Today we look into other material issues surrounding Environmental Social and Governance (ESG). As climate change remains a global issue for people and businesses, so has it become necessary for a continuous implementation of climate action. In the space of decarbonization and carbon offsetting, as a united front against climate change, H&M Group unveiled its significant initiative aimed at bolstering sustainability across its operations and beyond.
H&M Group has embarked on a transformative journey by partnering with Rondo Energy, a trailblazer in zero-carbon industrial heat and power solutions. This collaboration aims to integrate Rondo Heat Batteries into H&M's global fashion supply chain. These innovative batteries, capable of converting intermittent renewable electricity into consistent high-temperature heat and power, promise to revolutionize textile production.
By potentially replacing fossil fuels, H&M Group anticipates significant reductions in the carbon footprint of its clothing manufacturing processes. As of their 2022 sustainability report, 99% of the groups emission are generated from their Scope 3 value chain activities. Nevertheless, the H&M Group has set for themselves an ambitious target to achieve net zero emissions by 2040, with interim targets to reduce absolute Scope 1, 2 and 3 emissions by 56% by 2030.
Moreover, H&M's strategic investment in Rondo and participation in its Strategic Investor Advisory Board underscore their commitment to scaling low-cost, zero-carbon energy solutions across industries. Meanwhile Eric Trusiewicz, CEO of Rondo Energy, expressed optimism about the partnership, highlighting the alignment of goals between the two entities in leveraging technology for sustainable change.
The initiative comes amid H&M Group's ongoing efforts to transition to renewable energy sources, as it teams up with Bestseller and the Global Fashion Agenda (GFA) to develop the first offshore wind project in Bangladesh to begin streamlining the sector's transition. Marking a pivotal step towards greening their supply chain.
For more information on this partnership read the full details here.
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