• Helena Helmersson, CEO of H&M Group, has been appointed Co-Chair of the global CEO-led industry initiative, succeeding The Fashion Pact’s co-founder, Kering’s Chairman and CEO François-Henri Pinault

• The Fashion Pact is calling for a collaborative, ‘whole industry’ approach to rapidly cut emissions across the entire value chain as the initiative aims to contribute to solving industry-wide challenges

• Helmersson, Co-Chair Paul Polman and Executive Director & Secretary General Eva von Alvensleben, alongside CEO members, will continue to build on The Fashion Pact’s strong progress to deliver its goals and ambitions around climate, biodiversity and oceans

The Fashion Pact represents one third of the global fashion industry and is committed to mitigating the impact of climate change, restoring biodiversity, and protecting the oceans. The initiative brings together CEOs and senior leaders to accelerate joint action, from suppliers to retailers, and in its next phase, it will go deeper into the value chain.

Helmersson, CEO of H&M Group, has been appointed as new Co-Chair of the initiative’s Steering Committee. With a background in sustainability and production, Helmersson is succeeding The Fashion Pact’s co-founder, Kering’s Chairman and CEO François-Henri Pinault who remains on the Steering Committee after completing his three-year mandate. Helmersson will be working closely with The Fashion Pact’s co-founder, corporate leader and global advocate for sustainable business, Paul Polman, who has been re-elected as Co-Chair of the Steering Committee for another three years.

Aiming to accelerate and scale the industry’s transition to renewable energy, the protection of biodiversity, and use of sustainable sourcing, The Fashion Pact is now targeting greater progress throughout the value chain. It is calling for a ‘whole industry’ approach to improving fashion’s environmental impact with an increased focus on scope 3 emission reductions. Decarbonizing fashion’s supply chain – where the biggest share of emissions occur – at pace and scale will be critical for brands and players across the sector to achieve their science-based targets.

These efforts will build on the group’s progress* since it was founded in 2020, including:

1 - Accelerating renewable electricity adoption by creating a first-of-its kind Collective Virtual Power Purchase Agreement (CVPPA) in the fashion industry. This project will add over 100,000 MWh per year of new renewable electricity generation to the grid.

2 - Setting an industry biodiversity baseline for companies to measure their impact on nature and enabling the creation of biodiversity strategies. This has resulted in over half of The Fashion Pact members developing actionable strategies.

3 - Improving sourcing pathways and integrating more sustainable materials directly into supply chains.

"I am proud and humbled to take on the role as co-chair of The Fashion Pact and to collectively move our industry closer to a sustainable future. In today’s urgent climate context, we need to work together to tackle challenges that one company alone can’t solve. Now is the time to build on the great progress that has been achieved so far and accelerate emission reduction and decarbonisation activity deeper down the value chain. It is only by coming together we can create real change, and The Fashion Pact’s unique collective power has the ability to accelerate our actions together.”

Helena Helmersson, CEO of H&M Group