Hayleys Fabric commits to SBTi to limit global warming | Sunday Observer

Hayleys Fabric commits to SBTi to limit global warming

8 November, 2020
Rohan Goonetilleke
Rohan Goonetilleke

Hayleys Fabric, has become one of the first textile manufacturers in Sri Lanka to add its name to a growing list of major global corporations committing to the Science-Based Targets initiative (SBTi) to reduce Greenhouse Gas (GHG) emissions and limit global warming at 1.5°C.

Launched in collaboration with CDP Worldwide, World Resources Institute (WRI), World Wide Fund for Nature (WWF) and the United Nations Global Compact (UNGC), the SBTi is a globally recognised commitment that companies make as part of the We Mean Business Coalition’s ‘Take Action’ platform on climate change.

The SBTi specifies how much and how quickly a company needs to reduce its greenhouse gas emissions, in line with the Paris Agreement goals to limit global warming keeping it at 1.5°C and well-below 2°C and is also part of a broader effort to achieve net-zero emissions by 2050.

Hayleys Fabric Managing Director/CEO, Rohan Goonetilleke said, “While it is essential that each of us takes steps to reduce our carbon footprint, the most urgent concern in the battle against climate change is for corporate entities to take meaningful action. With our commitments to the SBTi, we are proud to officially join together with leading organisations from across the world in mobilising against climate change, and commit ourselves to achieving zero-carbon emissions within the next three decades, if not sooner.

“We view this as an opportunity to enhance our competitive advantage to assist consumers to move towards sustainable brands,” he said.