Climate Policy Engagement Analysis
Climate Policy Engagement Overview: Inditex is actively and positively engaged on climate-related policy, both in its top-line messaging and on specific legislation such as the EU 2040 GHG emissions target. The company retains membership to two industry associations which engage on climate-related policy with predominantly negative positions.
Top-line Messaging on Climate Policy: Inditex is supportive of ambitious climate action in its top-line messaging on climate policy. The company appeared to support the goals of the Paris Agreement in its March 2024 Climate Transition Plan. It’s CEO, Óscar García Maceiras, signed a joint letter in October 2024 supporting more ambitious Nationally Determined Contributions in the build up to COP29. In the same joint letter, the CEO supported GHG emissions reductions in line with the 1.5°C target. Inditex broadly supported the implementation of the EU Fit for 55 Package in a March 2024 joint industry letter.
Engagement with Climate-Related Policies: Inditex takes supportive positions on climate-related policy. In a March 2024 joint industry letter, the company supported a EU 2040 GHG emissions reductions target of 90 to 95% compared to 1990 levels, in line with The European Scientific Advisory Board on Climate Change (ESABCC) recommendations. Inditex stated support for energy efficiency policy in joint letters from October and March 2024. In the same March 2024 joint letter, the company appeared to support government regulation on circular economy, in particular to improve circular product design, reuse, repair and recycling. The company strongly supported renewable energy targets in an October 2023 joint letter sent to Heads of State attending UNFCCC COP28. In its September 2024 Ecosystems and Biodiversity Policy, Inditex appeared to support government interventions to protect and restore forests and other GHG sinks.
Positioning on Energy Transition: Inditex strongly supports the energy transition. It supported a transition to a low carbon economy and “banishing fossil fuels” in a July 2023 publication. Similarly, in a joint letter from October 2023, the company advocated for removing fossil fuel subsidies and repurposing those resources toward clean energy measures. Inditex strongly supported the urgent decarbonization of the power sector through measures such as the transition towards zero-carbon technologies and the full decarbonization of electricity generation in a March 2024 joint letter. The company CEO advocated in favor of specific regulatory measures towards the electrification of transportation, industry, and heating in an October 2024 joint letter.
Industry Association Governance: Inditex has disclosed a list of partnerships on its corporate website, but did not include its membership to BusinessEurope and European Round Table for Industry (ERT), which have active engagement on climate policy in the EU. The company has not published a review of its alignment of positions on climate policy with industry associations.