Reducing our footprint

OVS Group's decarbonisation strategy began in 2016. In three years direct emissions were reduced by 85% thanks to energy efficiency programmes. In 2021 reduction targets were defined according to scientific parameters and they were validated by the Science Based Targets initiative.

OVS Group is committed to:

  • reduce absolute scope 1 and 2 GHG emissions 46.2% by FY2030 from a FY2019 base year;
  • increase annual sourcing of renewable electricity from 91.4% in FY2019 to 100% by FY2030;
  • reduce absolute scope 3 GHG emissions from purchased goods and services, and upstream transportation and distribution 46.2% by FY2030 from a FY2019 base year.

 

FOCUS: SCIENCE BASED TARGETS

The Target Validation Team of SBTi - Science Based Targets initiative - has determined that the Scope 1 and Scope 2 carbon reduction objectives are in line with the global plan to contain the temperature increase below 2°C (click here for the certificate).
Furthermore, reduction targets coincide with the Sustainability Performance Targets (SPT) defined within the financial instrument issued in November 2021, the Sustainability-Linked Bond (click here to learn more), thus strengthening the importance of these objectives and Group' s commitment to the actions already undertaken to achieve them.

 

DECARBONISATION STRATEGY

The decarbonisation strategy drives actions in several areas:

  • at product level, increasing the use of more sustainable materials - organic and/or recycled solutions - and lower impact production processes and treatments, as well as replacing current virgin plastic packaging materials with recycled or renewables;
  • at the level of headquarter and shops, increasing the use of solar photovoltaic systems, improving energy efficiency - in particular lighting and heating systems - and involving the owners of non-owned stores in the transition to electricity supplies produced by renewables;
  • at the supply chain level, collaborating and supporting its suppliers in the adoption of new low-emission technologies and renewable energy sources, also thanks to their involvement in the Worldly platform;
  • at the transport level, reducing aerial transport.

SUPPLY CHAIN IMPACTS

Most of the impacts in terms of energy and water consumption are caused by the production of garments along the supply chain.
Based on the data available on Worldly, OVS Group supply chain consumes 1,564,283 GJ.

ENVIRONMENTAL MANAGEMENT SYSTEM

OVS Group has implemented a management system in line with ISO 14001:2015.