STOCKHOLM – Swedish fast fashion retailer H&M has used its 20th annual sustainability report to identify climate change as one of its most “most significant risks.” The company’s report notes there is also a ‘High Risk’ of changes in customer attitudes and purchasing patterns due to growing environmental awareness among consumers. The report, which accompanies H&M’s annual report, notes the potential risks around reputation and brand perception for companies which lag on sustainability.
H&M used the Task Force on Climate-Related Financial Disclosures (TCFD) framework – created in 2015 by the Financial Stability Board (FSB) – to assess and present its climate related risks.
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