Lululemon and H&M are backers of $250M fund at decarbonizing the fashion supply chain
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The Apparel Impact Institute announced that Lululemon Athletica (NASDAQ:LULU) and H & M Hennes & Mauritz AB (OTCPK:HNNMY) are two of the lead funders of a $250M fund aimed at identifying, funding, scaling, and measuring verified impact solutions to decarbonize and modernize fashion industry supply chains.
The group said its first-of-its-kind collaborative funding model for fashion between philanthropy and corporate entities could unlock an estimated $2B in blended capital across various asset classes, including debt and equity, with an ultimate industry goal to halve carbon emissions by 2030.
AII said it will continue to convene more lead partners into the fund and grow strategic relationships with investment capital, both commercial lending and private equity.