Clothing retailer H&M is sponsoring a $1 million challenge to anyone who can figure out a sustainable way to close the loop on textiles. A closed loop clothing manufacturing scenario involves recycling old and unwanted clothing into new materials, which are then used to produce new garments and a “zero waste” textile industry. Several clothing manufacturers are attempting closed loop practices in part of their clothing lines, or with certain fabrics, but the H&M Conscious Foundation’s Global Challenge Award is being put forward to drum up some even more ambitious innovations. The foundation will award five prizes each year on an ongoing basis to foster creative solutions that will help reduce the negative environmental impact of the textile industry and hopefully cut costs as well. Read on to learn more about the challenge.