SBTi assists companies in setting emission reduction targets that are consistent with climate science and the Paris Agreement. It promotes best practices in setting science-based targets and independently assesses them. To accelerate corporate climate action, SBTi is committed to reducing global emissions by more than 50% before 2030 and reaching net-zero emissions by 2050.
Together with SBTi, Stretchline has outlined science-based targets to achieve near-term reductions in GHG emissions for all its seven operations throughout the world- Sri Lanka, China, Indonesia, Mexico, Honduras, the United Kingdom, and the United States. In doing so, the company says it demonstrates its commitment to sustainability and its involvement in global climate action.
Stretchline has set two specific goals for reducing GHG emissions:
- Reduce direct emissions under operational control, scope 1 GHG emissions, and indirect emissions from purchased energy, scope 2 GHG emissions, by 37.8% by 2030 compared to the base year of 2021. The reductions agree with a scenario that limits global temperature increases to 1.5°C, compared with pre-industrial levels.
- Reduce all indirect emissions within Stretchline’s value chain, scope 3 GHG emissions by 25% by 2030 from a 2022 base year. GHG reductions in scope 3 align with a scenario limiting global temperature increases to well below 2°C, compared to pre-industrial levels.
To achieve these goals, Stretchline says it will invest significantly in solar power projects worldwide and pursue operational excellence through technological advances. In addition, GHG emissions reduction will be a priority in the company’s sustainability initiatives.
“At Stretchline, we have always placed responsible manufacturing at the centre of everything we do. Being an ethical, responsible manufacturer is fundamental to any organisation and should be a natural part of its culture,” says Xavier Vidal, Stretchline CEO.
Last month, Stretchline Holdings Ltd acquired Stretchline’s UK and US operations in a move it says will further strengthen its position as the world’s largest manufacturer of narrow elasticated fabric and a major supplier of covered elastomeric yarn, textile coating and bonding solutions.