The Brenninkmeijer family, founders of C&A, announced the launch of their new foundation, which will combat climate change while addressing the inequality crisis.

The newly created entity, the Laudes Foundation, aims to advance the work of its influential C&A Foundation create “positive change in the global fashion system”.

The Laudes Foundation aims to collaborate with investors to redirect the flow of capital to encourage better business practices, while working with the industries in which the family has expertise to tackle the challenges that stand in the way of a sustainable economy, particularly fashion and the built environment, the family said in a statement.

It hopes that by redirecting the flow of capital in select areas it can encourage good business practices and inspire change.

New measures included designing jeans that could either be recirculated back into industrial processes or fully composted, and awarding $1.42 million to five pilot projects in a bid to boost circular economy practices within the fashion industry.