Coats Group plc, the world’s leading manufacturer in thread and structural components for apparel and footwear and an innovative pioneer in performance materials, has received validation of its ambitious long-term science-based emissions reduction targets, including verification of the Group’s net-zero targets for 2050, by the Science Based Targets initiative (SBTi).
Following previous SBTi approval of Coats’ initial near-term targets for 2030, the SBTi has now also evaluated Coats’ scope 1, 2 and 3 long-term target ambition and determined that the long-term targets are aligned with the SBTi’s 1.5oC mitigation pathways for reaching net-zero by 2050 or sooner.
This latest independent verification is a further key milestone in the Group’s sustainability strategy and demonstrates significant progress in the Group’s commitment to achieve its 2050 net-zero targets across the value chain.
Coats’ validated long-term and net-zero targets include:
- Coats commits to reduce absolute scope 1 and 2 GHG emissions by 90% by 2050 from a 2019 base year.
- Coats also commits to reduce absolute scope 3 GHG emissions by 90% within the same timeframe.
- Coats commits to reach net-zero greenhouse gas emissions across the value chain by 2050.
Rajiv Sharma, Group Chief Executive, said: “With the validation of our long-term science-based emissions reduction targets by SBTi, we affirm our unwavering commitment and dedication to driving impactful change in our journey towards net zero. Sustainability is an integral part of all decision-making at Coats, and we are proud of our progress to date. We will continue to innovate, collaborate, and lead the way to mitigate climate change.”
As part of Coats’ materials transition programme of moving to recycled or bio-based raw materials, the Group inaugurated its Sustainability Hub in Madurai, India, in 2023. Together with the Sustainability Innovation Hub in Shenzhen, China, Coats is embarking on a transformative sustainable product offering to help brands and retailers fulfil their net-zero goals.
The 2023 Sustainability Report, published in March 2024, demonstrated the Group’s first year of delivery against its recently set 2023 to 2026 targets, with continued strong progress against its overarching Sustainability Strategy launched in 2019.
To read the 2023 Sustainability Report in full, please click here.
ENDS