Fast Fashion Slows Down at H&M
With healthy eating and wellness taking centre stage in 2021, people are incorporating sustainability in their daily lives through recycling, reducing plastic waste and purchasing sustainable clothing.
H&M has issued a 500 million euro sustainability-linked bond which the Swedish fashion giant said will encourage it to meet its previously announced 2025 sustainability targets.
Unlike green bonds, where funds are linked to specific projects, sustainability-linked bonds – which are relatively new additions to the bond market – are coupled to companies meeting several defined sustainability targets.
The targets that H&M Group has committed to achieving by 2025 are: Increase the share of recycled materials used to 30 percent.Reduce emissions from the Group’s own operations by 20 percent. Reduce absolute Scope 3 emissions from fabric production, garment manufacturing, raw materials and upstream transport by 10 percent.
“For H&M Group, sustainability is an integral part of our operations. This type of bond creates a clear and transparent commitment and incentive for the company,” said H&M chief financial officer Adam Karlsson in a statement.
“It is an important step in our continued work to optimise the company’s capital structure, while at the same time providing investors with an opportunity to contribute to positive transformation of the fashion industry.”
H&M CEO Helena Helmersson said: “Our customers are showing on a daily basis that they appreciate H&M Group’s offering with the best combination of fashion, quality, price and sustainability. Today’s successful bond issue is proof that the financial market also values our ambitious sustainability work and we look forward to working together for a sustainable industry.”
The bond will be listed on the regulated market Euronext Dublin and has been placed with the assistance of BNP Paribas, Commerzbank, Danske Bank, SEB and Standard Chartered.
Here’s a highlight of H&M’s sustainability projects over the years
H&M specifically have two main strands to their ‘sustainability’ aims. The first is their Conscious collection of clothing, and second is their clothing recycling service, allowing customers to take old clothing from any brand to their stores to be recycled.
Weekday launches jeans collection made with reborn textile waste
In collaboration with Infinited Fiber Company,H&M Group brand Weekday introduced a limited-edition version of their popular Rowe Jeans, using 100% post-consumer waste to make a completely recyclable, breathable cotton like fabric.The material used to make the exclusive jeans consists of 50% organic cotton and 50% Infinna™, which comes from 100% reborn textile waste. The Infinna™-Rowe jeans are now available in Weekday’s online store and the price is the same as for the conventional model, further establishing the need to democratise more sustainable fashion choices.The Weekday Infinna™ release is a continuation of years of collaboration between Infinited Fiber Company and H&M Group.
H&M releases sustainable fashion line made from fruit and algae
Many people remember Lady Gaga’s controversial jaw dropping meat dress, so when you hear of a dress made out of fruit, your mind is not likely to think of fashionable pieces from H&M. In 2019 H&M will released its ninth Conscious Exclusive line, in partnership with eco textile companies to make cutting-edge food waste clothing technology a global success.The 48-piece line is made from super innovative plant-based fabrics, from a silver jacket made from Piñatex (a.k.a. pineapple leather) to an off-shoulder blouse fashioned from orange peels.
H&M’S Kidswear collection transform plastic bottles into RTW
H&M joined forces with Danone AQUA for the bottle2fashion project, which transforms plastic bottle waste from the shores of Indonesia into recycled polyester. This season bottle2fashion will collect and recycle around 3.5 million PET bottles. For the H&M kidswear collection, the recycled polyester is blended with organic cotton and recycled cotton to create cosy, everyday pieces in fashion-forward colours and silhouettes.The collaboration with bottle2fashion also supports the Indonesian government’s initiative against marine pollution — while also generating local jobs — by collecting PET bottles, sorting, cleaning and shredding them into flakes and then making them into recycled polyester fibres.
H&M’S conscious exclusive explores the beauty of waste
In H&M’s Conscious Exclusive A/W20 collection, is literally creating beauty from waste, the A/W20 collection includes innovative fabrics and processes that transform food crop waste into a natural fibre, fabrics made from sustainably sourced wood pulp or use a unique garment-to-garment process.What’s normally thrown away is purposefully transformed into treasures to be loved and valued, allowing us to appreciate the potential of waste and be inspired by the creativity that comes from having to reuse things.
The materials can be found in womenswear pieces such as opulent evening gowns in black and green jacquard taffeta, yellow jacquard or festooned with dusty green flowers, mingling with voluminous tops and tailored suiting. sAccessories include bold, edgy choker necklaces, earrings and shoe clips in recycled metals and a pair of sunglasses crafted from Made of Air®, a material partly made from waste biomass. The shoes can be worn as both a mule and boot with a removable sock, made from VEGEA™, a vegan leather partly made from wine by-products.