Fashion giants Chanel, Adidas to invest in projects to promote sustainable agriculture, support farmers, say sources
French luxury house Chanel and German sportswear maker Adidas have reportedly announced to support different funds and ventures that have projects related to sustainable agriculture, sources said.
Chanel announced to support a climate adaptation fund that aims to raise $100 million by the year 2025 to invest in sustainable agriculture-related projects to support small-scale farmers in developing countries.
Known as Landscape Resilience Fund (LRF), it has been developed by WWF and Swiss-based social enterprise South Pole and is starting with financial support from luxury brand Chanel and the Global Environment Facility.
Meanwhile, Adidas is reportedly investing in Finland’s Spinnova, a company that makes textile fibre out of wood or agricultural waste, Reuters reported.