MAS Holdings Targets Net Zero by 2048 with SBTi Approval

MAS Holdings, the global apparel and textile manufacturing leader headquartered in Sri Lanka, has pledged to achieve net-zero greenhouse gas (GHG) emissions across its value chain by 2048. This commitment follows the official validation of its Net-Zero and Near-Term climate goals by the Science Based Targets initiative (SBTi), marking a key milestone in advancing the MAS Plan for Change, the group’s sustainability framework.

The SBTi validation confirms that MAS’ short-term and long-term climate goals are aligned with the Corporate Net-Zero Standard, the world’s most stringent benchmark for corporate climate action, consistent with limiting global warming to 1.5°C above pre-industrial levels.

Highlighting this milestone, Suren Fernando, CEO of MAS Holdings, stated:
“Today's climate disruptions remind us that our ability to thrive tomorrow depends on how boldly we act now. The approval of our Net-Zero and Near-Term goals by SBTi is pivotal to our climate journey and an affirmation of the real action we are taking to protect the planet while safeguarding our business and the livelihoods within our ecosystem. We are proud to be part of a global movement taking science-based action to build a resilient, net-zero future.”

MAS’ Climate Commitments

• Overall Net-Zero Goal: Achieve net-zero GHG emissions across the value chain by 2048.
• Near-Term Targets (by 2030):
• • Cut Scope 1 & 2 emissions by 80% (base year 2019).
  • Reduce Scope 3 emissions from purchased goods, transportation, business travel, commuting, distribution, processing, and investments by 46.2%.
• Long-Term Targets:
• • Cut Scope 1 & 2 emissions by 90% by 2040.
  • Cut Scope 3 emissions by 90% by 2048.

These commitments, which include land-related emissions and removals from bioenergy feedstocks, cover MAS’ global apparel operations.

Through the MAS Plan for Change, the company is driving sustainability under three pillars—Product, Lives, and Planet—to reimagine product design, create positive social impact, and significantly reduce environmental footprint.

The SBTi, a global partnership between CDP, UN Global Compact, We Mean Business Coalition, WRI, and WWF, equips companies with standards and tools to set science-based climate targets in line with global net-zero goals by 2050.