THG net-zero targets get validated by official body
To gain validation for its near and long-term targets from the SBTi, THG has committed to reduce absolute Scope 1 and 2 GHG emissions 42% by 2030 from a 2020 base year
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THG, the global proprietary technology platform specialising in taking brands direct to consumers, announced the validation of its net-zero targets by the Science Based Targets Initiative (SBTi).
The SBTi has confirmed that THG’s sustainability targets align with the latest climate science, aimed at limiting global warming to 1.5°C above pre-industrial levels.
As part of the SBTi’s requirements, THG successfully completed and submitted its science-based targets (SBT’s) at the end of 2022.
Matt Moulding, chief executive officer at THG, said: “THG has taken a significant stride forward as our net-zero targets have been officially validated by the SBTi. Two years ago, we signed a commitment letter with the SBTi stating that we would be aligning our climate mitigation targets with the latest science.
“Today, the validation of our net zero targets by the SBTi reaffirms our dedication to achieving a net-zero status as a company, minimising our climate impact.”
To gain validation for its near and long-term targets from the SBTi, THG has committed to reduce absolute Scope 1 and 2 GHG emissions 42% by 2030 from a 2020 base year.
THG also commits that 85% of its suppliers by spending covering purchased goods and services and upstream transportation and distribution will have science-based targets by 2027.
Lastly, the group commits to reduce absolute scope 1 and 2 GHG emissions 97.7% by 2040 from a 2020 base year and to reduce absolute scope 3 emissions 90% within the same timeframe.
The SBTi is a global body dedicated to empowering businesses to establish ambitious emissions reduction targets in accordance with the latest climate science. The SBTi’s primary objective is to encourage ambitious corporate climate action. The current climate science dictates that emissions need to halve by 2030, and reach net-zero by 2050.
Mark Jones, chief sustainability officer at THG, added: “THG recognises the importance of achieving rapid and substantial emission reductions to cut global emissions in half by 2030 and reach net-zero under the Paris climate agreement.
“Since the launch of our sustainability strategy in 2021, we have implemented near-term and long-term company-wide emission reductions in line with the latest climate science.”
