The H&M Conscious Foundation introduced a new currency, the Unicoin, that can only be spent on educational supplies.
Children, together with their parents, can upload a drawing that shares their dreams for the future to unicoins.org. In return, they’ll receive a Unicoin, representing every child’s right to early childhood development and pre-primary education. H&M Conscious matches each Unicoin with a notebook and pencil.
The initiative is part of the Global Program for Education, a collaboration between the H&M Conscious Foundation and UNICEF that began in February 2014 with H&M Conscious’ grant of $9.3 million over three years. Those funds helped UNICEF reach 73,600 children with early childhood development programs.
One out of three children in developing countries don’t achieve their full potential before starting primary school due to poverty and poor health, according to UNICEF. The organization hopes the grant will also influence governments to make early childhood development a priority.