Zara owner aims to cut value chain emissions by 50% by 2030
Zara owner Inditex has announced new sustainability targets at its AGM as it looks to cut emissions along its value chain by 50% by 2030.
It will also expand its circularity projects and pursue new biodiversity initiatives which will recover and regenerate at least five million hectares in different parts of the world.
The company said it will achieve its goals by using innovative materials, recycled textiles and raw materials that have been grown using organic and regenerative farming practices. It will also continue to extend circularity initiatives such as Zara Pre-Owned.
The meeting also saw shareholders approve the company’s 2022 financial statements and a total dividend of €1.20 per share. They also ratified motions to establish the number of directors at ten and to re-elect Amancio Ortega Gaona as proprietary director and José Luis Durán Schulz as an independent director.
During his evaluation of the past year, Inditex’s chief executive Óscar García Maceiras said: “We have made our company stronger, more efficient and ready to tackle new challenges and achieve profitable and solid growth in very demanding environments.”
Meanwhile, Inditex chairperson Marta Ortega Pérez emphasised the importance of the group’s shared values. She added: “The magic of Inditex lies with our team and values, heavily influenced by self-imposed high standards. The future is not predetermined and we must never forget that.”
