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Benzinga
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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