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Benzinga

Business

Shivani Kumaresan

Lululemon, H&M Group Contribute To $250M Fashion Climate Fund

LULU (Organization) Lululemon Athletica Inc

Non-profit group Apparel Impact Institute said apparel retailers Lululemon Athletica Inc (NASDAQ:LULU) and Hennes & Mauritz AB (OTC:HMRZF) were among the lead funders for the new $250 million Fashion Climate Fund.
The $250 million funds will be used to identify, fund, scale, and measure verified impact solutions to decarbonize and modernize fashion industry supply chains.
The Fund is designed to unlock an estimated $2 billion in blended capital in additional asset classes, including debt and equity, to help meet the industry’s ambition to halve carbon emissions by 2030.
Apparel Impact Institute works to operationalize and accelerate climate action and sustainability solutions in fashion.
Price Action: LULU shares are trading higher by 0.66% at $308.22 on the last check Wednesday.

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