The Scandinavian Textile Initiative For Climate Action (STICA)

Climate Action Week
for Fashion & Apparel

The Scandinavian Textile Initiative For Climate Action (STICA)

Climate Action Week for Fashion & Apparel

Show Me The Money: For Financing the Transition

Previous analysis from the Apparel Impact Institute and Fashion for Good estimated the price tag, or to reframe, the economic opportunity, for climate action at one trillion dollars. If financing is crucial for enabling climate action, where do we currently stand and what more is needed? How do we make it happen?
Some of the key questions we covered included:
How much financing has been unlocked to date?
What still needs to be financed and how much is needed?
What instruments or platforms exist today to support the financing needed? How well are they working? What are examples of best practices?
Are current financing models unfair to the suppliers who must implement the changes needed? Who should pay?
Where are the financing gaps and how do we fill them?
What role should legislation play and what specific legislation is needed?
March 19, 2024
13.00-14.30 CET
VIEW RECORDING
Presentation slides
Ryan Gaines, Apparel Impact Institute – Show Me The Money: For Financing the Transition

 

Reference material
Big Closets Small Planet podcast – Climate & The 1 Trillion Dollar Question
Asia Garment Hub white paper – From Catwalk to Carbon
Neutral: Mobilising Funding
for a Net Zero Fashion Industry

Contributors

Ryan Gaines, CFO, Apparel Impact Institute
As Chief Financial Officer, Ryan manages budgeting, financial planning, accounting, grant finance administration, and operations for Apparel Impact Institute. Ryan has more than 10 years of experience in finance, including roles as an investment banking analyst, CFO, and financial consultant.
Kim Hellström, Climate Program Manager, Global Production, H&M Group
Kim is leading the decarbonization agenda within H&M Group’s production organization, responsible for ~70% of the company’s emissions. He has a passion for corporate communication and transparency guided by a strong sense of right and wrong. He has a special interest in corporate greenwashing and the challenges companies have around not misleading their customers or consumers while still being able to talk about progress. Kim is committed to work with people’s mindset and ambitions, aligning these to science, remove fossil fuel from the supply chain and enable H&M Group to achieve net-zero by 2040.
Nishan Walgampaya, Director Finance Operations, MAS Holdings
Nishan began his professional career at KPMG in Sri Lanka and is presently the Director of Finance & Operations at MAS Holdings. Whilst he has played various operational & strategic roles within the organization over the last 20+ years, in his present capacity, Nishan provides leadership to the Finance Function of the Investment & Trading Entities in the Group, driving and supporting investment strategy of the Group whilst ensuring reporting & compliance of entities based out of Singapore, Hong Kong & Sri Lanka. The MAS Holdings Group consists of 50+ entities spanning several geographies globally and is a global apparel-tech conglomerate, setting the industry benchmark for sustainable and ethical manufacturing.

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