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H&M Global Change Award, H&M, closed-loop economy, eco-fashion, sustainable fashion, green fashion, ethical fashion, sustainable style, fashion philanthropy, eco-fashion competitions, recycled clothing, upcycled clothing, recycled fashion, upcycled fashion, recycled clothes, upcycled clothes, Orsola de Castro, Amber Valletta, Sass Brown, Timo Rissanen

H&M is looking to close the loop on textiles, and it’s willing to pay $1 million to anyone who can achieve it. Announced by the H&M Conscious Foundation, the Swedish retailer’s philanthropic arm, the so-called “Global Challenge Award” is the first initiative of its kind. The goal? To catalyze “green, truly groundbreaking ideas” to protect the planet’s natural resources by lowering fashion’s environmental burden. It’s a publicity coup for the world’s second-largest apparel company, which has been angling itself as the ethical answer to affordable clothing despite lingering questions about overproduction and worker exploitation. The prize will be an ongoing one, with five winners chosen by jury every year.

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