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Primark To Launch More New Products To Boost Sustainability, Cut Emissions

Associated British Foods plc (ABF), a multinational food processing and retailing company, Wednesday announced that its fashion retail arm, Primark has adopted a strategy to supply sustainable fashion products to halve emissions and raise recycling to boost sustainability.

The new commitment includes all clothes being made using recycled or more sustainably sourced materials, halving carbon emissions across the value chain and pursuing a living wage for workers in its global product supply chain by 2030.

Primark's sustainability transition is expected to lead to only a modest increase in costs in some areas of the business over the period to 2030, the British group said in a statement.

"We are confident of Primark's ability to mitigate those increased costs without any material impact on its operating profit margin in the short term and without any significant movements in the margin over the longer term," Associated British Foods added.

Additionally, the group believes that Primark Cares is an opportunity to drive further sales growth from both existing and new customers.

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