New Look’s gets approval for science-based eco targets
New Look’s ambitions on sustainability have been given a boost, gaining approval from the Science Based Targets Initiative (SBTi) regarding its emissions targets.
This backing “demonstrates New Look’s progress against its ‘Kind To Our Core’ sustainability strategy” launched in January 2022. It also “speaks to the advancement the retailer has made on its targets and commitments since then”, the retailer said.
Aligned to a 1.5C pathway, its objectives include a near-term target to reduce absolute scope 1 and 2 GHG emissions by 42% by 2030, and reduce absolute scope 3 GHG emissions by the same amount and within the same timeframe.
Further, its long-term target is to reduce Scope 1 and 2 GHG emissions by 90% by 2040 and absolute scope 3 GHG emissions by the same amount and within the same timeframe.
Its overall target is to reach net-zero greenhouse gas emissions across the value chain by 2040.
New Look added that over the course of 2024 it will be focusing on its decarbonisation plans, but also across all aspects of ESG.
Sue Fairley, Head of Sustainability at New Look, said: “The approval of our targets by the SBTi has been an aim of ours ever since we launched our sustainability strategy two years ago, so this feels like a milestone moment for us.
“The progress we’re making on ‘E’, the ‘S’ and the ‘G’ – in equal measure – is testament to the strength of our partnerships and the way we are collaborating with others, and we’re excited to be moving towards our SBTi targets at pace”.
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