MAS
MAS Furthers Sustainability Journey, Commits to Net-Zero Emissions by 2048
Global apparel & textile conglomerate MAS Holdings is looking to further its sustainability efforts, recently announcing that it has committed to reducing its total greenhouse gas emissions (GHG) to net zero by 2048. This goal involves working collaboratively across its global operations and value chain to cut emissions across the value chain and neutralize what remains, bringing down the overall impact of MAS’ emissions.
The bold new target, verified by the Science Based Targets initiative (SBTi), is part of a broader series of commitments taken on by MAS under its group-wide sustainability strategy, the MAS Plan for Change.
Addressing this development, Chief Executive Officer of MAS Holdings, Suren Fernando stated: “Today’s climate disruptions remind us that our ability to thrive tomorrow depends on how boldly we act now. The approval of our Net-Zero and Near-Term goals by SBTi is pivotal to our climate journey and an affirmation of the real action we are taking to protect the planet while safeguarding our business and the livelihoods within our ecosystem. We are proud to be part of a global movement taking science-based action to build a resilient, net-zero future.”
Considered the most widely recognized and rigorous framework for corporate climate action and the global effort to limit global temperature rise to 1.5°C above pre-industrial levels, SBTi’s validation of MAS’s near-term and long-term targets also marks a significant milestone for the Sri Lankan apparel sector.
MAS’ Science-Based Targets Overview
As part of this effort, MAS will cut absolute Scope 1 and 2 greenhouse gas emissions by 80% by 2030, using 2019 as the base year. The company has also pledged to reduce Scope 3 emissions, which include purchased goods and services, upstream transportation and distribution, business travel, employee commuting, downstream transportation and distribution, processing of sold products and investments by 46.2% within the same timeframe.
Looking further ahead, MAS will reduce Scope 1 and 2 emissions by 90% by 2040, and Scope 3 emissions by 90% by 2048. These targets cover MAS’ full value chain and are designed to drive measurable progress across the business and its wider ecosystem.
This commitment builds on the MAS Plan for Change, the company’s sustainability strategy that guides its work across product innovation, social impact, and environmental responsibility.
The SBTi is a collaboration between Carbon Disclosure Project (CDP), the United Nations Global Compact, the We Mean Business Coalition, the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF) that enables companies and financial institutions worldwide to play their part in combating the climate crisis. The group develops standards, tools, and guidance that allow companies to set greenhouse gas (GHG) emissions reduction targets in line with what is needed to keep global heating below catastrophic levels and reach net-zero by 2050, at latest.
