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The renowned fashion retailer H&M Group has set a target to cut carbon dioxide equivalent (CO2e) emissions in Bangladesh by 56% and 90% in 2030 and 2040, respectively.
By converting levels of other gases to the equal amount of carbon dioxide with the same global warming potential, a carbon dioxide equivalent, also known as CO2 equivalent, is a metric measure used to compare the emissions from different greenhouse gases on the basis of their global-warming potential (GWP).
The national grid in Bangladesh has recently become less reliable, which is problematic for the company.
The best way for manufacturers to benefit from all of this is through integrating renewable energy sources into the grid, improving power delivery, and permitting PPAs.
Since natural gas is mostly used to generate electricity on-site, which will result in rapid reductions in natural gas consumption as well as diesel, grid energy prices can be reduced as a result of the reduction of CO2e.
Additionally, H&M's operations and supply chain may incorporate the use of renewable energy sources, increased energy efficiency, and the promotion of circular economy ideas.
Prior to this, H&M and three other businesses committed $100 million to the project started by big digital companies to advance the carbon removal sector. This money will go toward efforts to reduce atmospheric carbon dioxide.
The International Energy Agency estimates that the carbon dioxide emissions from energy generation will surpass 36 billion tons in 2022.
In general, H&M's 2030 and 2040 targets establish a new benchmark for sustainability in the fashion sector and pave the way for a greener and more conscientious future.
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