On 27 October, the Hirdaramani Group announced its participation in the Science Based Targets Initiative (SBTi). With this declaration, it formally became a part of an elite group of companies worldwide, which are taking action to limit global warming to 1.5°C above preindustrial levels and prevent the most severe impacts of climate change.

This decision reflects the Hirdaramani Group’s resolve to adhere to the aims of the 2015 Paris Agreement, as detailed in their 2025 Sustainability Roadmap – Future First.

A commitment to acting in a manner that’s consistent with securing a sustainable future is at the heart of the Future First philosophy. It is centred on the organisation’s unshakable focus on minimising its adverse effects on the environment, maximising the potential of individuals and communities, and cultivating an atmosphere of trust in the workplace.

Within the context of the SBTi framework, Hirdaramani has pledged its commitment to achieving short-term goals as well as net zero emissions, and is currently in the process of developing and validating its targets. This will subsequently be completely integrated into the company’s 2025 Sustainability Roadmap.

The Paris Agreement indicates the emission reduction targets that are required to keep global warming well below 2°C above pre-industrial levels and the efforts needed to keep warming to 1.5°C.

CDP, the United Nations Global Compact, World Resources Institute and the World Wide Fund for Nature have joined forces to form the Science Based Targets initiative (SBTi). This initiative will help a business set measurable targets to cut scope 1, 2 and 3 emissions in accordance with a timeline and budget that’s appropriate to its size.

Director of the Hirdaramani Group Nikhil Hirdaramani says that though the organisation has made significant strides in reducing emissions over the years, the company’s commitment to SBTi ensures that its net zero plan is in line with the latest climate science. He affirms that Hirdaramani has never stopped putting the ‘Future First’ ahead of the present, and a significant part of that commitment is embodied in its sustainability road map.

Assistant Manager – Environmental Sustainability Yashinth Wijerathne notes that a sizeable portion of the work that Hirdaramani does is environmentally sustainable and it mainly focusses on reducing emissions.

He explains that the commitment to SBTi is an opportunity to push further, learn more and do more as the company works toward meeting the aggressive emission goals that are necessary for a tangible impact on mitigating the climate crisis.

Wijerathne insists that “the need for change is urgent and this is one more step in the right direction, for us.”

Companies can ensure that their net zero commitments adhere to the required level of scientific rigour needed for decarbonisation as detailed by the Paris Agreement by making a commitment to the SBTi Net-Zero Framework and joining business ambitions for 1.5°C.

The Net-Zero Standard offers a unified, comprehensive and scientifically sound explanation about what net zero means. It provides clarity and assurance to business leaders that their short-term and long-term goals are in line with climate science. And this helps to ensure that the planet will continue to be habitable for everyone.

It is important to note that businesses in the world may now take advantage of the most recent findings in climate research thanks to the work of SBTi. Its core objective is to encourage enterprises to cut their carbon footprint by half by 2030 and become carbon neutral by 2050.

The SBTi establishes standards and advocates for the use of science-based targets. It also provides tools and information to help remove barriers to adoption, and conducts impartial reviews and approvals of organisations’ goals.

Hirdaramani acknowledges: “We have always understood that collaboration on both local and global scales is essential for us to be able to make a true impact on climate change.”

He notes: “This is not a race where one company wins and another loses but rather a race to save our planet – and day by day, the urgency increases. Organisations such as the SBTi assist in creating collaboration, commitment and a feeling of urgency across all sectors while empowering best practices in those areas.”

Hirdaramani elaborates on the significance of this relationship saying it is important that “businesses such as ours take this step in Asian countries and we hope it creates a precedent that many more will follow.”

– Compiled by Fazmina Imamudeen

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www.hirdaramani.com