H&M Foundation's Global Change Awards charts new innovators. Meanwhile, H&M Group looks to circularity as EU textile regulations close in.
Strategy and looks forward to further engaging with the European institutions on our journey toward a more sustainable fashion industry. Collaboration with others is vital to enable the necessary transformation of the entire industry.”
Acknowledging H&M’s behind-the-scenes policy engagement and recent pilots, the spokesperson said circularity is a “key area of our work,” with a focus on testing new materials, processes and business models like rental, resale and remanufacture.is a prerequisite for the future of our industry,” the H&M spokesperson said. “To be able to operate within planetary boundaries, the sector must decouple its own resource use from growth and a growing population’s demand.
As with the rest of the industry, specific metrics on how H&M is decoupling its resource use remain uncharted. Last year marked the first year that H&M integrated its annual and sustainability reports. The H&M Group’s target is to increase sales by 10 to 15 percent per year with continued high profitability as a long-term target.
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