LPP to develop decarbonisation strategy according to SBTi scientific method
LPP is the first Polish clothing company to join the global Science Based Targets initiative, which supports the private sector in its efforts to combat global warming. This is one of the elements of LPP’s decarbonisation strategy whose the goals will be verified in line with the SBTi methodology this year. The professional scientific assessment of the strategy is to help the Polish company achieve climate neutrality by 2050.
The Science Based Targets initiative (SBTi) is a global endeavour established in 2015 as a partnership of international sustainable development and environmental organisations – Carbon Disclosure Project (CDP), United Nations Global Compact (UNGC), World Resources Institute (WRI), and WWF. It aims to help private companies make the transition to a zero-carbon economy by supporting them in developing decarbonisation strategies, in line with the Paris Agreement, tapping into the latest achievements in the area of climate science.
SBTi provides a scientific methodology for setting and verifying targets and ways to reduce greenhouse gas emissions for companies in various industries, with specific guidance for specific sectors, including apparel. Over 3000 companies from 70 countries, operating in 15 sectors of the economy, have already decided to participate in the project1. LPP joining this group, as the first Polish company representing fashion industry, is in line with the company’s current pro-environmental activities and an important step towards full decarbonisation.
– At LPP, it’s been several years now that we have been running a number of projects in the area of sustainable development in line with our strategy, and by participating in successive partnerships we are successively expanding our know-how in this field. By joining SBTi, we have made a commitment to develop greenhouse gas emission reduction targets subject to scientific assessment. This is the first stage of a process in which we will prepare a long-term decarbonisation strategy. By verifying it according to the SBTi methodology, we want to set specific but ambitious goals, which, confirmed by scientific evidence, will effectively lead LPP to climate neutrality in 2050 – explains Dorota Jankowska-Tomków, Purchasing and ESG Director at LPP.
The Gdańsk-based company took the first step in this direction already in 2021 by self-calculating the carbon footprint in all three scopes in accordance with the GHG Protocol guidelines, and at the same time defining the most carbon-intensive area. It falls into scope 3, related to the functioning of the supply chain, i.e. production, distribution, use and disposal of garments.
In the next stage, by setting the final targets for reducing the carbon footprint of its operations, LPP will identify specific actions along with the means to achieve them and will estimate the necessary costs related to them. This process is planned to be completed at the turn of June and July, when the decarbonisation strategy is to be submitted to SBTi for verification. The analysis of the document will include an assessment of the compatibility of the targets adopted with what is considered necessary to achieve the Paris Agreement’s objectives according to the latest climate research, i.e. reducing emissions in line with limiting global warming to 1.5°C as compared to pre-industrial times.
– The SBTi experts will assess our strategy in terms of the correctness of our GHG emission calculations and compliance with the criteria defined as part of the initiative. We are convinced that by undergoing this process we have an opportunity to implement advanced decarbonisation solutions. By doing so, we will expand our efforts to reduce our environmental impact and contribute to increasing the innovativeness of LPP. We hope that our cooperation with SBTi will become an incentive for other companies to implement modern climate standards – sums up Dorota Jankowska-Tomków, Purchasing and ESG Director at LPP.
1SBTi data as of December 2021: https://sciencebasedtargets.org/resources/files/SBTiProgressReport2021.pdf
______________________________________________________________________________
LPP is a Polish family business and one of the fastest growing clothing companies in the region of Central and Eastern Europe. For 30 years, it has been successfully operating in Poland and abroad, offering its collections in such prestigious capitals as London, Helsinki or Tel Aviv. LPP SA manages five fashion brands: Reserved, Cropp, House, Mohito, and Sinsay, whose offer is available today in stationary and online stores in nearly 40 markets worldwide. The company has a chain of nearly 1700 stores with the total area of over 1.4 million m2. Based on a global distribution network located in 3 countries, it distributes clothing and accessories to 3 continents every year. LPP also plays an important role as it employs over 24 thousand people in its offices and sales structures in Poland, Europe, Asia, and Africa. The company is listed on the Warsaw Stock Exchange in the WIG20 index and belongs to the prestigious MSCI Poland index.