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Stock impact report

Carbonfact raises $15m Series A funding for fashion decarbonisation [Yahoo! Finance]

Allbirds, Inc. (BIRD) 
Company Research Source: Yahoo! Finance
The announcement, which comes hot on the heels of the EU passing the Corporate Sustainability Due Diligence Directive (CSDDD) and ahead of the launch of the New York Fashion Act, the SEC Climate Disclosure Rule and the EU's Corporate Sustainability Reporting Directive (CSRD), Carbonfact recognises that to fulfil the new reporting requirements, data has to be manually verified and consolidated across the supply chain and business, which is error-prone and unscalable. Carbonfact also addresses the industry's challenge of collecting accurate and primary data from multiple tiers of the supply chain. In the 18 months since its seed round, Y Combinator-backed Carbonfact has onboarded 150+ apparel and footwear brands including Columbia, New Balance, Carhartt and Adore Me, which announced its partnership with Carbonfact last year. The company saw a surge in demand in Q1 this year, which speaks to the increased regulatory pressure on the textile sector to measure and disclose emissions. Show less Read more
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