MAS Holdings Announces Company-Wide Sustainability Strategy: Plan for Change
02 February 2022, Mumbai:
The Plan For Change outlines three focus areas and twelve commitments including science-based targets.
MAS Holdings, the Sri Lankan based design to delivery solutions provider, announces its company-wide sustainability strategy, the MAS Plan For Change. Knowing it operates in an industry with a large negative impact, The Plan For Change outlines three focus areas to improve its operations: Product, Lives, and Planet, with twelve goals to be achieved by 2025.
MAS has also recently signed up for the Science Based Targets initiative (SBTi) with commitments to reduce absolute scope 1 and 2 GHG emissions 25.2% by 2025 from a 2019 base year, and further commits that 85% of its suppliers by spend and 100% of joint ventures in scope 3 investments, will have science-based targets by 2025.
The Plan For Change is a commitment to inspiring sustainable change within its operations, amongst its customers, communities, and for the planet as a whole.
MAS Holdings is the largest apparel tech company in South Asia, headquartered in Colombo, Sri Lanka with facilities in 15 countries, powered by over 100,000 employees globally.
Since its founding in 1987, MAS has prioritized employee wellbeing based on a founding principle of doing the right thing and providing safe, secure, and comfortable places of work, with fair, equitable wages for team members.
This core principle percolates to all areas of business, including the relationships built with brand customers, work in local communities, the ethical treatment of people, and actions towards the natural environment.
Over three decades, MAS created many programs and initiatives aimed at improving workers’ lives, the products it makes, and the planet. MAS acknowledges that the industry it operates in has significant negative impacts and it is doing its part to mitigate these effects.
The Plan For Change combines the work of these individual programs and formalizes the goals into one cohesive strategy to be carried out across the group.
While the Plan For Change is a new strategic approach to the company’s product, social and environmental goals, MAS has been dedicated to uplifting people and the planet since its inception. Progress towards sustainability is an ongoing journey for the company and is demonstrated by its long-standing membership in the UN Global Compact (since 2003), signing of the Women’s Empowerment Principles, commitment to reaching many of the UN Sustainable Development Goals, and partnerships with the IFC, SAC, ZDHC and many others.
MAS recognizes that addressing many of the challenges the world and its inhabitants face requires sustainable, systemic change and is committed to doing so through ambitious, collaborative initiatives.
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