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Peter Ford H&M Group - Usaid Presentation

H&M Group commits to reach net-zero greenhouse gas emissions by 2040. Near-term targets include reducing absolute scope 1, 2, and 3 emissions by 56% by 2030 from a 2019 baseline. They will also increase sourcing of renewable electricity to 100% by 2030. H&M Group has a $270 million annual budget to decarbonize through green investments, carbon capture, and innovative materials.

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73 views5 pages

Peter Ford H&M Group - Usaid Presentation

H&M Group commits to reach net-zero greenhouse gas emissions by 2040. Near-term targets include reducing absolute scope 1, 2, and 3 emissions by 56% by 2030 from a 2019 baseline. They will also increase sourcing of renewable electricity to 100% by 2030. H&M Group has a $270 million annual budget to decarbonize through green investments, carbon capture, and innovative materials.

Uploaded by

azzahra
Copyright
© © All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
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H&M Group

Peter Ford – Green Investment Specialist

General Information
• H&M Group commits to reach net-zero greenhouse emissions across the value
chain by FY2040 from a FY2019 base year. Near-Term Targets H&M Group
commits to reduce absolute scope 1 and 2 and 3 GHG emissions 56% by FY2030
from a FY2019 base year.

• H&M Group also commits to increase annual sourcing of renewable electricity


from 90.6% in FY2019 to 100% by FY2030.

General Information
What
• Scope 1 and 2 are tiny numbers –
met via PPAs and RECs in retail
markets and for own offices.
• Scope 3 is the main chunk of
work

• 2025 zero onsite coal


• 2030 100% renewable electricity
• 2030 56% cut in CO2e (2019 baseline)

General Information
How
• Coal phase out – replaced with:
• biomass (agricultural waste only)
• Electrification (T1 steam initially)
• Solar thermal (where feasible)
• Grid connectivity and strengthening:
• Support factories to join national grid (Bangladesh, Indonesia, Pakistan)
• Push for PPA frameworks in countries to decarbonize ‘purchased electricity’
• Push for investment in onsite renewables
• Technology:
• How to heat less water, at lower temperatures
• Energy efficiency

General Information
How to pay for this
• H&M Group has $270million annual decarbonization budget
• Green Investment
• Carbon Capture
• Innovative materials

• Green Fashion Initiative (GFI)


• 20 Approved/Funded projects within 2022
• 270,000 CO2e tons avoided
• ~$35million spent – low interest loans and direct grants

General Information

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