SBTI verifies company's net-zero science-based target by 2050
November, 07, 2022 - Milliken & Company announced its science-based net-zero targets have been approved by the U.N.-backed Science Based Targets initiative (SBTi). SBTi is a collective of international organizations dedicated to helping companies set emission reduction targets consistent with climate science and the Paris Agreement.
“At Milliken, sustainability is a core value,” shares Halsey Cook, president and CEO of Milliken & Company. “Climate change is placing pressure on communities, on companies and on our planet. The time to take meaningful action is now.”
SBTi calculates that companies committed to cutting emissions in line with climate science now represent $38 trillion — one-third — of the global economy. Milliken says it is one of the first 50 companies globally to achieve approved science-based net-zero targets and joins a group of more than 1,300 companies who have made net-zero commitments using the 2021 SBTi Corporate Net-Zero Standard. Milliken is the first company to be approved in South Carolina, where Milliken’s global headquarters is located.
“Not all net-zero is the same, which is why Milliken commits to reaching real net-zero greenhouse gas emissions across the value chain by 2050 from a 2018 base year,” says Kasel Knight, general counsel and head of sustainability at Milliken. “By working with SBTi, our net-zero commitment, along with our approved near-term and long-term targets, has been fully vetted by the best available science on a global scale.”
“We’re proud Milliken is leading this work,” concludes Cook. “Our targets empower our team of more than 8,000 to reduce risk, minimize impacts, work efficiently, control costs and identify new ways to deliver products.”
Milliken & Company is a global manufacturer which focus on materials science with a portfolio of applications across the textile, specialty chemical, flooring and healthcare businesses.
The Science Based Targets initiative (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 Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments.