14 December 2023 – THG PLC ("THG" or the "Group"), is proud to announce the launch of THG Partnership in Action. THG Partnership in Action, or ‘PACT’, is a new initiative focused on collaboration with suppliers to foster a culture of sustainability while mutually decarbonising operations and leaving the world a better place than it was found.
The Group’s science-based targets were officially validated by the SBTi in September 2023, encompassing mandatory Scope 1 and 2 reductions and aiming for an 85% participation of THG's suppliers with science-based targets by 2027, alongside a 90% reduction in absolute Scope 3 emissions by 2040. THG acknowledges that achieving their Net Zero target by 2040 hinges on collaborative efforts and supplier participation, recognising the imperative of collective action for meaningful impact.
As part of PACT, THG aims to share its comprehensive sustainability strategy with key stakeholders and suppliers to not only share progress but find opportunity for collaboration. The initiative seeks to enhance transparency throughout the supply chain and highlights the importance of sustainable practices in today's business landscape.
Key Objectives of PACT:
- Setting Clear Supplier Goals: THG is committed to setting ambitious sustainability goals for its suppliers. These goals align with the company's overarching commitment to reduce its environmental impact and promote responsible business practices.
- Streamlined Communication of Data Requirements: Through the development of an online supplier portal, THG aims to establish a clear communication channel with suppliers regarding the information necessary to measure and monitor sustainability performance. This includes data related to Scope 1, Scope 2, and Scope 3 emissions.
- Guidance and Support: Recognising that navigating sustainability requirements can be challenging for suppliers, THG is dedicated to providing guidance and support. The company will work closely with suppliers to ensure they understand these expectations and have the necessary resources to meet sustainability goals.
Mark Jones, Chief Sustainability Officer at THG, said: "As a responsible global player, THG is proud to launch the THG PACT initiative, emphasising the significance of sustainability throughout our organisation and supply chain. We believe that by working collaboratively with our suppliers and setting ambitious goals, we can make a positive impact on the environment and contribute to a more sustainable future."
He added: “THG recognises the importance of addressing all scopes of emissions to create a comprehensive and impactful sustainability strategy. By setting specific targets, the company aims to make meaningful contributions to global environmental conservation efforts.”
THG comprehends the scale and complexity involved in pivoting towards more sustainable business operations. Demonstrating their commitment, the Group has pledged to leverage its expertise to assist its customers and suppliers in this pursuit. Hence, PACT stands uniquely positioned to offer suppliers and vendors across the value chain not just providing resources and guidance, but also technical assistance through THG Eco – an accessible, cost-effective, and simplified in-house sustainability service provided by THG.