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H&M Group and Bangladesh Together for Sustainable Garment Industry
Here's an article by the H&M Group. According to the article:
- The CEO of H&M Group visited Bangladesh to discuss garment industry development with Prime Minister Sheikh Hasina and State Minister Shahriar Alam.
- H&M Group and Bangladesh Garment Manufacturers and Exporters Association(BGMEA) signed a partnership agreement to promote a circular and climate-neutral garment sector.
Let us also look at the other initiatives the H&M Group is doing to promote sustainability:
- H&M Group and Bestseller joined forces with the Global Fashion Agenda (GFA) to develop Bangladesh's first offshore wind project, co-investing over $100 million in the project
- H&M Group has partnered with Reverse Resources, a textile-to-textile recycling platform, to map the flow of post-industrial textile waste in Bangladesh and identify opportunities for circularity. The company aims to use 30% recycled content in its products by 2025 .
- H&M's Green Fashion Initiative offers technical support and financing to suppliers who want to reduce their carbon footprint and adopt more sustainable practices. As of 2022, the company had achieved a 7% reduction in Scope 3 emissions compared to a 2019 baseline, with a goal of a 56% reduction by 2030 .
