Industria de Diseño Textil SA, or Inditex, will completely eliminate the use of plastic bags by 2020 and put an end to all single-use plastics from customer sales by 2023.

Inditex Executive Chairman Pablo Isla disclosed the goal, along with the rest of the company's sustainability initiatives, at the annual general meeting held July 16.

The Spanish retail group, which owns apparel brands like Zara, Pull&Bear, Massimo Dutti and Bershka, said that by 2023, 100% of the waste produced by its head offices will be sent for recycling or reuse and 80% of the energy it uses across its operations will be renewable. The company noted that it is already recycling or reusing 88% of the waste it generates.

In addition, all the cotton, linen and polyester used by Inditex's eight brands will become organic, sustainable or recycled by 2025. Inditex said its Zara, Zara Home, Massimo Dutti and Uterqüe labels no longer use plastic bags across operations.

At the meeting, the company disclosed that its board approved the appointment of COO Carlos Crespo as new CEO.

Shareholders of the retail group approved the re-election of Isla, Amancio Ortega, José Durán and Emilio Saracho to the board, as well as the appointment of Crespo as a director. They also approved the 2018 dividend of 88 euro cents per share.