It has also committed to a long-term target to reach net-zero emissions by 2050, the highest level of ambition on climate under the Science Based Target initiative (SBTi).

Rajiv Sharma, Coats CEO, said: “We have already laid out an ambitious set of targets in our sustainability strategy. Making commitments like this to address our emissions builds on our sustainability strategy and demonstrates our resolve to be a role model and catalyst for change in the area of climate change.”

Science-based targets provide companies with a pathway to reduce their greenhouse gas emissions, thus helping to prevent the worst expected impacts of climate change while future-proofing business growth. SBTi defines and promotes best practice in science-based target setting and independently assesses and approves companies’ targets. It is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF).