H&M has become the second family business to take out an award for social responsibility in business, after Axel Johnson Group took out the inaugural award last year.
Karl-Johan Persson, the third-gen chief executive at Swedish fashion company H&M, was this week presented the Pontus Schultz award by Princess Victoria of Sweden.
The jury said that Persson won the award for improving wages and working conditions in the textile factories in a number of developing countries.