With a new $200 million fund for environmentally responsible companies, Stella McCartney is assisting business owners in creating a sustainable future.
The newly launched program, known as the SOS Fund, intends to assist “cleaner businesses, founders, and sustainable solutions.” These are businesses that provide solutions for materials, food and agriculture, and decarbonization.
McCartney has previously invested in the vegan leather company Bold Threads with money from the fund.
“Beyond her work as an incredible designer and entrepreneur, Stella is a well-known environmental activist, a champion of animal rights, a lifelong vegan, a pioneer in sustainable materials, and an overall cool person,” according to Craig Shapiro, the founder and managing partner at Collaborative Fund, with whom McCartney has partnered for the initiative.
Infinium Global Research estimates that the vegan leather industry could grow to 89.6 billion dollars by 2025.
The effects of leather on the environment
In addition to killing over a billion animals annually, many of which are factory farmed, the production of leather is harmful to the environment.
Large areas of land are used for livestock farming. According to research conducted last year, several fashion companies’ supply networks for leather put them at danger of accelerating deforestation in the Amazon.
Around a third of methane emissions created by humans are also caused by cows. Global warming is primarily caused by farming them. 14.5 percent of the world’s greenhouse gas emissions are attributable to animal agriculture as a whole.
Effects of the SOS Fund
Along with vegan leather, McCartney’s SOS Fund is also looking into beech wood, regenerated nylon, recycled old-stock fabrics, and faux fur that is partially biobased.
Source: “Stella McCartney Launches $200m Investment For Vegan And Sustainable Brands” by Plant Based News
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