Hirdaramani’s Net-Zero Science Based Targets approved by SBTi

Thursday, 26 September 2024 00:10 - - {{hitsCtrl.values.hits}}

Hirdaramani Apparel is proud to announce that its Net-Zero Science Based Targets have been officially approved by the Science Based Targets initiative (SBTi). Significantly, Hirdaramani is also the first organisation in Sri Lanka to have secured this key milestone.

This achievement underscores the company’s commitment to environmental sustainability as outlined in its ‘Future First’ Sustainability Roadmap 2025 agenda. As part of this commitment, Hirdaramani has set ambitious near-term and net-zero targets applicable to countries within its global footprint, which include Bangladesh, Sri Lanka, and Vietnam.

The near-term targets approved by the SBTi include reducing absolute scope 1 and 2 GHG emissions by 54.6% by 2033 from a 2022 base year, and scope 3 emissions from purchased goods and services by 32.5% by 2033. The net-zero targets include achieving a 90% reduction in scope 1 and 2 GHG emissions by 2050 from a 2022 base year, and a 90% reduction in all scope 3 emissions, including purchased goods and services, capital goods, fuel-and-energy related activities, upstream and downstream transportation and distribution, and business travel, by 2050.

Hirdaramani Group Chairman Vinod Hirdaramani commented: “I am proud to acknowledge this significant milestone in our company’s sustainability journey, where our commitment to reduce our GHG emissions is reinforced by the SBTi’s approval for our Net-Zero Science Based Targets. Since the very beginning, sustainability has been a way of life at Hirdaramani, and a continuous journey of improvement towards doing the right thing. Having recently embarked on an ambitious journey to deliver on our corporate purpose of ‘Continuous Progression, Together’, it feels apt that progression in our sustainability commitments is also recognised at this timely juncture in Hirdaramani’s legacy.”

Future First, Hirdaramani’s 2025 Sustainability Roadmap, is founded on four pillars – Conserve the Environment, Empower our Associates, Support our Communities, and Trust in Good Choices. It outlines a list of environmental, social and governance targets that propel the company’s ambition to be a global benchmark in sustainability.

By understanding the values of its customers, associates, and community, Hirdaramani is working towards strengthening its business in a sustainable and responsible manner. The company is committed to making responsible choices today that will shape a better future for everyone in the long-term.