The first grants from the Apparel Impact Institute Fashion Climate Fund will be awarded through the support of partners including H&M Foundation, H&M Group, Lululemon, The PVH Foundation, Target and the Schmidt Family Foundation.
SUSTAINABILITY
Aii Selects $250M CSP Grant Recipients in Carbon Reduction
The Apparel Impact Institute will deploy its first grants from its catalytic Fashion Climate Fund to recipients from the nonprofit’s Climate Solutions Portfolio, a registry of solutions to reduce the fashion industry’s carbon impact. Grantees for the inaugural disbursement include Precision Development, Deutsche Gesellschaft für Internationale Zusammenarbeit, Made2Flow, BluWin and PwC.
Aii and its philanthropic partners will not only use the fund to provide $250 million but also unlock up to $2 billion in capital for changemakers whose solutions are most promising to accelerate decarbonization. The nonprofit Aii’s goal is to reduce carbon by 100 million metric tons by 2030.
The CSP grants were funded through the philanthropy of the Fashion Climate Fund’s partners, which include the H&M Foundation, H&M Group, Lululemon, The PVH Foundation, Target and the Schmidt Family Foundation.
The disbursement of grants by Aii was performed alongside the launch of its CSP online platform, which is intended to serve as a decarbonization information hub for apparel brands, retailers, industry stakeholders and external commercial financing partners. CSP’s online platform supports transparency through generating standardized data to support decision-making and supply-chain solutions with a registry of programs vetted by Aii in addition to reporting capabilities that include analytics and ROI insight. Aii intends to use the platform to identify the best solutions to ensure the funding and scale of approaches to decarbonization.
Funding for the development of the platform was made possible through contributions from Farfetch, the H&M Group, Lululemon, The PVH Foundation, Ralph Lauren and Target.
The San Francisco–headquartered Aii considers a number of factors, such as effectiveness, reach, scale, and cost when developing the registry. CSP’s advisory council designed the application through the guidance of industry leaders. These experts include Kurt Kipka, Aii chief impact officer; Linda Greer, scientist and consultant; Phil Patterson, managing director at the Colour Connections Textile Consultancy; Beth Jensen, director of climate and impact at Textile Exchange; Crispin Wong, senior director of product sustainability and environment at Lululemon; Mallory McConnell, vice president of corporate responsibility at PVH Corp.; and Abhishek Bansal, head of sustainability at Arvind Mills.
