Grant will help Australia’s woolgrowers set up insetting
Wool promotions body the Woolmark Company has received a grant of AUS $4 million from the Australian government to support a new programme for connecting apparel brands to woolgrowers.
Woolmark has said the programme will provide clothing companies with insetting opportunities.
Insetting is when companies invest in carbon reduction projects in their own supply chains to try to reduce scope-three emissions, those that occur upstream in supply chain.
It will use the new grant to develop and test an insetting framework. This will help woolgrowers set up nature-based solutions for reducing greenhouse gas emissions on their farms.
Managing director of Woolmark, John Roberts, said: “Brands are increasingly seeking ways to address their scope-three emissions, but scaling these efforts has been a challenge. Insetting presents an exciting opportunity for brands to meet their emissions targets in a way that aligns with the science-based targets initiative (SBTi) while simultaneously supporting Australian woolgrowers.”
SBTi is an initiative that has been in place since 2015 to help companies set targets that are in line with climate science and with the Paris Agreement goals to limit the global temperature increase to well under 2 degrees Celsius above pre-industrial levels by 2050.
Mr Roberts thanked the Australian government for supporting “this game-changing initiative”.
