MAS Holdings Commits to Net Zero Greenhouse Gas Emissions by 2048

Colombo, Sri Lanka – [Date] – MAS Holdings, Sri Lanka’s leading apparel and textile manufacturing conglomerate, has committed to achieving net-zero greenhouse gas (GHG) emissions globally by 2048. This pledge follows the official validation of its Net-Zero and Near-Term targets by the Science Based Targets initiative (SBTi), reinforcing the company’s MAS Plan for Change, its group-wide sustainability roadmap.

The SBTi validation confirms that MAS’ targets are aligned with the SBTi Corporate Net-Zero Standard — the world’s most rigorous and widely recognized framework for corporate climate action — ensuring that the company’s goals are consistent with limiting global warming to 1.5°C above pre-industrial levels.

Suren Fernando, CEO of MAS Holdings, emphasized the significance of this milestone:

“Today’s climate disruptions remind us that our ability to thrive tomorrow depends on how boldly we act now. The approval of our Net-Zero and Near-Term goals by SBTi is pivotal to our climate journey and an affirmation of the real action we are taking to protect the planet while safeguarding our business and the livelihoods within our ecosystem. We are proud to be part of a global movement taking science-based action to build a resilient, net-zero future.”

Science-Based Targets Overview

MAS’ commitment to science-based targets reflects a holistic sustainability strategy that balances environmental responsibility, social impact, and business resilience. The approved targets cover its global apparel operations, including land-related emissions and removals from bioenergy feedstocks.

Net-Zero Goal: Achieve net-zero GHG emissions across the value chain by 2048.

Near-Term Targets (by 2030, base year 2019):

Reduce Scope 1 and Scope 2 emissions by 80%.

Reduce Scope 3 emissions (purchased goods, transportation, travel, commuting, downstream logistics, product processing, investments) by 46.2%.

Long-Term Targets:

Reduce Scope 1 and 2 emissions by 90% by 2040.

Reduce Scope 3 emissions by 90% by 2048.

MAS Plan for Change

The MAS Plan for Change is anchored in three pillars — Product, Lives, and Planet — to revolutionize apparel manufacturing by designing sustainable products, creating positive social impact, and minimizing environmental footprints. These measurable commitments serve as the foundation for driving meaningful change across the industry.