Interface Receives Third-Party Validation of Science Based GHG Reduction Target

Rhea-AI Summary

Interface (Nasdaq: TILE) has received third-party validation from the Science Based Targets initiative (SBTi) for its 2030 greenhouse gas (GHG) reduction targets, affirming alignment with global climate goals. The company aims to cut its Scope 1 and 2 emissions by 50% from 2019 levels by 2030, with a commitment to reduce Scope 3 emissions from purchased goods and services by 50% and business travel and commuting emissions by 30%. Interface aspires to become a carbon negative company by 2040, emphasizing its longstanding sustainability integration in business operations.

Positive

• Achieved third-party validation of GHG reduction targets from SBTi.
• Targets include a 50% reduction in Scope 1 and 2 emissions by 2030 from 2019 levels.
• Commitment to reduce Scope 3 emissions by 50% and business travel emissions by 30% by 2030.
• Aims to become carbon negative by 2040, reflecting long-term sustainability goals.
• Only global flooring company with validated science-based reduction targets.

Negative

• None.

ATLANTA, Sept. 16, 2021 /PRNewswire/ -- Interface® (Nasdaq: TILE), a worldwide commercial flooring company and global leader in sustainability, today announced third-party validation of its 2030 greenhouse gas (GHG) reduction targets as science-based. The Science Based Targets initiative (SBTi)* confirmed that Interface has set emission reduction targets that are in line with the level of decarbonization required to keep global temperature increase to 1.5°C compared to preindustrial temperatures.

The now validated science-based targets (SBT) from Interface commit the company to reduce its Scopes 1 and 2 emissions 50% on an absolute basis by 2030 from a 2019 base year. It also outlines the company's commitment to reduce absolute Scope 3 emissions from purchased goods and services 50% and reduce business travel and employee commuting emissions 30% within the same timeframe.

Interface endeavors to become a carbon negative enterprise by 2040 as part of its Climate Take Back^TM mission. This goal uses a science-based approach by committing to aggressive GHG reductions that go beyond zero in a 20-year timeframe. The 2030 SBT represents an important halfway milestone on the company's journey.

"Interface is committed to addressing global warming by setting ambitious GHG reduction goals that will help keep the planet at a safe global temperature," said Erin Meezan, VP and Chief Sustainability Officer at Interface. "Setting aggressive targets is part of our DNA at Interface and why we have been so successful at integrating sustainability into our business for more than 25 years. Reducing our emissions further in this nine-year period will allow us to continue the significant work that we've already done to reduce the emissions of our carpet business on an absolute basis by 95% since 1996."

Interface is one of few building product manufacturers and the only global flooring company to set a science-based reduction target.

"To address global warming meaningfully in the building and construction sector, which is responsible for 40% of annual GHG emissions, we must collectively act quickly to halve emissions by 2030," continued Meezan. "SBTs present an opportunity for the industry to align on aggressive GHG reduction targets in line with the timeframe needed to limit warming. It's critical that climate action ambition is elevated within our sector and approval from SBTi is an important step in validating that company targets are aligned with what the latest climate science has told us is needed to prevent the most damaging effects of climate change."

"We congratulate Interface on setting science-based targets consistent with limiting warming to 1.5°C, the most ambitious goal of the Paris Agreement," said Heidi Huusko, Senior Manager, Environment and Climate at the United Nations Global Compact, one of the Science Based Targets initiative partners. "By setting ambitious science-based targets grounded in climate science, Interface is taking action to prevent the most damaging effects of climate change."

Beyond setting SBTs, Interface continues to help its customers achieve their own carbon reduction goals with the launch and continued scaling of its carbon negative carpet tile when measured cradle to gate. This innovation helps customers reduce their Scope 3 emissions with carbon negative alternatives. Furthermore, all the flooring products that Interface sells are carbon neutral across their full product life cycle through the Carbon Neutral Floors™ program.

To learn more about Interface's SBT, visit https://sciencebasedtargets.org/companies-taking-action.

^*SBTi is the global body enabling businesses to set emissions reduction targets in line with climate science. It is a collaboration between CDP, the United Nations Global Compact, World Resources Institute (WRI) and the World Wide Fund for Nature (WWF) and one of the We Mean Business Coalition commitments.

About Interface

Interface, Inc. is a global flooring company specializing in carbon neutral carpet tile and resilient flooring, including luxury vinyl tile (LVT) and nora® rubber flooring. We help our customers create high-performance interior spaces that support well-being, productivity, and creativity, as well as the sustainability of the planet. Our mission, Climate Take Back™, invites you to join us as we commit to operating in a way that is restorative to the planet and creates a climate fit for life. 

Learn more about Interface at interface.com and blog.interface.com, our nora brand at nora.com,  our FLOR® brand at FLOR.com, and our Carbon Neutral Floors™ program at interface.com/carbonneutral.

Follow us on Twitter, YouTube, Facebook, Pinterest, LinkedIn, Instagram, and Vimeo. 

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SOURCE Interface, Inc.

FAQ

What are Interface's GHG reduction targets for 2030?

Interface aims to reduce its Scope 1 and 2 emissions by 50% from 2019 levels by 2030 and reduce Scope 3 emissions by 50%.

Who validated Interface's GHG reduction targets?

The Science Based Targets initiative (SBTi) validated Interface's GHG reduction targets.

What does Interface plan to achieve by 2040?

Interface aims to become a carbon negative enterprise by 2040.

When did Interface announce its validated GHG targets?

Interface announced the validation of its GHG targets on September 16, 2021.

What is the stock symbol for Interface?

Interface is traded on Nasdaq under the stock symbol TILE.