Fashion, Home and Panda

Happy Wednesday to my readers. Global news have been all about the US presidential election and economies under-performing. So here’s a little bit of green news to color your week 🍏 

Fast fashion meets sustainability? - SHEIN, the global online fashion and lifestyle retailer, has launched a €250 million Circularity Fund in the UK and the EU. This fund aims to address the environmental impact of fast-fashion by supporting startups and businesses focused on circularity solutions, especially textile-to-textile recycled materials innovation.

SHEIN will also engage in offtake agreements or other partnerships with more mature start-ups in this space. The retailer is inviting businesses, financial institutions, and sovereign wealth funds globally to co-invest in the Circularity Fund.

This is notable move of the Singapore-headquartered giant ahead of its potential Initial Public Offering (IPO) in London, amid criticism of its promotion of throwaway fashion.

We all root for a company with social impact - Lhoopa, a Philippine-based property technology (proptech) start-up, has secured US$80 million in fresh funding.

This transaction represents the largest funding raise for a Philippine start-up to date. Lhoopa enables large-scale development of affordable homes in the Philippines through data, technology, and decentralized approaches. The capital will support Lhoopa to launch green housing options as well as expand in the Philippines and other emerging markets. 🏡 

The funding comprises a combination of equity and debt. Approximately US$20 million contributed by equity investors such as International Finance Corporation and Wavemaker Partners. The remaining US$60 million worth of debt facilities came from institutions like the Asian Development Bank and the US International Development Finance Corporation.

More green waves this way

More delays - Vietnam ministry proposes State-owned enterprises to pilot offshore wind power projects before allowing private sector. But so far, the 3 recommended enterprises rejected this proposal.

Attacks of the EVs - Chinese BYD sets sights on aggressive expansion in Vietnam, directly competing the national brand Vinfast. At a quick glance, this is going to be a loss for the latter.

Panda bonds have nothing to do with pandas - Singapore’s global real asset manager CapitaLand Investment bagged US$275.42 million to reduce energy consumption at its properties.

Coal investment remains a headache for South East Asia - International Finance Corporation being investigated for involvement in Indonesia’s biggest coal complex

Had fun riding the green waves? Hit reply, let us know!

Wish you a wonderful day.