“We are grateful to the government of Bangladesh for their kind support to hold this dialogue, for their presence here today as we seek for solutions, looking at how can make the transition quicker, what are available tools and mechanisms in the context of Bangladesh as a leader in RMG sector and how can we design policies that drive innovation, that provide incentives to invest, and create a level playing field as needed,” says Lindita Xhaferi-Salihu Fashion Industry Charter Lead, UNFCCC.

At the closing of the event, it was clear that while many challenges lay ahead, the transformation of the energy market in Bangladesh requires all parties to work together proactively in developing new frameworks in order to proceed faster and meet our climate ambitions. All eyes will be put on the next UN Climate Change Conference (COP28) in which public and private sectors from all industries will have to respond on the progress of their climate ambitions towards 2030.

H&M Group’s priority is to reduce its absolute emissions by 56% by 2030 – in line with its approved science-based target. In addition, the company has a goal to source 100% renewable electricity to run its operations and supply chain by 2030. H&M Group is committed to be part of the solution when fighting climate change and collaborating with others. The company also works to drive the agenda forward for new frameworks enabling additional renewable electricity into the grids.