Through Syre, H&M Group aims to contribute to a meaningful shift in the industry by moving away from virgin polyester and the current industry standard bottle-to-textile recycling, known as recycled polyester (rPET), towards a closed loop alternative.
''The new venture Syre is an important next step on H&M Group’s journey to integrate circularity across our business. With this solution to rapidly scale textile-to-textile recycling, we want to continue to drive and inspire more industry players to join us in closing the loop and accelerating the shift towards a more sustainable future.'' - Daniel Ervér, CEO of H&M Group.
H&M Group has also strengthened its recycled material ambition – an important part of the strategy to decouple growth from virgin resource use. H&M Group’s overarching material ambition is to have 100 percent of materials to be either recycled or sourced in a more sustainable way by 2030, with the subgoal of 30 percent recycled materials by 2025. As the company is moving closer to achieving the target of 30 percent recycled materials by 2025, the ambition is to now aim for 50 percent recycled by 2030.