H&M Group aims to achieve a 56% reduction in CO2e (carbon dioxide equivalent) emissions by 2030 and a 90% reduction by 2040 specifically in Bangladesh.

H&M Group, a renowned fashion retailer, has announced its commitment to reducing carbon dioxide equivalent (CO2e) emissions in Bangladesh. The company aims to achieve a 56% reduction by 2030 and a 90% reduction by 2040.

Bangladesh faces challenges with the reliability of its national grid, which poses difficulties for H&M Group. To overcome this, the company plans to incorporate renewables into the grid, strengthen power distribution, and enable Power Purchase Agreements (PPAs) for factories to maximize the benefits.

In their efforts to reduce CO2e emissions, H&M aims to decrease grid electricity prices, leading to a rapid reduction in natural gas and diesel consumption, which are primarily used for onsite power generation. They also emphasize the adoption of renewable energy sources, improved energy efficiency, and the promotion of circular economy principles throughout their operations and supply chain.

Furthermore, H&M, along with three other companies, has pledged $100 million to support initiatives focused on carbon dioxide removal from the atmosphere. This initiative, launched by major tech companies, aims to promote the carbon removal industry.

The International Energy Agency reports that carbon dioxide emissions from energy production exceeded 36 billion tons in 2022. H&M’s targets for 2030 and 2040 set a new benchmark for sustainability in the fashion industry, paving the way for a greener and more responsible future.

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