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Designed by the CSP Advisory Council, comprised of industry heavyweights, the portfolio is the first capital deployment from Aii’s catalytic Fashion Climate Fund. The council includes representatives from PVH Corp, Arvind Mills, and Lululemon, among others, Aii said in a press release.
The Aii has revealed its first round of grants through its CSP.
With an aim to direct $250 million towards proven decarbonisation projects, the portfolio intends to unlock up to $2 billion of capital and reduce carbon emissions by 100 million tonnes by 2030.
Aii also plans to focus future grants on thermal energy and energy storage in late 2024.
Aii has also launched a public online platform to serve as a transparent resource for those in the fashion industry looking to expedite decarbonisation efforts. The platform will require organisations to submit verified data demonstrating quantifiable reductions in greenhouse gas emissions.
Precision Development’s Leaf Color Charts project, targeted in India, aims to lower fertiliser use in cotton farming—a significant source of emissions. Deutsche Gesellschaft fur Internationale Zusammenarbeit (GIZ) will implement a solar PV project in Bangladesh to accelerate renewable energy adoption in the textile sector. Made2Flow will offer automated impact reduction recommendations via its software, reducing the need for in-person expert visits. BluWin aims to roll out its Clean by Design framework to facilities in Bangladesh, focusing on energy efficiency. PwC’s Cleaner Production System project will concentrate on Tier 2 and Tier 3 suppliers in India and Bangladesh, targeting untapped energy efficiency potential.
Alongside announcing the grantees, Aii unveiled its Climate Solutions Portfolio online platform. Developed to address the industry’s urgent need for standardised data, the platform incorporates advanced analytics and ROI insights.
Kurt Kipka, Aii chief impact officer, emphasised the platform’s goal to increase transparency and connect solutions to funding. “This platform will allow for greater industry transparency and provide accurate data and metrics,” he said.
Aii’s ongoing commitment includes calls for partners to develop data-driven roadmaps in key areas like thermal energy and energy storage. In the latter half of 2024, the institute plans to focus grant-giving largely on these sectors. Solution providers are encouraged to register on the CSP platform for industry exposure and future funding opportunities.
The CSP platform development was additionally supported by philanthropic contributions from Farfetch, Ralph Lauren, and Target.
Fibre2Fashion News Desk (NB)
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