Country Road has announced the launch of the Country Road Climate Fund, investing $1.5 million in grant funding to projects driving climate solutions in the Australian fashion industry over the next three years.
Launching today, the fund aims to help accelerate and incubate projects, programs, initiatives or products across the Australian fashion industry that need funding to execute their solutions.
The annual grants program will allocate up to $500,000 in the first year.
Country Road MD Elle Roseby said the fashion industry has a key role to play in addressing climate change.
“Country Road is on its own journey to be a world-leading responsible lifestyle retailer. We have a science based climate target, with a goal to reach net zero by 2040, and by 2030 we aim to have all our Australian and New Zealand stores, as well as our head office and distribution centre, supporting renewable energy.”
“The Climate Fund was created as part of our responsible business journey which strives to drive positive change across climate, nature, and community within its own operations, and also through building positive outcomes in our value chain and beyond.”
Sustainability leader Dr. Helen Crowley is a project advisor on the Climate Fund and part of the assessment committee.
“What makes the Climate Fund so exciting is the recognition of the Australian fashion sector's impact on climate change. It requires pursuing and supporting multiple approaches simultaneously," she said. "This is exactly what Country Road is doing with its new fund that focuses on protecting and restoring biodiversity, supporting Indigenous Peoples and innovating around business models and products."
Country Road’s primary mandate is to invest in projects with a positive climate impact, directly and indirectly reducing greenhouse gas emissions. These include projects that improve energy efficiency in the production of textiles or projects that provide consumers with accurate data on the emissions intensity of different fashion items.
The latest Intergovernmental Panel on Climate Change (IPCC) report noted that without immediate change, the world will miss the opportunity to “secure a liveable and sustainable future for all.”
Country Road brand sustainability manager Fabia Pryor said the fund aimed to address the current climate emergency.
“We know that the fashion industry is a contributor to greenhouse gas emissions and has a key role to play in shaping a better future," Pryor said, "a future that's fair, a future that has a safe climate and a future that has thriving biodiversity. So we really see the Climate Fund as playing an important role, particularly locally, in incubating and accelerating solutions.”
Fabia confirmed while the fund is primarily focused on the fashion value chain, it may extend further in the future and potentially expand overseas.
“At the moment, we've said, 'At least for year one, let's keep this really tight - and let's keep focused on the fashion value chain,’” Pryor said. “We really want to go out quite focused to begin with.
"Then similarly, we have a presence in New Zealand, South Africa. What about those areas? Again, we just said, 'we want to get this really right from the outset.’ So we're keeping it focused on Australia.”
The Climate Fund's project advisor Yatu Widders-Hunt is also pleased with the Climate Fund's focus on Frist Nations-led innovations. She is a proud descendant of the Dunghutti and Anaiwan Peoples from north-western New South Wales and the GM of Indigenous social change agency, Cox Inall Ridgeway.
“I am so proud to see this industry leading initiative, which truly reflects the values of Country Road. What I particularly love is the recognition and respect for the ongoing custodianship of Country from First Nations peoples across Australia. Initiatives like this genuinely support community leadership, foster partnerships and invite innovation and creative thinking.”
Application deadline is Thursday 1 December with grant recipients announced in April 2023.
The Climate Fund is part of Country Road’s existing responsible business journey. This includes partnerships with Landcare Australia to restore Australian cotton farmlands, Oritain to scientifically verify fibre origin, the Darwin Aboriginal Art Fair Foundation to support emerging First Nations artists and creatives, and Red Cross to help divert waste from landfill while raising funds for local communities.