Companies

H&M partners up with Matrix Renewables

Oct 15, 2021 Sweden

The Swedish-based fashion retailer has signed an agreement with the platform Matrix Renewables to contribute to the continued decarbonization of Europe’s consumer goods sector and accelerate the energy transition

"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”, commented Luis Sabaté, President and COO of the Madrid-based platform Matrix Renewables.

The long-term agreement will help "H&M reaching its goal of becoming climate positive". The group aims at using 100% renewable energy in its operations and is also expecting to further intensify the use of renewable energy among partners and suppliers.

The announcement of this partnership follows other sustainable initiatives already underway by the fast-fashion retailer. Not so long ago, H&M introduced eco-friendly packaging for deliveries and recycled apparel collections, such as its 100% recycled denim line.

Matrix Renewables

Matrix Renewables is a renewable energy platform created and backed by global alternative asset manager TPG and its more than 11 billion US dollars impact investing platform TPG Rise. Matrix Renewables’ current portfolio is comprised of 1.5 GW of operational, under construction, or near ready-to-build solar PV projects and a further 3.2 GW pipeline of renewable energy projects under development, across Europe, US and LATAM.

Image credits: H&M

Sweden Companies Fashion Partnerships Sustainability