Target Corporation is joining the $250 million Fashion Climate Fund of the Apparel Impact Institute (AII) as a lead funder.
This is said to spur the Fund’s mission to unite industry stakeholders, mobilise climate action, and meet the fashion industry’s ambition to halve carbon emissions by 2030.
The New Funder: Target Corporation, an original founding member of AII, joins PVH Corporation, Lululemon, H&M Group, H&M Foundation, and the Schmidt Family Foundation, as the latest lead funder.
- Since Target Corporation first started working with AII and its existing programmes, including Clean By Design, the company has engaged more than 100 mills across six countries.
- As a lead funder to the Fashion Climate Fund, Target’s partnership with AII will expand work into more facilities and allot deeper engagement on a range of environmental improvement projects.
New Council: The AII has also established an Expert Advisory Council to direct the funds into existing and new Aii programmes.
- The Council will prioritise projects ranging from early stage concepts to proven solutions ready for scale.
- Members will be announced in early 2023.
Climate Solutions Portfolio: To inform allocation, the Expert Advisory Council will leverage a new Climate Solutions Portfolio, currently in development, which will serve as an online registry of environmental programs and solutions, providing research, tracking, and reporting progress toward industry goals.
- The Portfolio will not only help direct the Fashion Climate Fund, it will also allow fashion and apparel companies to connect to programmes that align with their science-based targets and deliver verified data as validation towards carbon reductions and impact.
