MAXIMA GRUPĖ receives SBTi validation for its greenhouse gas emissions reduction target

MAXIMA GRUPĖ, which operates retail chains and e-commerce in the Baltic States, Poland, and Bulgaria, has its near-term science-based emissions reduction targets validated by the Science Based Targets initiative (SBTi) at the end of December 2023, after committing to set such targets earlier in March the same year. The Scope 1 and 2 targets ambition have been classified as in line with 1.5^oC trajectory.

As of 8 February 2024, MAXIMA GRUPĖ has been officially included on the SBTi list of companies, who have their greenhouse gas reduction targets validated, after the official approval dated 20 December 2023. The approval of targets by the global body that is enabling companies to set ambitious goals in the climate change mitigation area in line with the most recent science signifies that through the rigorous validation process our company’s submitted targets comply with the set criteria and are in-line with the ambition levels, that are deemed necessary to achieve the Paris Agreement. The SBTi has classified our Scope 1 and 2 target ambition as in line with a 1.5^oC trajectory, signifying an important milestone for a responsible business.

“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” – says Kiril Sanko, Head of Sustainability at MAXIMA GRUPĖ.

What targets have we committed to?

MAXIMA GRUPĖ committed to reduce absolute scope 1 and 2 GHG emissions 42.0% by 2030 from a 2021 base year. We also committed that 78.3% of our suppliers by emissions covering purchased goods and services, will have science-based targets by 2027.

For us sustainability is part of our business, and in business we always set targets that we consistently implement towards achieving purposeful transformation. We believe that targets without actions are deemed to become unattainable dreams, thus we are actively implementing solutions that assist us in our journey. We have agreed upon actions that we shall take in the short term to tackle our Scope 1 and 2 emissions through energy efficiency and smart energy management, transitioning to more climate-friendly refrigerants and deployment of renewable energy generation. After the first period of action is completed, we shall move to further implementation steps.