Gildan’s Science-based Emissions Targets Validated by SBTi
August 02 2023 - 3:00PM
Gildan Activewear Inc. (GIL: TSX and NYSE) is pleased to announce
that the Science Based Targets initiative (SBTi) has validated that
the Company's 2030 near term greenhouse gas (GHG) emissions
reduction targets are in conformance with the SBTi Criteria and
Recommendations (version 4.2), marking a significant milestone in
the advancement of the Company's ESG strategy. The SBTi’s target
validation team has classified Gildan’s Scope 1 and 2 target and
has determined that it is in line with a well-below 2ºC trajectory.
“The validation of our emissions targets by SBTi further
reinforces our commitment and builds on our foundation of strong
sustainability practices which include social, environmental, and
economic benefits in the communities where we operate. We
understand the importance of climate change and, over the last
year, we have been implementing our new climate strategy across our
organization in order to make meaningful progress to ensure we
attain our third generation of GHG emissions reduction targets,”
says Peter Iliopoulos, Senior Vice-President, Taxation,
Sustainability, and Governmental Affairs. “This is further evidence
of our genuine commitment to making purposeful advancements by 2030
in line with our Next Generation ESG strategy.”
In 2022, Gildan unveiled its new Next Generation ESG strategy
and targets, which seek to address global environmental and social
priorities and increase the sustainability of products delivered to
customers worldwide. As part of this strategy, Gildan committed to
reduce its absolute Scope 1(1) and 2(2) GHG emissions by 30% by
2030 from a 2018 base year(3). Gildan also committed to reduce
absolute Scope 3(4) GHG emissions by 13.5% by 2030 from a 2019 base
year. Both targets have now been reviewed and validated by the
SBTi.
About SBTi
The SBTi is a global body enabling businesses to set ambitious
emissions reductions targets in line with the latest climate
science. It is focused on accelerating companies across the world
to halve emissions before 2030 and achieve net-zero emissions
before 2050. The initiative is a collaboration between CDP, the
United Nations Global Compact, World Resources Institute (WRI), the
World Wildlife Fund for Nature (WWF), and one of the We Mean
Business Coalition commitments.
About Gildan
Gildan is a leading manufacturer of everyday
basic apparel. The Company’s product offering includes activewear,
underwear, and socks, sold to a broad range of customers, including
wholesale distributors, screenprinters or embellishers, as well as
to retailers that sell to consumers through their physical stores
and/or e-commerce platforms and to global lifestyle brand
companies. The Company markets its products in North America,
Europe, Asia Pacific, and Latin America, under a diversified
portfolio of Company-owned brands including Gildan®, American
Apparel®, Comfort Colors®, GOLDTOE®, Peds®, in addition to the
Under Armour® brand through a sock licensing agreement providing
exclusive distribution rights in the United States and Canada.
Gildan owns and operates vertically integrated,
large-scale manufacturing facilities which are primarily located in
Central America, the Caribbean, North America, and Bangladesh.
Gildan operates with a strong commitment to industry-leading
labour, environmental, and governance practices throughout its
supply chain in accordance with its comprehensive ESG program
embedded in the Company's long-term business strategy. More
information about the Company and its ESG practices and initiatives
can be found at www.gildancorp.com.
(1) Scope 1 refers to direct emissions resulting
from fuels used for stationary and mobile combustion across
Gildan-operated facilities.(2) Scope 2 refers to emissions
resulting from Gildan’s purchase of electricity.(3) The target
boundary includes land-related emissions and removals from
bioenergy feedstocks.(4) Scope 3 relates to emissions generated
from its supply chain.
Investor inquiries:Jessy Hayem, CFAVice President,
Head of Investor Relations(514) 744-8511jhayem@gildan.com |
Media inquiries:Genevieve GosselinDirector, Global
Communications and Corporate Marketing(514)
343-8814ggosselin@gildan.com |
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