Swedish brand H&M's CEO Helmersson new co-chair of The Fashion Pact

Helmersson will be working closely with The Fashion Pact’s co-founder, corporate leader and global advocate for sustainable business, Paul Polman, who has been re-elected as co-chair of the steering committee for another three years, the H&M Group said in a press release.

Aiming to accelerate and scale the industry’s transition to renewable energy, the protection of biodiversity, and use of sustainable sourcing, The Fashion Pact is now targeting greater progress throughout the value chain. It is calling for a ‘whole industry’ approach to improving fashion’s environmental impact with an increased focus on scope 3 emission reductions. Decarbonising fashion’s supply chain—where the biggest share of emissions occur—at pace and scale will be critical for brands and players across the sector to achieve their science-based targets.

The Fashion Pact, established in 2020, has initiated a Collective Virtual Power Purchase Agreement (CVPPA), adding 100,000 MWh annually of renewable electricity to the grid. It has also established a biodiversity baseline, leading to actionable strategies from over half of its members, and promoted sustainable materials in supply chains.

“I am proud and humbled to take on the role as co-chair of The Fashion Pact and to collectively move our industry closer to a sustainable future. In today’s urgent climate context, we need to work together to tackle challenges that one company alone can’t solve. Now is the time to build on the great progress that has been achieved so far and accelerate emission reduction and decarbonisation activity deeper down the value chain. It is only by coming together we can create real change, and The Fashion Pact’s unique collective power has the ability to accelerate our actions together,” said Helmersson.

“I am delighted to hand over to an experienced leader like Helena Helmersson with a unique perspective on sustainability in the fashion supply chain. Together, we have made significant progress since 2019, when President Macron asked me to bring together the global fashion industry—from creating a Collective Virtual Power Purchase Agreement to accelerate renewable electricity adoption, to creating shared tools and guidance on delivering positive biodiversity outcomes. I look forward to continuing to work with all fellow members to build on our achievements and drive meaningful change towards a nature-positive, net-zero future,” said Pinault.

The Fashion Pact represents one third of the global fashion industry and is committed to mitigating the impact of climate change, restoring biodiversity, and protecting the oceans. The initiative brings together CEOs and senior leaders to accelerate joint action, from suppliers to retailers, and in its next phase, it will go deeper into the value chain.

Fibre2Fashion News Desk (NB)