Global Retailer H&M joins WWF’s Business Leadership Programme Climate Savers
Climate Savers aims to transform businesses into leaders of the low-carbon economy.
Manuel Pulgar-Vidal, leader of WWF’s global Climate & Energy Practice said,
”Acting on climate change is no longer just crucial for the environment; it is also crucial for businesses. Companies have a big contribution to make and are increasingly aware of the impact they have on the planet. That’s why progressive companies – like H&M - are taking bold leadership on climate change, and we welcome them to the Climate Savers programme.”
The Climate Savers/H&M agreement will initially run until the end of 2020. As a Climate Savers company, H&M will focus on reducing its climate footprint through emissions reductions in its entire value chain, and engage in various activities that aim to positively influence the fashion industry as well as policy makers.
WWF supported H&M to develop a new strategy to address climate change which included setting ambitious short and long term targets to address climate impacts through their entire value chain as part of a broader transformational partnership between H&M and WWF. Specifically, H&M has set a short-term 2020 reduction target for their operational impact, and a long-term goal to become climate positive throughout their entire value chain by 2040 at the latest. The long term target means that the company will reduce more greenhouse gas emissions than it its value chain emits.
Pierre Börjesson, Global Sustainability Business Expert at H&M said: “It has never been more important than now to act on climate change. This is why H&M has committed to becoming climate positive by 2040 throughout the entire value chain – all the way from raw material extraction to products’ end of life. This means we will go beyond minimising the negative consequences of our business to create a positive impact on climate. It’s about acting responsibly as a company in this world, and also a way for our business to stay prosperous in the long run. We hope we can inspire more businesses to join us in fighting climate change.”
To become climate positive, H&M will focus on energy efficiency measures and renewable energy investments. To address the unavoidable emissions, H&M and WWF will look at measures to strengthen the planet’s ability to recover and resist climate change, as well as supporting technological innovations to absorb greenhouse gases.
Notes for Editors:
Climate Savers commitments and H&M’s climate targets in short:
- Reduce scope 1 & 2 emissions with 85% by 2020 compared to 2014.
- Reduce the average energy consumption per square meter and opening hours in H&M Group Stores by 25% in 2030, compared to 2016.
- Scaling up its climate policy engagement activities – H&M will actively work to influence and improve climate policies globally and regionally.
- Aligning the targets to for the Science Based Targets initiative, which means setting reduction targets fully in line with climate science.
- Achieve a climate neutral supply chain for tier 1 and tier 2 by 2030 – this means that H&M will support tier 1 and tier 2 suppliers to have a net zero effect on climate.
- Achieve a climate positive value chain 2040 – this means that by 2040, H&M will have reduced more GHG emissions than its value chain is responsible for.
Mandy Jean Woods +27 72 393 0027 firstname.lastname@example.org