THG, which owns brands like Lookfantastic, Cult Beauty and MyProtein, has announced its net-zero targets have been validated by the Science Based Targets Initiative (SBTi).
As part of SBTi’s requirements, THG has committed to reduce absolute Scope 1 and 2 greenhouse gas (GHG) emissions by 42% by 2030 from a 2020 base year, along with 85% of its suppliers by spend also having science-based targets by 2027.
The health and beauty retailer also committed to reducing absolute Scope 1 and 2 GHG emissions by 97.7% by 2040 compared with 2020 and reducing absolute Scope 3 emissions by 90% within the same timeframe.
THG’s announcement comes a day before prime minister Rishi Sunak is scheduled to give a speech as the government makes a U-turn on its sustainability targets on cars and boilers.
THG chief executive Matt Moulding said: “THG has taken a significant stride forward as our net-zero targets have been officially validated by the SBTi. Two years ago, we signed a commitment letter with the SBTi stating that we would be aligning our climate mitigation targets with the latest science.
“Today, the validation of our net-zero targets by the SBTi reaffirms our dedication to achieving a net-zero status as a company, minimising our climate impact.”
THG chief sustainability officer Mark Jones said: “THG recognises the importance of achieving rapid and substantial emission reductions to cut global emissions in half by 2040 and reach net zero under the Paris climate agreement.
“Since the launch of our sustainability strategy in 2021, we have implemented near-term and long-term company-wide emission reductions in line with the latest climate science.”
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