Hugo Boss has invested in a climate-first venture capital fund. Credit: Photo by Jaap Arriens/NurPhoto via Getty Images.

Other top X posts last week came from Protein evolution’s collaboration with Stella McCartney for a recycled collection and the European Commission giving the green light to Ecodesign for Sustainable Products Regulation.

As discussions at COP28 continue, the Textile Exchange Materials Market Report hopes to guide the textile industry’s efforts to align raw material production and limit temperature rise to 1.5 degrees Celsius.

Claire Bergkamp, CEO at Textile Exchange, underscored the urgency and said: “As global leaders come together at COP28, this report only reinforces the urgent need to double down on our collective efforts to accelerate the adoption of production practices that support our planet, its ecosystems, and its communities while focusing internal investment on strategies that decouple value creation from the extraction of new materials overall.”

Biological recycling company Protein Evolution debuted a parka garment at COP28 that was created using its Biopure technology and designed by luxury fashion brand Stella McCartney.

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Protein Evolution created the parka by transforming rigid packaging and industrial textile waste into textile-grade polyester. The polyester was then spun into yarn and woven into new fabric by Stella McCartney’s team.

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Meanwhile, the European Parliament and the Council have reached a provisional agreement on the Ecodesign for Sustainable Products Regulation which promises to redefine product standards and make sustainable products the “new norm” in the EU.

Ecodesign for Sustainable Products Regulation builds upon the success of the Ecodesign Directive, which has played a key role in enhancing energy efficiency across EU products for nearly two decades.

The legislation empowers authorities to progressively establish performance and information requirements for key products entering the EU market.

Unlike its predecessor, the new Ecodesign for Sustainable Products Regulation expands its focus beyond energy efficiency, emphasising circularity.

Luxury fashion brand Hugo Boss has claimed to be the “first company” to invest in Collateral Good Ventures Fashion I, a climate-first venture capital fund designed to accelerate sustainability in the fashion industry.

The brand explained the fund will use its contribution over a period of five years to subsidise several portfolio companies that are in the startup, early growth and potential stages, and are developing innovative sustainability solutions and technologies.

This includes various areas along the entire value and supply chain, such as upcycling of raw materials, preventing microfibre release as well as repair and care solutions.

Hugo Boss pointed out the purpose of this initiative is to subsidise the growth of these companies and further strengthen its commitment to a more sustainable future.

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