Press release
H & M Hennes & Mauritz AB’s Annual and Sustainability Report 2023 is published
H & M Hennes & Mauritz AB’s Annual and Sustainability Report for the financial year 2023 launched today and is available on the group’s website, hmgroup.com. The report provides the yearly overview of H&M Group’s progress towards its integrated financial and sustainability goals. A printed version will be sent by post to shareholders that have requested it.
The Sustainability Disclosure 2023, which also published today, provides sustainability-related complementary information to the Annual and Sustainability Report. In addition to that, H&M Group will host a webinar at 10.30 CET on 27 March to take a deep dive into the company’s sustainability work during 2023. The webinar will be accessible following this link.
“As the world faces significant social, environmental and economic challenges, continuing to deliver on our business idea of offering fashion and quality at the best price in a sustainable way and staying committed to our journey towards a more sustainable and circular fashion industry is more important than ever. Ambitious and concrete actions to reduce emissions and resource use must go hand in hand with contributing to a just transition for the millions who rely on the fashion industry for their livelihood. These are prerequisites for sustainable growth opportunities and for a continuously resilient business”, says Leyla Ertur, Head of Sustainability, H&M Group.
Some sustainability highlights from 2023 include:
- 22 percent reduction of greenhouse gas emissions in H&M Group’s supply chain and 24 percent reduction of greenhouse gas emissions in its own operations (from 2019 baseline), taking the company closer to its goal to reduce its absolute emissions by 56 percent in scopes 1[1], 2[2] and 3[3] by 2030.
- 85 percent recycled or sustainably sourced materials. H&M Group continued making progress towards its goal for 100 percent of materials to be recycled or sustainably sourced by 2030. The share of recycled materials was 25 percent, a figure the company is aiming to double no later than 2030.
- 29 percent reduction in electricity intensity – per square metre and opening hour – in the group’s stores (from 2016 baseline) achieving and exceeding 25 percent reduction goal seven years early.
- 55 percent plastic packaging reduction (from 2018 baseline). H&M Group also continued working towards its goal to only use recycled or sustainably sourced materials for its packaging by 2030, achieving 79 percent in 2023.
- More than 200,000 workers representing more than 750 supplier factories in H&M Group’s supply chain responded to the worker voice survey, guiding the company towards clear priorities and enabling impactful roadmaps that will lead to more effective grievance mechanisms.
[1] Scope 1 covers all direct greenhouse gas emissions from H&M Group’s own operations.
[2] Scope 2 covers indirect emissions from consumption of purchased electricity, heat or steam used in H&M Group’s own operations.
[3] Scope 3 covers other indirect emissions such as those related to sourcing raw materials, fabric production, garment manufacturing and outsourced transport-related activities.
Contact:
H&M Group Media Relations
Telephone: +46 8 796 53 00
E-mail: mediarelations@hm.com
For more information from the H&M group and press images visit hmgroup.com/media.
This information is information that H & M Hennes & Mauritz AB (publ) is obliged to make public pursuant to the Securities Markets Act. The information was submitted for publication at 08.10 (CET) on 27 March 2024.
H & M Hennes & Mauritz AB (publ) was founded in Sweden in 1947 and is quoted on Nasdaq Stockholm. H&M’s business idea is to offer fashion and quality at the best price in a sustainable way. In addition to H&M, the group includes the brands COS, Monki, Weekday, &Other Stories, H&M HOME, ARKET and Afound as well as Sellpy. For further information, visit hmgroup.com.