Energy Efficiency, GHG Emissions, Sourcing Renewables - April 3, 2019
H&M cuts emissions, sets new goals
The H&M Group announced an 11% reduction in CO2 emissions from its operations in 2018. The company also set new goals to reduce the absolute GHG-emissions in the company's own operations by another 40% by 2030. The new goals, which are part of the vision to become climate positive by 2040, were approved by the Science Based Targets Initiative.
In its just-released Sustainability Report, the company noted, “We at H&M Group are determined to take the lead in tackling the challenge of climate change. That means going way beyond simply cutting our emissions, committing instead to make a significant contribution to help our planet stay below the 2°C global warming limit as set by the Paris Climate Agreement.”
The company has set a goal to become climate positive by 2040, which includes everything from raw materials to the consumers’ use of our products. “It means removing more emissions from the atmosphere than our value chain emits. We don’t yet have all the solutions we will need to achieve this goal, but the urgency of imminent climate change means we must start taking bold, decisive action now.”
H&M Group has identified three key priorities related to both their own operations and across their value chain:
- Priority 1 focuses on leadership in energy efficiency to enable the company to use as little energy as possible.
- Priority 2 tackles a 100% renewable energy goal
- Priority 3 targets climate resilience and carbon sinks to address unavoidable emissions and emissions beyond what their value chain is responsible for.
“To tackle the challenge of climate change, we need to collaborate across sectors. For example, by creating energy-efficient products and services, sustainable and innovative material use, and improvements in supply chains,” the report noted.
- H&M Group Partners for Green Loan Program
- H&M Group Issues EUR 500 Million Green Bond
- H&M Group reports decline in emissions, increase in RE
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