H&M Group has partnered with DBS Bank to launch a green loan program aimed at decarbonizing fashion supply chains, providing suppliers with financing and technical support to make eco-friendly upgrades. This innovative collaborative finance tool, discussed with delegates at COP28, is designed to spur the adoption of sustainable practices and technologies to reduce greenhouse gas emissions in the textile industry. H&M Group’s initiative furthers their commitment to achieving net-zero CO2e emissions by 2040 and highlights the need for shared investment in sustainability.
What is the Apparel Impact Institute Fashion Climate Fund? The Apparel Impact Institute Fashion Climate Fund is an initiative that gathers major industry names to support and finance the innovation of solutions focusing on decarbonizing and modernizing the fashion industry's supply chains. H&M Group is involved with this fund to help speed up meaningful changes within the fashion value chain. Source
What is H&M Group’s approach to sustainability? H&M Group is actively engaged in sustainability efforts, with the goal of decarbonizing its supply chain. The company's sustainability strategies are outlined in the H&M Group Sustainability Disclosure, which showcases their long-term commitments and recent initiatives. Source
How is H&M Group confronting the need for reducing supply chain emissions? H&M Group acknowledges the importance of reducing supply chain emissions as part of their sustainability goals. While investments in carbon credits are one aspect, the larger focus is on implementing direct measures to cut emissions in the supply chain. Source
What is the new circular design tool launched by H&M Group? H&M Group has unveiled a new circular design tool intended to ensure that all its products are designed with circularity in mind. This tool facilitates the creation of products that are meant to last longer and are easier to recycle, thereby contributing to a more sustainable fashion ecosystem. Source
What collaborative efforts are being taken to decarbonize supply chains in the fashion industry? There are numerous collaborative efforts within the fashion industry aimed at decarbonizing supply chains. Initiatives like the Clean Energy Procurement Academy are designed to guide companies, like Nike, on how to address and implement clean energy solutions in their supply chains. These collaborations indicate a growing industry-wide commitment to sustainability. Source