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- H&M Group commits to purchasing 5 million carbon credits to fight Amazon deforestation through the LEAF Coalition.
- Pará, Brazil becomes the first state to sign an agreement supplying forest carbon credits to LEAF.
- H&M targets net-zero emissions by 2040 while supporting global climate goals through nature-based solutions.
H&M Group has taken another bold step in its sustainability journey by participating in a landmark deal to combat deforestation in Brazil’s Amazon region. As part of the LEAF Coalition, H&M Group together with other LEAF Coalition buyers including Amazon, Bayer, BCG and Capgemini have committed to purchasing 5 million emission reduction credits, directly supporting efforts to preserve the critical ecosystems in Pará, Brazil.
“We are excited to be among the first companies to support the fight against deforestation in the Amazon with the LEAF Coalition and the deal with Pará in Brazil. Protecting tropical forests offers one of the biggest opportunities for reducing emissions in the coming decade, and we are proud to be a part of it,” said Leyla Ertur, Director of Sustainability, H&M Group.
This initiative is part of H&M’s broader strategy to achieve net-zero emissions by 2040. While H&M’s primary focus is reducing greenhouse gas emissions across its supply chain, it recognizes the importance of supporting external nature-based solutions like the LEAF Coalition. The coalition, backed by governments from Norway, the UK, and the US, aims to mobilize large-scale financing to combat deforestation in tropical regions.
Pará is the first Brazilian state to sign an agreement to supply forest carbon credits through LEAF. This partnership emphasizes the necessity of halting deforestation to limit global warming to 1.5°C. The Amazon rainforest plays a vital role in stabilizing the global climate, and its protection is key to preventing dangerous tipping points that could worsen climate change.
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The deal was announced during Climate Week NYC, where H&M’s sustainability team, alongside global leaders, gathered to discuss climate action and their collective progress towards a sustainable future.
“At H&M Group, we recognize the deep connection between biodiversity and climate. This is why we follow a holistic approach working towards our goals to achieve net-zero emissions and contribute to the global goals of biodiversity,” Ertur added.