Interloop Limited (PSX: ILP) has become Pakistan’s first Large-Scale Enterprise with Approved Science Based Targets, the company informed the Pakistan Stock Exchange on Monday.
“To deliver on our commitment, we have significantly ramped up our investment in clean energy and are already working with our value chain partners to decarbonize the industry and these targets are based on the latest climate science and cover the full set of its emissions: Scope 1, 2 & 3,” the filing stated.
The Science Based Targets Initiative (SBTi) is a collaboration between the Carbon Disclosure Project (CDP), the United Nations Global Compact (UNGC), the World Resources Institute (WRI), and the World Wide Fund for Nature (WWF).
SBTI provides a framework for companies to set science-based targets that align with the goals of the Paris Agreement, enabling them to take meaningful action against climate change.
This development comes in light of Interloop’s mission to reduce its environmental impact and move towards lower emissions. More information in this regard can be found on ILP’s website.
