Fashion label Chanel invests $25 million in new climate adaptation fund

(Reuters, 10 Jun 2021) The Landscape Resilience Fund aims to attract more investors to finance projects that promote climate-resilient agriculture and forestry, and protect natural systems.

French fashion house Chanel is backing a new climate adaptation fund that aims to raise $100 million by 2025 to invest in projects to promote sustainable agriculture, protect forests and support small-scale farmers in developing countries.

The Landscape Resilience Fund (LRF) was developed by green group WWF and Swiss-based social enterprise South Pole and is starting with $25 million from luxury brand Chanel and $1.3 million from the Global Environment Facility.

An independent nonprofit, the LRF aims to attract a further five to 10 additional investors to help finance small businesses and projects that foster climate-resilient agriculture and forestry practices, and protect natural systems.

Martin Stadelmann, a senior director at South Pole, which will manage the LRF, said it was a pioneering way for a major multinational company to invest in adaptation to climate change.