Gildan’s Science-Based Emissions Targets Validated By Science Based Targets initiative (SBTi)

MONTREAL — August 2, 2023 — Gildan Activewear Inc. is pleased to announce that the Science Based Targets initiative (SBTi) has validated that the company’s 2030 near term greenhouse gas (GHG) emissions reduction targets are in conformance with the SBTi Criteria and Recommendations (version 4.2), marking a significant milestone in the advancement of the Company’s ESG strategy. The SBTi’s target validation team has classified Gildan’s Scope 1 and 2 target and has determined that it is in line with a well-below 2ºC trajectory.

“The validation of our emissions targets by SBTi further reinforces our commitment and builds on our foundation of strong sustainability practices which include social, environmental, and economic benefits in the communities where we operate. We understand the importance of climate change and, over the last year, we have been implementing our new climate strategy across our organization in order to make meaningful progress to ensure we attain our third generation of GHG emissions reduction targets,” said Peter Iliopoulos, senior vice president, Taxation, Sustainability, and Governmental Affairs. “This is further evidence of our genuine commitment to making purposeful advancements by 2030 in line with our Next Generation ESG strategy.”

In 2022, Gildan unveiled its new Next Generation ESG strategy and targets, which seek to address global environmental and social priorities and increase the sustainability of products delivered to customers worldwide. As part of this strategy, Gildan committed to reduce its absolute Scope 1 and 2 GHG emissions by 30 percent by 2030 from a 2018 base year3. Gildan also committed to reduce absolute Scope 34 GHG emissions by 13.5 percent by 2030 from a 2019 base year. Both targets have now been reviewed and validated by the SBTi.

1 Scope 1 refers to direct emissions resulting from fuels used for stationary and mobile combustion across Gildan-operated facilities.

2 Scope 2 refers to emissions resulting from Gildan’s purchase of electricity.

3 The target boundary includes land-related emissions and removals from bioenergy feedstocks.

4 Scope 3 relates to emissions generated from its supply chain.

Posted: August 2, 2023

Source: Gildan Activewear Inc.