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The Net Zero goal, i.e. reduction of greenhouse gas emissions and the subsequent removal of residual emissions to as close to zero as possible along the entire value chain , is at the heart of the European Green Deal and considered crucial to limiting global warming to well below 2°C in line with the ParisAgreement.
The Company thus set a strong base for fulfilling its future environmental goals and reaching the level of decarbonization required to meet the goals of the ParisAgreement, and early in 2022, Gildan signed the Science Based Targets initiative (SBTi) commitment letter. Received a “B” score on climate change and water security from CDP.
The research by Bloomberg NEF showed that 17 countries maintained or improved their net-zero policy ratings, though the group as a whole are still falling behind on the goals of the ParisAgreement. The US has risen up the rankings thanks to the Inflation Reduction Act.
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