H&M Group Inc.

H&M Group Inc., a prominent name in the wearing apparel and furs industry headquartered in the US, has established ambitious climate commitments aimed at achieving net-zero emissions. For the reporting year 2024, the company reported significant Scope 3 emissions, totalling approximately 1.81 billion kg CO2e, and Scope 1 and 2 emissions of about 42.37 million kg CO2e (market-based). In the preceding year, 2023, H&M Group reported approximately 5.49 billion kg CO2e for Scope 3 and around 55.26 million kg CO2e for Scope 1 and 2 (market-based).

The company's overarching goal is to reach net-zero by 2040, with a baseline set in 2019. This involves reducing absolute Scope 1, 2, and 3 emissions by at least 90% by the target year. To achieve this, H&M Group has set a near-term target to reduce its greenhouse gas emissions by 56% by 2030, against the 2019 baseline. As of 2024, the company reported a 41% reduction in Scope 1 and 2 GHG emissions since 2019, primarily driven by an increased use of renewable electricity. The remaining emissions, approximately 10% that cannot be reduced, will be balanced using permanent carbon removals. H&M Group's climate targets are not cascaded from a parent organisation; they are self-established and published by H&M Group Inc.