STL Joins SBTi to Achieve Net-Zero by 2030
In a bid to further increase its sustainability efforts, STL, a leading optical and digital solutions company, announced the adoption of Science-based Targets initiative (SBTi) for more transparent and granular carbon monitoring, control, and disclosure.
STL is now among the 0.01% of Indian companies that have committed to SBTi. This shows how seriously the company wants to become "net-zero" by 2030 and work toward the UN's Sustainable Development Goals.
Since STL announced its Net-Zero ambition, the company has accomplished some significant milestones. Eight of STL's 11 global plants are now Zero Waste, and 6 are Zero Liquid Discharge plants. STL has increased indigenous sustainable procurement in cable manufacturing from 55% in FY21 to 61% in FY22 and recycled over 1,45,000 m³ of water at its facilities.
Now with SBTi, STL will join a stellar group of 4,500 companies globally to decarbonise at scale in a target-based manner. These targets will be published on the SBTi website following validation, triggering an iterative annual disclosure procedure. This will ensure an entirely new dimension of transparency for STL's sustainability initiatives.
Internet and digital networks are responsible for 2% of the global carbon output, thereby significantly contributing to global climate change. SBTi is a global body that enables businesses to assess the complexity of ICT and quantify its impact on the environment. It helps them visualise how quickly they need to shrink their carbon footprint to avert the climate change fallouts and set realistic emissions reduction targets. As a sustainability-first organisation, STL is in absolute sync with the ethos of SBTi.
Commenting on this achievement, Ankit Agarwal, Managing Director, STL, said: "Our purpose of 'Transforming Billions of Lives by Connecting the World' serves as a north star for our ESG efforts. Adopting SBTi will definitely reinforce STL's sustainability commitment as we always believe in setting targets and measuring them scientifically. At the same time, we also hope to encourage and motivate our peers to take equally bold transformation measures that can have a net positive impact on the present climate realities."