H&M Foundation - Tackling urgent challenges with anticipatory funding

London, 18/10/2024 (informazione.it - comunicati stampa - ambiente)

Targeting anticipatory measures in climate driven disasters can prevent or ease emergency catastrophes. That is why H&M Foundation now partnered up with Start Network, a global network of more than 100 organisations working together to shift from reactive crisis response to proactive early action, to support their financing mechanism Start Ready. Through Start Ready, funds are prepositioned for crises that happen with regular and predictable patterns of recurrence, like floods, droughts, and heatwaves. Start Ready protects an average of 700,000 people across eight countries annually. This partnership will enhance the capacity and coverage of current hazard preparedness systems in these countries.

Anna Gedda, CEO of H&M Foundation, hopes that this partnership can inspire other funders to invest more in preventive work: "Proactive measures are essential to prepare for, respond to, and recover from catastrophic events. We believe preventive funding can make a significant difference and ensure a safer future for all. We are proud to support Start Network in their vital efforts to prevent and mitigate the negative effects of disasters."

H&M Foundation is privately funded by the Stefan Persson family, founders and main owners of the H&M Group. We use philanthropic resources to find, fund and facilitate disruptive innovations, initiatives and research that enable a socially inclusive and planet positive textile industry. To accelerate the transformation, we take on a holistic and open approach – bringing diverse partners together to co-create, and to share learnings and solutions. The H&M Foundation can also provide emergency relief. For more information visit hmfoundation.com.