Beauty and fashion technology group THG has announced that its net-zero targets have been validated by the Science Based Targets Initiative (SBTi), confirming that they align with the latest goal of limiting global warming to 1.5 degrees celsius.
To achieve such a feat, THG completed and submitted its science-based targets (SBTs) at the end of 2022, which included its commitment to reduce absolute Scope 1 and 2 GHG emissions by 42 percent before 2030.
Additionally, the company, which owns the likes of Look Fantastic and Cult Beauty, is also striving for 85 percent of its suppliers for purchased goods, services and distribution to have SBTs by 2027, as well as reducing Scope 1 and 2 GHG emissions by 97.7 percent before 2040.
The current climate science requires for emissions to be halved by 2030, with the goal of reaching net-zero by 2050.
THG first launched its own sustainability strategy in 2021, through which it has focused on three key priorities: protecting climate and nature, strengthening its supply chain and circularity and empowering people.
In a release, Matt Moulding, THG’s CEO, 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."