The H&M Foundation has announced a significant shift in its overall strategic direction, with a new mission of promoting just and fair climate solutions for the textile industry. The innovation challenge, Global Change Award (GCA) is the first initiative to reflect this shift.
Going forward, the H&M Foundation says that it will focus on supporting the textile industry in halving its greenhouse gas emissions every decade by 2050 while promoting a just and fair transition for both people and the planet.
Therefore, GCA is now seeking innovative ideas addressing different high-emission areas across the textile industry value chain, including sustainable materials and processes, responsible production, mindful consumption and 'wildcards' that support the GCA purpose, says the foundation.
According to the H&M Foundation, today, only a fraction of philanthropic capital is directed to climate.
"The textile industry needs all hands on deck if we are going to meet our climate goals by 2050, and we must ensure this transition is fair for everyone. I really believe that innovation is key to decarbonising the industry and that the Global Change Award can play a role in identifying and growing future changemakers whose ideas can have a transformative impact if given the right support," says Karl-Johan Persson, Board Member of the H&M Foundation.
Since its launch in 2015, 46 innovations have received support and a combined grant of €8 million from the GCA. While it continues to award 10 winners every year, with each receiving €200 000, there are some key updates to align the award, and its Changemaker Programme, with H&M Foundation's new strategic focus, says the foundation.
"While the industry is hungry for innovation, we see that a holistic perspective to decarbonisation is often lacking, and the critical early stages of an innovator's journey overlooked," says Annie Lindmark, the newly appointed Programme Director for Innovation at the H&M Foundation.
"The Global Change Award is now aiming to back a wider range of changemakers with early-stage innovations that can help accelerate the textile industry's path to net-zero and equip them to build solutions that benefit both people and the planet — this is where we as a philanthropy can make a real difference," adds Lindmark.
The textile industry has many innovation challenges and initiatives. However, the H&M Foundation identified a gap in support for innovations at the idea stage, which are often seen as too risky for traditional investors and businesses.
As a philanthropic organisation, the H&M Foundation says that it is more tolerant of risk and can fund and support these high-potential changemakers before they're ready for commercial backing.
According to the foundation, in a departure from an open application system, GCA will now operate a nomination-based process, involving a variety of actors like industry experts, research institutes, brands, garment suppliers, innovators and non-profits. This change aims to discover changemakers who might otherwise be overlooked and to broaden the impact of the GCA.
In addition to financial support, winners will gain access to a powerful network of mentors, collaborators and industry leaders to help bring their solutions to life, says the foundation.
Together with long-term partners Accenture and KTH Royal Institute of Technology, H&M Foundation says that it will invite the winners to participate in a yearlong Changemaker Programme. This programme is designed to elevate their innovations while fostering personal growth and promoting a holistic mindset that avoids "carbon tunnel vision" and encourages solutions that benefit both people and the planet.
The H&M Foundation concludes that the nomination process for the 2025 Global Change Award opens on Wednesday, 23 October, with winners being announced in April 2025.
For more information, visit www.hmfoundation.com. You can also follow H&M Foundation on Facebook, LinkedIn, or on Instagram.
*Image courtesy of contributor