18 Apr 2023 --- Environmental organization Canopy has landed US$60 million in financing from the non-profit funding initiative The Audacious Project. The grant will be invested in scaling fiber-based materials for packaging, F&B and fashion brands, of which over 900 major businesses like Ben & Jerry’s, LMVH and H&M Group are a part. Canopy works to divert pulp and paper production away from ancient and endangered forests, instead promoting “NextGen” materials created from landfilled waste and agricultural residues. The new funding will completely eradicate the use of ancient and endangered forests for packaging production and avoid emissions rates similar to that of Germany, claims the organization.
