Fossil fuels are so old-fashioned

Lifestyle

Fossil fuels are so old-fashioned

Chanel backs nonprofit that aims to attract investors to help finance projects fostering climate-resilient practices

Michael Taylor

French fashion house Chanel is backing a new climate adaptation fund that aims to raise $100m 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 $25m from luxury brand Chanel and $1.3m 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...

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