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STOCKHOLM Mitch Morse Jersey , Aug. 1 (Xinhua) -- Swedish clothing company H&M was acknowledged by an industry organization as the biggest user of certified organic cotton, demonstrating the company’s commitment to sustainable productions, the company said in a press release on Friday


According to the Textile Exchange’s latest Organic Cotton Market Report 2013, H&M is ranked top on the list of the companies that used certified organic cotton last year. H&M said that the company’s usage of organic cotton increased 29 percent last year Chris Jones Jersey , and is committed to use more in future.


Textile Exchange is a non-profit organization whose mission is to “inspire and equip people to accelerate sustainable practices in the textile value chain.” It focuses on “minimizing the harmful impacts of the global textile industry and maximizing its positive effects.”


“We are very proud of this achievement and we have set a clear goal to further increase our usage of certified organic cotton. This is part of our strategic target to use only more sustainable cotton by 2020,” says Henrik Lampa, H&M’s Environmental Sustainability Manager.


H&M was established in Sweden in 1947. It has a wide product range that is divided into a number of different concepts for women, men Travis Kelce Jersey , teenagers and children.


According to its official website, the company has more than 104,000 employees and around 2,800 stores in 48 markets Justin Houston Jersey , including franchise markets.


South Korea unveiled a $40 billion stimulus package Thursday as the finance minister warned of a risk of recession after the economy grew at its slowest rate for more than a year in the second quarter.


Citing sluggish domestic demand in the wake of a devastating ferry disaster in April, the finance ministry cut its forecast for economic expansion in 2014 to 3.7 from 4.1 percent.


The stimulus plan of 41 trillion won ($40 billion) includes 11.7 trillion won in expanded fiscal spending and 29 trillion won in extra financing support.


The lion's share will be spent in the remainder of this year, with 3.0 trillion won earmarked for the beginning of 2015, the ministry said in a statement.


"Our economy now stands at a critical crossroads between making a leap forward and falling into a recession Laurent Duvernay-Tardif Jersey ," Finance Minister Choi Kyung-Hwan was quoted as saying by the Yonhap news agency.


"A slump in domestic demand is deepening, and the economy is losing its momentum," Choi said. "The new economic team will do its utmost to break this slumping domestic demand cycle and stabilize people's livelihoods."


The government also said it would ease mortgage rules and provide tax benefits for businesses that use their cash reserves for wages and dividends in order to spur economic activity.


"We will run our fiscal stance in an expansionary manner during the second half and in 2015 so as to consolidate the base for economic recovery," the ministry statement said.


"The expansionary stance will be in place until its impact materialises Kareem Hunt Jersey ," it added.


The stimulus package was announced just hours after the central Bank of Korea