H&M Hennes & Mauritz AB’s annual and sustainability report for the financial year 2024, available on hmgroup.com, has been published.
Daniel Ervér, CEO of H&M Group, said he was proud of the company's efforts to demonstrate exceptional design and sustainable solutions and to 'liberate fashion for the many'.
"Sustainability is a key priority for us, fundamental to how we operate and essential for our long-term success," he said.
"This report shows the result of the work of thousands of passionate colleagues around the world, united not only by our love for fashion and design, but also by our deep commitment to using our power and scale to push the fashion industry towards a more inclusive and sustainable future."
Together with the annual and sustainability reports, H&M Group also publishes its sustainability progress report today. The company reported progress in its strategic priority areas in 2024, advancing the decarbonisation of its supply chain and the use of lower-impact materials without losing track of its commitment to being a fair and equal company. The sustainability progress report is available on H&M Group’s website from today.
"We remain fully committed to our ambitious sustainability agenda," added Leyla Ertur, Sustainability Director H&M Group.
"We are on track to achieve our goal for all our materials to be either recycled or sustainably sourced no later than 2030, and we almost reached our 30 percent goal for recycled materials by 2025 a year ahead of schedule. Our efforts to use less and cleaner energy across our supply chain are also delivering strong results in our decarbonisation journey, aligned with our science-based targets. We are aware of the challenges ahead of us and we remain confident that we are on course to fulfill our sustainability agenda in the years to come."
Sustainability highlights from 2024 include:
- 89 percent recycled or sustainably sourced materials. The share of recycled materials alone was 29.5 percent, almost reaching the company’s 30 percent target for 2025 one year ahead.
- 41 percent reduction of greenhouse gas emissions in scope 1 and 2 and 24 percent reduction in scope 3 (2019 baseline).
- 54 percent plastic packaging reduction (2018 baseline), surpassing the company’s 25 percent reduction target for 2025 ahead of schedule.
- The number of garment suppliers (tier 1 and 2) reporting use of on-site coal boilers decreased to 27 factories, from 46 factories in 2023 and 118 in 2022. The goal is to completely phase out on-site coal by 2026 in our aim to contribute to a fossil-free supply chain.
- 9.5 percent reduction of freshwater consumption in garment suppliers (tier 1 and 2) from 2022 baseline, almost reaching the company's 10 percent target one year ahead.
- 26 markets have now access to second-hand options, available in 38 H&M Group stores worldwide and through Sellpy that offer curated second-hand fashion through pre-loved initiatives.
- H&M Group renewed its Global Framework Agreement with IndustriALL Global Union and Swedish trade union IF Metall, protecting the interests of more than one million workers.
