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H&M enters into agreement with renewable energy platform

By Rachel Douglass

Oct 8, 2021

Business

Image: H&M Hammersmith store, London

Retail group H&M has formed a long-term partnership with global renewable energy platform, Matrix Renewables, in an agreement that will see the group progress towards its goal to become climate positive.

Signed today, the partnership brings H&M one step closer to adopting 100 percent renewable energy throughout its operations, a goal set in its previously released sustainability manifesto. It additionally stated it was looking to further the use of renewable energy with partners and suppliers.

“We are excited to support the H&M Group in achieving its sustainability goals and we look forward to working closely with the fashion group as it progresses along this journey,” said Luis Sabaté, president and COO of Matrix Renewables, in a statement.

“This initiative is consistent with our beliefs that the development, construction and operation of cost-effective clean energy projects can foster economic growth while preserving the environment.”

The announcement follows a number of sustainable initiatives by the fast fashion retailer, including the introduction of eco-friendly packaging for deliveries and recycled apparel collections, such as H&M’s 100 percent recycled denim line.