Inditex that posted a better-than-expected 54 percent rise in first-quarter profit, as sales kept pace after a strong 2022, when it outperformed other retailers amid the cost of living crisis, has pledged to reduce its emissions by over 50 percent by 2030.
Inditex that owns Zara has laid out ambitious sustainability goals at its AGM, by announcing to reach net zero by 2040. Inditex also owns Pull&Bear and Bershka said its focus would now be on low impact fibers, Biodiversity and supply chain transparency amid growing pressure to cut waste.
After the AGM its Chief executive Óscar GarcÃa Maceiras admitted that the targets were extremely ambitious, but are a continuation of the work the company has been doing for many years now. The brand’s owner is set to use 40 percent of fiber to come from recycling and 25 percent from sustainable Farming.
The group will also continue to extend its circularity initiatives, such as Zara Pre-Owned, and will support projects that protect and enhance biodiversity. Marta Ortega Pérez told the AGM that the magic of Inditex lies with our team and values, heavily influenced by self-imposed high standards.
The targets are aimed to comply with European Commission regulations that make clothing retailers pay for the waste they produce, arguing that fast-fashion brands.
Inditex announces ambitious sustainability targets
