Vinted Co-Founder Invests €1M to Advance Agricultural Decarbonisation
Summary
Vilnius, 9 October 2023 Following the success in decarbonising the fashion industry, co-founder of pre-loved clothes marketplace Vinted, Mantas Mikuckas, invests 1M Eur to support the green transformation of agriculture. Debt capital will be deployed to small and medium sized farms through the climate tech, HeavyFinance.Agriculture is one of the principal sources of global greenhouse gases, accounting for approximately 22% of total CO2 emissions. HeavyFinance aims to transform this sector by providing Green Loans for the shift to regenerative farming practices.HeavyFinances Green Loans is a debt instrument that enables both retail and institutional investors to tap into a rapidly growing carbon credit market. As we aim to meet the Paris Agreement targets and boost the UN SDGs initiative, its vital for businesses to support one another and set a global example.Mantas Mikuckas, co-founder of Vinted, comments: Knowing how much effort and perseverance is needed to minimise carbon emissions in fashion, I admire how companies like HeavyFinance are championing sustainability ideas in other sectors. The urgent need for decarbonisation possesses a huge opportunity for local communities, businesses and investors.