The H&M group has announced that it took first place in a new ranking of fossil-free fashion prepared by the environmental organization Stand.earth. The report assesses the progress brands are making in reducing emissions and moving to renewable energy.
It is not a complete report since it only analyzes the work carried out by 11 companies. But since they own some of the biggest brands on the planet, their work can have a huge impact on the entire industry.
In addition to H&M, they include Puma, Nike, Levi Strauss & Co, Adidas, Gap, VF Corp, Inditex, Lululemon, Fast Retailing and Shein.
H&M Group said it received the highest overall score “due to our leading targets on supply chain emissions and renewable electricity, and for offering the most tangible financial support, supplier commitment and effective supply chain defense.” “.
David Dahl, Group Climate and Nature Director, added: “We are committed to reducing our absolute emissions and achieving net zero emissions by 2040. The results of the Stand.earth report show we are heading in the right direction. But there is still much to do, both as a company and as an industry. By working together, we could have a deeper impact at a faster pace.”
Stand.earth said of the industry as a whole: “The 2023 scorecard found pockets of progress, but found that companies provided little to no detail about the incremental steps they are taking to advance a transition to renewable energy, and a significant financial investment by the majority. of brands was desperately lacking.
“The 2024 Clean Energy Close Up is designed to build on that foundation by providing an in-depth analysis of the tangible progress of 11 of the most influential fashion brands globally. Their performance is measured against the path towards an equitable phase-out of fossil fuels by 2030 based on criteria related to energy efficiency and renewable energy, based on data shared publicly by manufacturers in their supply chains. Detailed recommendations are provided to help correct course and get these industry giants back on track to reduce emissions by 55% by 2030 compared to 2018 levels, while enabling dramatic supply chain transformation. to move away from fossil fuels.”
The 11 companies obtained a score out of 100 in elements such as commitments, transparency, progress towards 2030 and actions/advocacy.
The H&M Group scored a total of 59, which is encouraging but by no means a sign of “job done” on this front. As the company itself said, there is still a lot to do.
Puma was second with 51 points, Nike with 46.5, Levi Strauss well behind with 37.5 and Adidas with 33.5.
The five companies below scored between 14 and 20.5, but in 11th place, Shein was even lower with 2.5.
With the company reportedly planning an initial public offering in the UK this year, its work in this area is likely to come under even closer scrutiny, so it will clearly have a busy time catching up. with their industry peers.
The report says that “Shein's absolute emissions increased by almost 50% (from 6.04 to 9.17 million tons of CO2e) in just one year to 20221, more than the annual emissions of the nation of Paraguay.”
Levi Strauss, Puma and H&M were the only names currently on track to reduce manufacturing emissions by at least 55% by 2030 compared to 2018 levels.
And H&M was the only brand to offer its suppliers subsidies to decarbonize (such as installing rooftop solar panels), but has not yet fully disclosed the impact of phasing out fossil fuels.
None of the 11 apparel giants “explicitly shared a total production volume in tons of their clothing and footwear, which is a critical piece of the puzzle for reducing absolute emissions across the entire supply chain,” the organization said.
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