In its 2021 annual report, Swedish retailer Hennes & Mauritz AB identified one trend as a ¡°high¡± risk to its business for the first time, higher-risk even than increased energy costs or the availability of raw materials.
Should consumers increasingly prefer ¡°products and services with low climate impacts from trusted companies that are seen as leaders in sustainability,¡± H&M wrote, the company might see a negative impact. If H&M were not seen as a climate leader, it could face ¡°reputational risks related to brand perception.¡±
H&M brought the subject up again a few pages later, this time in sunnier terms: ¡°There is an opportunity,¡± the report noted, ¡°for H&M Group to attract more customers by providing a more sustainable and transparent offering.¡±
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