The high street was hit hard by the pandemic, but Swedish fashion giant H&M has used the downtime to invest heavily in its sustainability drive. It is trialing new ways to recycle clothes, cut carbon emissions and promote worker welfare. But the true test will come when the shoppers return. When the pandemic struck, the fashion industry was one of the hardest hit. Zara owner Inditex saw its profits plunge by 70% in the first half of 2020, while H&M reported a record quarterly loss of $620m. In a bid to recover some of the lost ground, brands have doubled down on their online operations, cut back on new stock and heavily discounted unsold items. But H&M has also used the downturn to accelerate plans to revamp its business model, putting sustainability at its heart. .
Fashion’s Fast Fashion Bill: Inside H&M’s Drive to Slash Emissions
