The Apparel Impact Institute (Aii) is calling for applications for the Climate Solutions Portfolio, a planned registry of proven carbon reduction solutions for the fashion industry. Aii will use the portfolio as a data-backed tool to deploy grants from the Fashion Climate Fund, which launched in June 2022 with the goals of raising $250 million to accelerate decarbonization solutions, unlock up to $2 billion of capital and help to halve carbon emissions by 2030.
This first round of applications, which will be open through March 2023, is focused on solutions for materials, product innovations, energy efficiency improvements and coal phase-out via renewable thermal heat and renewable energy. Organizations must submit high-quality, verified data or estimates that demonstrate quantifiable reductions in greenhouse gas emissions from their solutions using Aii’s rigorous, strategically developed intake application.
“Some of the biggest industry challenges for effective carbon reduction are identifying science-based solutions, ensuring they are credible and prioritizing them for widespread adoption,” said Kurt Kipka, Chief Impact Officer at Aii in a statement. “Our aim with the Climate Solutions Portfolio is to complement our current global efforts and find, fund and report on climate impact solutions in a consistent, transparent way.”
Beginning in June 2023, the Climate Solutions Portfolio will begin to distribute grants, estimated to range from $50,000 to $250,000 per year, based on effectiveness, reach, scale and cost. This will represent the first deployed capital from the Fashion Climate Fund, which includes Target, PVH Corp., lululemon, H&M Group, the H&M Foundation and The Schmidt Family Foundation as lead funders.
Other efforts to address apparel’s environmental impact include the Sustainable Apparel Coalition, which launched a program in May 2021 to share environmental impact data about products, beginning with their materials content.