H&M Group’s CEO Helena Helmersson has been appointed co-chair of The Fashion Pact, succeeding the global CEO-led industry initiative’s co-founder, Kering Chairman and CEO François-Henri Pinault.

Pinault had launched The Fashion Pact at the 2019 G7 Summit upon the invitation of French President Emmanuel Macron. The Fashion Pact represents one-third of the global fashion industry and is committed to mitigating the effects of climate change, restoring biodiversity and protecting the oceans. The initiative brings together CEOs and high-level executives to accelerate collective action, from suppliers to retailers, and will delve deeper into the value chain in its next phase. Current members from the wider sporting goods industry include Adidas, Asics, Decathlon, Farfetch, Fusalp, Gap Inc, Geox, Groupe Rossignol, H&M Group, Moncler, Nike, Puma and Safilo Group. Aiming to accelerate and expand the industry’s transition to renewable energy, biodiversity protection and use of sustainable sourcing, The Fashion Pact now targets greater progress across the value chain. It calls for an industry-wide approach to improving the environmental impact of the fashion industry, with an increased focus on reducing Scope 3 emissions. Decarbonizing the fashion industry’s supply chain – where the majority of emissions occur – at pace and scale will be critical for brands and players across the industry to achieve their science-based goals. This effort will build on the progress the group has made since its inception in 2020, including:

  1. 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.
  2. 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.
  3. Improving sourcing pathways and integrating more sustainable materials directly into supply chains.

Helmersson, who co-chairs the initiative with Chairman Paul Polman, a Dutch business leader, climate and equalities campaigner and former Unilever CEO, and Executive Director Eva von Alvensleben, Head of Sustainability Strategy at the Kering Group, pledged to continue building on its progress.

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