DFS has announced that The Science Based Targets initiative (SBTi) has approved its near-term science-based emissions reduction target. DFS has also committed to set long-term emissions reduction targets with the SBTi in line with climate science, to reach net zero by 2050.
The submission sets out the group's strategy and targets to reduce greenhouse gas (GHG) emissions across the organisation and value chain ,and underpins the group's commitment to minimising its environmental impact.
DFS' aim is to reduce absolute scope 1 and 2 GHG emissions by -90% by FY 2050. DFS has also committed to reducing absolute scope 3 GHG emissions by -90% within the same timeframe.
In the near term, DFS has committed to reducing absolute scope 1 and 2 GHG emissions by -55% by FY 2033, and that 73% of Scope 3 GHG emissions will have science-based targets by FY 2028.
The Group's Sofa Cycle framework, launched in 2020, ensures DFS takes a holistic view of its business' environmental impact, and establishes an ambition to become a circular business. The framework considers operational, value chain, and EoL product impacts. This was the group's first step towards developing a net-zero strategy, and working to establish long-term targets aligned with SBTi's net-zero criteria.
Tim Stacey, group CEO, says: "We are delighted to announce that our ambitious near-term plans to reduce the group's GHG emissions and our net-zero commitment have met the approval of SBTi's criteria.
"Our submission has been two years in the making and we recognise that this will be a long, and sometimes challenging journey. However, as market leaders, we have an obligation to lead from the front and we are committed to our role in helping transform the furniture industry's approach to net zero.
"We feel even more confident in our plan due to the shared ambition and strong support we've received from our most trusted suppliers, the majority of whom have committed to come on the journey with us. Today's announcement validates that through the sheer determination of the DFS team, together with the openness and collaboration from our partners, we're a step closer to minimising our environmental impact and reaching net zero by 2050."
