According to Woolmark, the program's thirteen science-based projects seek to promote regeneration, lower emissions, and boost output. One of these initiatives, the Woolmark recycled content specification, was introduced in July, and seven of these strategies are currently in action. The company stated five more will be on sale later, DrapersOnline reported.
According to Woolmark, the program will assist partners all the way through the supply chain. It seeks to bring brands, the supply chain, and woolgrowers together.
An insetting plan is one of the upcoming initiatives, according to Woolmark, which would lay the groundwork for a wool insetting market. "Nature-based solutions such as reforestation, agroforestry, renewable energy and regenerative agriculture" is how the World Economic Forum describes insetting. In contrast, companies that engage in carbon offsetting purchase carbon credits in order to offset the greenhouse gas emissions that their operations generate. According to Woolmark, its initiatives will connect woolgrowers with international businesses that use natural, on-farm solutions to help them reach their emission targets.
According to Woolmark, the initiatives will be funded by a combination of cooperative and direct investment. It stated that over AUD$16 billion (£8.3 billion) in capital is allocated to environmental stewardship initiatives worldwide. According to the corporation, this also includes grants and venture funding.
According to Woolmark, the curriculum will not focus on "carbon tunnel vision," but rather on being nature friendly. "Halting and reversing nature loss by 2030, measuring from a baseline of 2020" is the definition of "nature positive." Benefits to livelihood and biodiversity recovery are examples of positive consequences. Net zero and carbon neutral, on the other hand, concentrate on emissions.