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