Helena Helmersson, CEO of H&M Group has been appointed the Co-Chair of the global CEO-led industry initiative The Fashion Pact succeeding its co-founder, Kering’s Chairman and CEO François-Henri 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.
“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,” Helmersson said.
Helmersson, Co-Chair Paul Polman and Executive Director & Secretary General Eva von Alvensleben, alongside CEO members will continue to build on The Fashion Pact’s strong progress to deliver its goals and ambitions around climate, biodiversity and oceans.
Efforts will build on The Fashion Pact’s since it was founded in 2020, including accelerating renewable electricity adoption by creating a first-of-its kind Collective Virtual Power Purchase Agreement (CVPPA) in the fashion industry. This project will add over 100,000 MWh per year of new renewable electricity generation to the grid. Setting an industry biodiversity baseline for companies to measure their impact on nature and enabling the creation of biodiversity strategies. This has resulted in over half of The Fashion Pact members developing actionable strategies. Improving sourcing pathways and integrating more sustainable materials directly into supply chains.
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