{"id":14691,"date":"2023-12-11T15:21:04","date_gmt":"2023-12-11T15:21:04","guid":{"rendered":"https:\/\/www.esgtoday.com\/?p=14691"},"modified":"2023-12-11T15:21:05","modified_gmt":"2023-12-11T15:21:05","slug":"hsbc-backs-apparel-impact-institutes-fashion-supply-chain-decarbonization-fund","status":"publish","type":"post","link":"https:\/\/www.esgtoday.com\/hsbc-backs-apparel-impact-institutes-fashion-supply-chain-decarbonization-fund\/","title":{"rendered":"HSBC Backs Apparel Impact Institute\u2019s Fashion Supply Chain Decarbonization Fund"},"content":{"rendered":"<!--themify_builder_content-->\n<div id=\"themify_builder_content-14691\" data-postid=\"14691\" class=\"themify_builder_content themify_builder_content-14691 themify_builder tf_clear\">\n    <\/div>\n<!--\/themify_builder_content-->\n\n\n<p>Fashion sustainability-focused nonprofit Apparel Impact Institute (Aii) announced today that HSBC has joined as a philanthropic funder of its $250 million Fashion Climate Fund (FCF).<\/p>\n\n\n\n<p>Launched last year, with lead funders including Lululemon, H&amp;M Group, H&amp;M Foundation, and the Schmidt Family Foundation, the fund seeks to drive actions and solutions supporting the industry\u2019s goal to halve emissions by 2030, with a particular focus on the supply chain, which accounts for the vast majority of the fashion industry\u2019s emissions.<\/p>\n\n\n\n<p>HSBC has pledged an initial $4 million to the fund over the next three years, and will also aim to provide sustainability and trade finance expertise in support of the fund\u2019s objectives.<\/p>\n\n\n\n<p>Jenny McInnes, Group Head of Policy and Partnerships at HSBC, said:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\">\n<p>\u201cAt HSBC we are not only leveraging our philanthropy but also our trade finance expertise to support the apparel sector\u2019s journey to net zero and the decarbonization of trade and global supply chains. Aii play an important role in bringing key stakeholders to design solutions that tackle some of the systemic challenges facing the apparel and footwear industry.\u201d<\/p>\n<\/blockquote>\n\n\n\n<p>AIi also said that it is working on the development of new financial tools aimed at creating incentives through access to more affordable capital for suppliers to undertake decarbonization projects, with a significant grant for the deployment of the tools provided by the Rockefeller Foundation.<\/p>\n\n\n\n<p>Lewis Perkins, President of Aii said:<\/p>\n\n\n\n<blockquote class=\"wp-block-quote\">\n<p>\u201cWe estimate the total cost for the decarbonization of this industry to be $1 trillion between now and 2050 \u2013 the majority of which will go towards capital investment in the supply chain.\u201d<\/p>\n<\/blockquote><span class=\"et_bloom_bottom_trigger\"><\/span>","protected":false},"excerpt":{"rendered":"<p>Fashion sustainability-focused nonprofit Apparel Impact Institute (Aii) announced today that HSBC has joined as a philanthropic funder of its $250 million Fashion Climate Fund (FCF). Launched last year, with lead funders including Lululemon, H&amp;M Group, H&amp;M Foundation, and the Schmidt Family Foundation, the fund seeks to drive actions and solutions supporting the industry\u2019s goal to [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":14692,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"_uf_show_specific_survey":0,"_uf_disable_surveys":false,"footnotes":""},"categories":[12,30],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v21.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>HSBC Backs Apparel Impact Institute\u2019s Fashion Supply Chain Decarbonization Fund - ESG Today<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.esgtoday.com\/hsbc-backs-apparel-impact-institutes-fashion-supply-chain-decarbonization-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"HSBC Backs Apparel Impact Institute\u2019s Fashion Supply Chain Decarbonization Fund - ESG Today\" \/>\n<meta property=\"og:description\" content=\"Fashion sustainability-focused nonprofit Apparel Impact Institute (Aii) announced today that HSBC has joined as a philanthropic funder of its $250 million Fashion Climate Fund (FCF). Launched last year, with lead funders including Lululemon, H&amp;M Group, H&amp;M Foundation, and the Schmidt Family Foundation, the fund seeks to drive actions and solutions supporting the industry\u2019s goal to [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.esgtoday.com\/hsbc-backs-apparel-impact-institutes-fashion-supply-chain-decarbonization-fund\/\" \/>\n<meta property=\"og:site_name\" content=\"ESG Today\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/ESGToday\/\" \/>\n<meta property=\"article:published_time\" content=\"2023-12-11T15:21:04+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-12-11T15:21:05+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.esgtoday.com\/wp-content\/uploads\/2023\/12\/HSBC.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"1129\" \/>\n\t<meta property=\"og:image:height\" content=\"752\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Mark Segal\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@EsgToday\" \/>\n<meta name=\"twitter:site\" content=\"@EsgToday\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Mark Segal\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/www.esgtoday.com\/hsbc-backs-apparel-impact-institutes-fashion-supply-chain-decarbonization-fund\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/www.esgtoday.com\/hsbc-backs-apparel-impact-institutes-fashion-supply-chain-decarbonization-fund\/\"},\"author\":{\"name\":\"Mark Segal\",\"@id\":\"https:\/\/www.esgtoday.com\/#\/schema\/person\/cca7a2b05e3a06d096e5740fb1433a01\"},\"headline\":\"HSBC Backs Apparel Impact Institute\u2019s Fashion Supply Chain Decarbonization Fund\",\"datePublished\":\"2023-12-11T15:21:04+00:00\",\"dateModified\":\"2023-12-11T15:21:05+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/www.esgtoday.com\/hsbc-backs-apparel-impact-institutes-fashion-supply-chain-decarbonization-fund\/\"},\"wordCount\":276,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/www.esgtoday.com\/#organization\"},\"articleSection\":[\"Environment\",\"Sustainable Finance\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/www.esgtoday.com\/hsbc-backs-apparel-impact-institutes-fashion-supply-chain-decarbonization-fund\/#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/www.esgtoday.com\/hsbc-backs-apparel-impact-institutes-fashion-supply-chain-decarbonization-fund\/\",\"url\":\"https:\/\/www.esgtoday.com\/hsbc-backs-apparel-impact-institutes-fashion-supply-chain-decarbonization-fund\/\",\"name\":\"HSBC Backs Apparel Impact Institute\u2019s Fashion Supply Chain Decarbonization Fund - 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