H&M Group Secures 3rd Place In Fashion Revolution's "What Fuels Fashion?" Report

Fashion Revolution has released a special report highlighting the climate and energy-related transparency among fashion brands and retailers. In this report, titled “What Fuels Fashion?”, H&M Group has achieved a notable 61% score, securing the 3rd position out of 250 companies evaluated.

The report assesses several key areas including accountability, decarbonisation efforts, energy procurement, financing for decarbonisation, and advocacy for a just transition. H&M Group’s high score reflects its strong performance in these domains.

While H&M Group is pleased with this recognition, the company emphasizes that transparency is a continuous journey. “Transparency is vital for the industry,” stated a company spokesperson. “We are committed to enhancing our public disclosure across all our sustainability initiatives. If all brands openly shared their decarbonisation strategies and insights, we could make more significant progress. We must be courageous in our efforts to test, learn, and innovate together.”

The group’s Climate Transition Plan, recently unveiled, underscores its commitment to improving climate-related transparency. This plan outlines strategies for meeting the group’s targets, with a focus on energy efficiency and the adoption of renewable energy sources.

H&M Group has set ambitious targets in alignment with science-based goals. By 2030, the company aims to reduce absolute scope 1, 2, and 3 emissions by 56%, with a long-term objective of achieving net-zero emissions by 2040, as defined by the Science Based Targets initiative. This commitment is supported by a reported 22% reduction in scope 3 emissions in 2023 compared to the 2019 baseline.

To advance the decarbonisation of fashion supply chains, H&M Group has introduced several innovative solutions. The Green Fashion Initiative provides funding to factories for investments aimed at reducing energy consumption and transitioning to renewable energy sources. Additionally, the Future Supplier Initiative fosters collaboration among brands to co-finance decarbonisation projects with shared suppliers.

Fashion Revolution, the non-profit behind the Fashion Transparency Index, has created this report as a focused examination of climate and energy-related transparency in the fashion industry.