Swedish fashion giant, H&M has declared its commitment to the EU Commission's Green Consumption Pledge Initiative, which aims to make the fashion sector more sustainable.

Companies can make a public commitment to decrease their overall carbon footprint and develop more sustainable products by signing the pledge. H&M's goal is to become carbon neutral by 2040.

The initiative, which was established in February, asks members to adhere to three of 5 basic principles: carbon emissions, industry best practices, transparency, and the selling of "sustainable" goods.

H&M’s CEO, Helena Helmersson, said the climate problem, as well as the essential restructuring of their business, necessitates that they take significant actions. However, they believe that this can only be accomplished via collaboration with others and the development of forward-thinking solutions at the EU level.

She added by signing the pledge, they want to set an example and contribute to the European Commission's objective of accelerating good change in their industry.

H&M will be required to provide information about its sustainability efforts as well as its circular and climate-positive strategy as part of the agreement. It will also entail establishing clear and visible goals in terms of environmental improvement, consumer communication, and transparent reporting. The company also aims to measure how much carbon its products emit.

Six additional companies have joined the EU Commission's Green Consumption Pledge Initiative, including H&M. Ceconomy, Dancer Bus, Engie, Erste Group, and Philips are among the other companies.

In a statement, Commissioner for Justice, Didier Reynders said he appreciates the promises made by those six companies for specific measures toward increased sustainable production and consumption, beyond what is required by EU law.

Didier added this desire to increase climate action demonstrates the type of effort that European customers expect. Eleven firms have already signed up for the Green Pledge, and he hopes to see much more in the future.