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STOCKHOLM – Swedish fashion giant H&M has penned an open letter to the Science-Based Targets initiative (SBTi) to express concerns over its controversial 'proposals' to extend the use of carbon credits to offset CO2 emissions in supply chains.

"We firmly believe the priority for any climate strategy should be to take action within corporate value chains to reduce absolute greenhouse gas (GHG) emissions," says the letter from H&M's head of sustainability Leyla Ertur.

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