Looper Textile Co. is a standalone joint venture owned 50% by H&M Group and 50% by Remondis. Looper intends to collect, sort and sell used and unwanted garments and textiles and thereby extend the highest use of these valuable resources. We are excited to announce the launch of Looper Textile Co. Used and unwanted garments must first be collected and sorted into different streams, such as by type of material or garment, in order to be reused or recycled. Today, less than 40% of used clothes are collected in the…
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H&M Group is using its influence to push for mandatory biodiversity disclosure targets
WWF’s latest Living Planet Report has once again highlighted the need for urgent action to mitigate the global loss of biodiversity. Since 1970, wildlife populations have declined on average by 69%, and around 1 million species are already at risk of extinction. For more than a decade, H&M Group and WWF have been working collaboratively on creating a more sustainable fashion industry. The partnership encompasses the interconnected areas of water, climate and biodiversity. This week, experts, policy makers and other stakeholders meet in Montreal, Canada for COP15, the UN Biodiversity…
Read MoreH&M Group further invests in the decarbonisation of its value chain
The 27th United Nations Climate Change conference (COP27) is the annual milestone for the most influential leaders in climate action from governments, business and the climate community. Working towards its ambition to achieve net-zero by 2040, H&M Group joined the international forum in Sharm El Sheikh, Egypt to build momentum for collaborative action and share about the company’s progress and challenges. We have been engaged in climate mitigation for years and continuously push ourselves to demonstrate climate leadership within our industry. Our recently strengthened climate goals are verified by the…
Read MoreLarge scale study from IKEA and H&M Group shows potential to transform the way we use recycled textiles
Through a broad industry collaboration, Inter IKEA and H&M Group have been able to create a large-scale databank to understand potentials and challenges with recycled textile from a chemical contamination perspective. Inter IKEA Group and H&M Group will now use these findings to increase knowledge around chemical content in recycled textiles and to impact legislation around circular economy. To reach both the companies’ ambitions aiming for only using renewable and recycled materials by 20301, a key step is to find clean and reliable sources of recyclable materials. To tackle these industrywide challenges,…
Read MoreH&M Group’s sustainability work attracts bond market attention
H&M Group has issued a EUR 500 million sustainability-linked bond with a maturity of 8.5 years. The annual coupon rate is 0.25 percent. The bond generated great interest and was 7.6 times oversubscribed. Sustainability-linked bonds are something new on the bond market. In contrast to green bonds, where the funds are linked to specific projects, sustainability-linked bonds are coupled to the company meeting a number of defined sustainability targets. “For H&M Group, sustainability is an integral part of our operations. This type of bond creates a clear and transparent commitment…
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