The Apparel Impact Institute (Aii) has announced that the PVH Corp Foundation has become the latest investor in a 250 million dollar fund dedicated to tackling the climate crisis.
Announced by Aii in June 2022, the Fashion Climate Fund sets out to identify, fund, scale, and measure verified impact solutions to decarbonise and modernise fashion industry supply chains.
The PVH Foundation, which leads the global philanthropic efforts of PVH Corp, joins other big-name fashion companies to back the fund, including Lululemon and H&M Group, which have each committed 10 million dollars to the cause.
PVH, which owns brands Tommy Hilfiger and Calvin Klein, said the investment underscores its belief that Aii is “a critical partner and intellectual clearinghouse that will help reach the fashion industry's 2030 climate goals”.
PVH chief executive Stefan Larsson said in a release: “Our company's purpose, to power brands that drive fashion forward for good, is at the core of our multi-year growth plan and has guided us for many years.
“We know that collaboration and funding are critical to driving solutions that address the fashion industry's contributions to climate change and are proud to be supporting the Fashion Climate Fund in this work.”