SBTi To Develop Specific Emission Standard For Garment Sector
The Science Based Targets Initiative (SBTi) is developing an industry specific standard for six high impact sectors, including the apparel industry in 2024.
According to SBTi, the garment sector has been chosen to have a sector specific SBTi standard due to its high emissions and SBTi will also review its Corporate Net-Zero Standard for potential updates in 2025.
“Due to its high emissions, the clothing industry needs its own set of standards,” SBTi added.
The other sectors include oil and gas, electric utilities, automotives, chemicals and insurance.
The SBTi will pilot a hybrid model for developing sector-specific standards and will partner with external organisations and pool expertise.
It informed that this model could lead to a step-change in how some SBTi standards are developed, paving the way for a major acceleration in the number of sector-specific standards developed in 2025.
SBTi validated 4,204 companies by the end of 2023 which is double that of 2022 and has plans to launch an Independent Validation Council for target validations in the near future.
“The registration of the SBTi’s charitable status by the UK’s Charity Commission means that IKEA Foundation’s $18 million funding pledge is now coming to fruition, supporting the development of standards and building and strengthening of SBTi infrastructure,” SBTI stated.
“This matches the $18 million from SBTi’s other principal funder, the Bezos Earth Fund, which has been instrumental in enabling the SBTi’s significant upscaling since 2021,” it added.
In December 2023, garment manufacturer Sae-A Trading joined the SBTi and pledged to cut its greenhouse gas emissions by 42 percent over the next six years.
