H&M CSR
H&M is one of the largest fashion companies in the world that designs and sells men’s, women’s, and children’s clothing, as well as homeware and accessories. It began as a Swedish women’s wear store in 1947 and has evolved into five brands, encompassing about 2,800 stores in 48 countries on four continents, and employing over 94,000 people worldwide1. H&M strives to produce increasingly sustainable fashion while making it accessible and affordable to individuals all around the globe by pursuing growth into new markets such as Malaysia and Latvia in 2012 and Serbia and Lithuania in 20132.
H&M’s sustainability program, “H&M Conscious,” integrates corporate social responsibility with their corporate values and makes sustainability a core tenet of their quality concept. H&M is intent on confronting existing challenges in the fashion industry, including wage and labor conditions at supplier factories, climate change, and the availability of natural resources because their consumers are showing increased interests in sustainability. This simultaneously strengthens H&M’s offerings to consumers, while engaging the morality appeal, enhances its reputation, and fosters license-to-operate, as well as instills a triple bottom line of economical, social, and environmental sustainability2. In 2010, H&M developed seven strategic long-term commitments and associated “Conscious Actions” targeted to help H&M progress toward fulfilling their overall sustainability vision. These commitments, each with their own performance targets, include the following: “providing fashion for conscious customers; choosing and rewarding responsible partners; being ethical; being climate smart; reducing, reusing, and recycling; using natural resources responsibly; and strengthening communities”2. Understanding the interdependence of “people, planet, and profit” as being crucial components to long-term success, H&M has interwoven these commitments into their business strategy and each stage
H&M’s sustainability program, “H&M Conscious,” integrates corporate social responsibility with their corporate values and makes sustainability a core tenet of their quality concept. H&M is intent on confronting existing challenges in the fashion industry, including wage and labor conditions at supplier factories, climate change, and the availability of natural resources because their consumers are showing increased interests in sustainability. This simultaneously strengthens H&M’s offerings to consumers, while engaging the morality appeal, enhances its reputation, and fosters license-to-operate, as well as instills a triple bottom line of economical, social, and environmental sustainability2. In 2010, H&M developed seven strategic long-term commitments and associated “Conscious Actions” targeted to help H&M progress toward fulfilling their overall sustainability vision. These commitments, each with their own performance targets, include the following: “providing fashion for conscious customers; choosing and rewarding responsible partners; being ethical; being climate smart; reducing, reusing, and recycling; using natural resources responsibly; and strengthening communities”2. Understanding the interdependence of “people, planet, and profit” as being crucial components to long-term success, H&M has interwoven these commitments into their business strategy and each stage
Cited: “H&M in Bangladesh.” H&M: Nov 16, 2012 2013. Retrieved from http://about.hm.com/content/hm/NewsroomSection/en_us/NewsRoom/NewsroomDetails/Collaboration-with-UNICEF.html “H&M First Fashion Company to Launch Global Clothes Collecting Initiative.” H&M: Dec 6, 2012 “H&M Joins The Fair Wage Network – Initiative to Promote Better Wage Practices in Global Supply Chains.” Webwire: Sept 2, 2011 “Visit to Cambodia.” H&M: October 4, 2012. Web. Accessed 27 January 2013. Retrieved from http://about.hm.com/content/hm/NewsroomSection/en_us/NewsRoom/NewsroomDetails/Sustainability-Update2.html