H&M pledges to double energy productivity by 2030
Clothing retail giant H&M has this week become the first international fashion retailer to sign up to The Climate Group's EP100 campaign, pledging to double its energy productivity within the next 13 years.
Building on a sustainability strategy to become ‘climate positive’ by 2040, H&M has made the commitment to double the economic output from every unit of energy consumed. By 2030, H&M plans to build future stores that use 40% less energy per square metre, and by 2025, the firm aims to have all of its supplier partners enrolled in an energy efficiency programme.
“Using less energy and increasing our economic output is a fundamental part of our strategy,” H&M global sustainability business expert Pierre Borjesson said.
“We have long been working to reduce our climate impact and recently launched our new commitment to achieve a climate positive value chain by 2040. This means H&M will support reductions of greenhouse gases (GHG) to a larger extent than what our value chain emits. Two of our key priorities are leadership in energy productivity and using renewable energy throughout the value chain.”
A gradual increase in companies adopting energy productivity within internal business models could reduce the global fossil fuel bill by an estimated £1.8trn and create more than six million jobs globally by 2020, according to The Climate Group.
The business community has been receptive to the EP100 scheme since its launch almost exactly a year ago. The UK’s largest listed commercial real estate company Land Securities pledged to double its energy productivity within 20 years in March, following similar pledges from the likes of cement producer Dalmia Cement and reinsurance firm Swiss Re.
Signing up to the EP100 scheme on the same day as H&M was US-based LED lighting manufacturer Cree, which, through an energy efficiency project, has achieved a fall of 453 tonnes of GHG emissions over the last year.
“H&M and Cree have been taking bold steps on energy productivity and we are delighted to welcome them to EP100 and showcase their ambitions to link smarter energy use with business growth objectives,” The Climate Group head of energy productivity initiatives Jenny Chu said.
“We know that business accounts for about half of the electricity used worldwide, and by focusing on energy productivity outcomes, companies like H&M and Cree demonstrate that corporates can reduce their own energy demand, improve their bottom lines and contribute to hitting the targets of the Paris Agreement.”