Do fast fashion brands care about a potential backlash to their business models?

A 2013 file picture shows a woman shopping at H&M on Thanksgiving Day in New York. Photo: Reuters

In its 2021 annual report, Swedish retailer Hennes & Mauritz AB identified one trend as a "high” risk to its business for the first time, higher-risk even than increased energy costs or availability of raw materials.

Should consumers increasingly prefer "products and services with low climate impacts from trusted companies that are seen as leaders in sustainability”, H&M wrote, the company might see a negative impact.