Marks & Spencer and Oxfam have joined forces to launch the M&S and Oxfam Clothes Exchange, an initiative aimed at encouraging consumers to recycle their garments.

From January 28, shoppers who make a donation of M&S clothing to any of Oxfam’s 790 stores will receive a£5 voucher that can be redeemed against a purchase of£35 or more on clothing, homewares or beauty products at M&S. The exchange will be tested for six months.

M&S chief executive Sir Stuart Rose said: “It’s a triple win – it’s good for customers, good for people in developing countries and good for the environment.”

The news comes on the anniversary of Plan A, which was launched by M&S a year ago. The retailer has produced a report detailing progress to date, in which it says that good progress has been made in implementing many of the actions that were set out. However, it adds that there is still more to be done.