are pleased with the progress in developing the application and grant management process as well as the progress we have made on the tool itself.
"We received very diverse applications in scope and quality so we are working to make our funding thesis more concrete to make sure we receive the types and quality of applications we want in February 2024 which is when the next round opens."
