The Science Based Targets initiative (SBTi) has validated THG's sustainability targets, confirming that they align with the latest climate science, aimed at limiting global warming to 1.5°C above pre-industrial levels.
As part of the SBTi process, THG submitted the following near- and long-term targets:
- Reducing absolute Scope 1 & 2 GHG emissions 42% by 2030 from a 2020 base year.
- 85% of suppliers (by spend and covering purchased goods and services and upstream transportation and distribution) to have science-based targets by 2027.
- Reducing absolute Scope 1 and 2 GHG emissions 97.7% by 2040 from a 2020 base year.
- Reducing absolute scope 3 emissions 90% by 2040 from a 2020 base year.
The SBTi empowers businesses to establish ambitious emissions reduction targets in alignment with the latest climate science. Its primary objective is to encourage ambitious corporate climate action to help halve emissions and reach net-zero by 2050.
Matt Moulding, Chief Executive Officer at THG, commented:
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.
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 2040 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.
This achievement comes fewer than two years after the launch of THG x Planet Earth - THG's ambitious sustainability strategy that covers:
- Protecting Climate and Nature
- Strengthening the Groups Supply Chain and Circularity
- Empowering People and Communities
To learn more about science-based targets and the validation process, get in touch.