Hennes & Mauritz AB (H&M) has reaffirmed its commitment to sustainability and strategic growth in its annual and sustainability report for the 2024 financial year, released today on hmgroup.com. A printed version will be sent to shareholders upon request.

CEO Daniel Erver highlighted the company’s progress in integrating sustainability with design and innovation. “Exceptional design and sustainable solutions go hand in hand with our purpose to liberate fashion for the many. Sustainability is fundamental to our operations and long-term success,” he said.

H&M Group also published its sustainability progress report, outlining achievements in decarbonization, material sourcing, and corporate responsibility. The company remains on track to meet its goal of using only recycled or sustainably sourced materials by 2030, with recycled materials already reaching 29.5 per cent, just shy of its 30 per cent target for 2025, a year ahead of schedule.

“We are delivering strong results in reducing emissions and energy use across our supply chain, aligned with science-based targets,” said Leyla Ertur, Sustainability Director.

Key sustainability milestones in 2024 include 89 per cent of materials sourced sustainably or recycled, a 41 per cent reduction in greenhouse gas emissions in scope 1 and 2, and a 24 per cent reduction in scope 3 from the 2019 baseline. The company also achieved a 54 per cent cut in plastic packaging from the 2018 baseline, surpassing its 2025 goal.

The number of garment factories using on-site coal boilers decreased to 27, down from 118 in 2022, with a full phase-out planned by 2026. Freshwater consumption in garment suppliers was reduced by 9.5 per cent, nearly reaching the 10 per cent target ahead of schedule. Second-hand fashion expanded to 26 markets through 38 H&M Group stores and Sellpy.

H&M Group also renewed its Global Framework Agreement with IndustriALL Global Union and IF Metall, protecting over one million workers worldwide.