Good Energy, Good Water, Good Materials, Good Lives and Good Economy. Meet these Five Goods and clothing and textile manufacturers in India, Bangladesh, Vietnam – and other parts of Asia – can open the door to long-term support from the Good Fashion Fund.
The textile industry has long-been a big polluter. Responsible for 10% of global CO2 emission and 20% of water waste, it needs a drastic makeover.
And today’s announcement that Rabobank has become an investor in the Good Fashion Fund is a another sign things are heading in the right direction. Rabobank joins Laudes Foundation (formerly C&A Foundation) and the Mills Fabrica as current co-investors of a fund concentrated entirely on accelerating the adoption of innovative solutions in the fashion industry.
“Good Fashion Fund accelerates the positive changes that the sector and supply chain require and can serve as a catalyst for the industry. Rabobank is proud to support the fund as one of the cornerstone (debt) investors, which underpins our mission: Growing a better world together,” said Bas Rüter – Global Head of Sustainability Rabobank.
With Rabobank’s new investment the fund, started by Fashion For Good, and run by Amsterdam-based impact investment firm FOUNT, now sits at $19M of its US$60M target size.
The fund will invest in small to medium manufacturers advancing fair working conditions in energy-efficient environments that use closed loop processes. Larger manufacturers are also eligible if they are ‘investing in early stage and highly disruptive technologies’.
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