Lindex Group’s climate target approved by the Science Based Targets initiative
The Science Based Targets initiative (SBTi) has approved Lindex Group’s science-based emission reduction target for its own operations (Scope 1 and 2) and value chain (Scope 3). The validation confirms that Lindex Group’s climate strategy and target are in line with the Paris Agreement to limit global warming, ensuring they are scientifically robust.
Lindex Group’s near-term science-based target is to reduce absolute greenhouse gas emissions from its own operations and value chain by 42% by 2030 compared to 2022. The target includes FLAG (Forest, Land and Agriculture) targets covering emissions that come from land use and land management connected to the Group’s raw materials. The SBTi’s validation process is a rigorous assessment using specific criteria and guidelines to ensure the targets cover significant emissions and are ambitious enough to drive substantial reductions.
“SBTi’s validation encourages us to continue accelerating climate actions while growing our business profitably and sustainably. The validation is an important milestone in our journey to reduce climate impacts and our systematic approach has already resulted in significant emission reductions. In 2023, we reduced Lindex Group’s total greenhouse gas emissions by 11% compared to 2022. In the Lindex division, our emissions have declined by 41% since 2017,” says CEO Susanne Ehnbåge.
Lindex Group’s divisions, Lindex and Stockmann, have defined their roadmaps for reaching the target. In 2022, the Group’s total emissions were 296 ktCO2e. More than two thirds of the Group’s climate emissions come from the goods it sells. Other significant emission sources are transport, energy used in the company’s own operations and emissions during the use of products sold by the company.
“Our key measures to reduce emissions include improving energy efficiency, switching to renewable energy throughout the value chain and increasing the use of recycled and regenerative materials. In addition, we continue to shift towards more circular business models and services,” says Director of Sustainability Anna-Karin Dahlberg.
More information:
Anna-Karin Dahlberg, Director of Sustainability, Lindex, tel. +46 31 739 5253
Mia Ranta-aho, Head of Sustainability, Stockmann, tel. +358 50 383 9490
Lindex Group Media Desk info@stockmann.com, tel. +358 50 389 0011
Lindex Group plc is an international multichannel retail group with two divisions: Lindex and Stockmann. Lindex is a global fashion company with a purpose to empower and inspire women everywhere. Its three strong categories include women’s and kids’ wear as well as lingerie, where it is a market leader in the Nordics. Stockmann is a premium multi-brand retailer with department stores in Finland and the Baltics. Its purpose is to be a marketplace for a good life. In 2023, the Lindex Group’s revenue was EUR 952 million and it had some 5 800 employees. The Group’s roots lie in the Stockmann company founded in 1862 and its shares are listed on the Nasdaq Helsinki Ltd. in Finland. www.lindex-group.com
