H&M Group partners with Matrix Renewables for renewable energy agreement
H&M Group has entered a long-term partnership with renewable energy platform, Matrix Renewables. The collaboration aims to contribute to the continued decarbonisation of Europe's consumer goods sector.
The brand's goal is to become climate positive and use 100% renewable energy in its own operations, along with increasing the use of renewable energy with partners and suppliers.
Luis Sabaté, President and COO of Matrix Renewables, said: "Clothing and textile production can be energy and carbon intensive. We are excited to support H&M group in achieving its sustainability goals and we look forward to working closely with the fashion group as it progresses along this journey.
"This initiative is consistent with our belief that the development, construction and operation of cost-effective clean energy projects can foster economic growth while preserving the environment."
Founded in 2020 by global alternative asset manager TPG, Matrix Renewables focuses on developing, constructing and being long-term owners of renewable energy assets.
This partnership follows the recent announcement of H&M's sustainable fashion collection with actor John Boyega and the introduction of delivery packaging made from recycled or other sustainably sourced materials.