The announcement follows the official endorsement of MAS Holdings’ net-zero and near-term objectives by the Science Based Targets initiative (SBTi), which signifies that MAS’ targets are in line with the stringent SBTi Corporate Net-Zero Standard.
It also supports the goal of capping global temperature increases at 1.5°C above pre-industrial levels, said the company.
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SBTi, a partnership involving the Carbon Disclosure Project (CDP), United Nations Global Compact, We Mean Business Coalition, World Resources Institute (WRI), and World Wide Fund for Nature (WWF), creates standards, tools, and guidance, enabling businesses to establish greenhouse gas (GHG) emissions reduction targets.
MAS Holdings chief executive officer Suren Fernando said: “Today’s climate disruptions remind us that our ability to thrive tomorrow depends on how boldly we act now. The approval of our Net-Zero and Near-Term goals by SBTi is pivotal to our climate journey and an affirmation of the real action we are taking to protect the planet while safeguarding our business and the livelihoods within our ecosystem. We are proud to be part of a global movement taking science-based action to build a resilient, net-zero future.”
The climate action targets set by MAS cover all emissions related to the company’s global apparel ventures.
These targets include near-term goals to slash absolute Scope 1 and Scope 2 emissions by 80% by 2030 from a 2019 baseline, alongside a 46.2% reduction in absolute scope 3 emissions within the same period.
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By GlobalDataLong-term goals include to cut absolute scope 1 and 2 emissions by 90% by 2040 from a 2019 baseline, and a similar reduction in scope 3 emissions by 2048, said the company.
The validation of these targets by SBTi is a key component for the company in fulfilling its sustainability strategy, MAS Plan for Change.
The MAS Plan for Change outlines initiatives across product innovation, social impact, and environmental responsibility. These initiatives are designed to transform apparel and textile manufacturing practices, integrating sustainability at every stage.
MAS Holdings employs over 100,000 individuals globally and operates in 13 countries. It offers an extensive range of products including intimate wear, sports apparel, athleisure, swimwear, and is venturing into new areas such as wearable technology and logistics.
Earlier this year, MAS revealed plans to open its first facility in Bhuinpur, Odisha, India by 2026.
