Maxima Grupe, a retailer with operations across the Baltic States, Poland and Bulgaria, has received validation from the Science Based Targets initiative (SBTi) for its greenhouse gas (GHG) emissions reduction targets.
The company’s Scope 1 and 2 targets are now officially recognised as consistent with the ambitious 1.5°C maximum global heating trajectory.
The significant milestone was reached at the end of December 2023, following the retailer’s commitment in March of the same year to set science-based targets.
The SBTi’s validation of Maxima Grupe’s targets underscores the company’s commitment to climate change mitigation.
The retailer has pledged to cut its absolute Scope 1 and 2 GHG emissions 42% by 2030 from the base year 2021.
Maxima Grupe also aims for 78.3% of its suppliers by emissions to have science-based targets by 2027, demonstrating a comprehensive approach to sustainability.
How well do you really know your competitors?
Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.
Your download email will arrive shortly
Not ready to buy yet? Download a free sample
We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below formBy GlobalData
To address Scope 1 and 2 emissions, the retailer has outlined immediate actions, including enhancing energy efficiency, transitioning to eco-friendlier refrigerants, adopting smart energy management and employing renewable energy generation.
These steps are part of a phased strategy to reduce the company’s climate impact by 2030.
For Scope 3 emissions, Maxima Grupe has already mapped out product-related emissions for each supplier.
Maxima Grupe sustainability head Kiril Sanko said: “The validation process is of great importance to ensure the credibility of our climate action, while the commitment itself sets a tone for accountability through regular monitoring, verification, and reporting frameworks. We have a clear destination of climate impact reduction till 2030 and the path that we have embarked on shall contribute to our resilience to transitional risks.”
The SBTi is a collaborative body that plays a crucial role in guiding companies to set and achieve science-based emissions reduction targets, with the goal of halving emissions by 2030 and reaching net zero before 2050.