The Americas Act earmarks billions of dollars to support businesses involved in resale, waste sorting and recycling as part of a wider move to reduce America’s reliance on Chinese manufacturing.
Following a sharp decline in 2022, investment in new eco-materials like plant-based leathers and bioengineered silks and wools grew nearly 10 percent last year, a new report found.
The change distances the initiative from a greenwashing scandal focused on its Higg sustainability tool and signals an expanded focus beyond fashion.
Stand.earth has asked Canada’s competition watchdog to investigate whether the company’s sustainability messaging misleads consumers.
The move builds on an ongoing relationship between L’Oréal and Miu Miu sister brand Prada, which launched a skincare and makeup line last year.
The environmental organisation, which works with companies including Adidas and Dior to recycle plastic pollution into products, is launching an investment arm to push new materials innovation.
The French luxury group has already experimented with the start-up’s mushroom-derived leather alternative, releasing a Balenciaga coat made from the material in 2022.
The textile recycler has plugged a liquidity crunch with around $10 million in short-term loans, from investors and banks including retailer H&M.