The H&M Group is a multinational clothing company. The Swedish retailer is known for “fast fashion,” which is clothing that is made and sold cheaply. The company has shops in 75 locations worldwide with 4,702 stores, although they are marketed under different brands. The company positions itself as a leader in the area of sustainability. Its goal is to be carbon positive by 2040. In the nearer term, it wants to reduce its emissions by 56% by 2030, using 2019 as a baseline, and to make its clothing using sustainable components.
Furthermore, H&M established an internal price on carbon in 2021. It aims to reduce its Scope 1 and 2 greenhouse gas emissions by 20% by 2025. Those emissions fell by 22% between 2019 and 2021. Scope 1 comes from owned and controlled sources, while Scope 2 comes from those sources of energy it purchases from others.
Also, by 2025, it wants to cut its Scope 3 emissions or those that emanate from its suppliers. Those emissions dropped by 9% between 2019 and 2021.
Meanwhile, it produces its clothing with sustainable components such as organic cotton and recycled polyester. It aims to make all of its clothing using recycled components by 2030. It says it is 65% of the way there now.
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