Aitken Spence, Lanka’s first diversified group to receive SBTi validation

Aitken Spence PLC reached a defining moment in its sustainability journey, becoming the first diversified holdings company in Sri Lanka to have its emission reduction targets validated by SBTi. For a Group whose operations span 17 industry sectors and several geographical regions, this complexity is amplified. Each sector presents unique challenges, from energy-intensive operations to service-oriented businesses with wide networks and value chains.

Bringing these diverse units together under a unified climate strategy calls on a comprehensive understanding of operational processes, a robust governance framework, a mature system and consistent monitoring mechanisms to ensure measurable outcomes.

According to UNEP's latest Emissions Gap Report, global temperatures are likely to exceed 1.5°C within the next decade and the window for meaningful action is narrowing. 2024 was the first calendar year in human history to exceed 1.5°C of warming above pre-industrial levels, the very threshold the Paris Agreement was agreed to prevent.

The Science Based Targets initiative (SBTi) is a corporate climate action organisation designed to address this responsibility, enabling companies and financial institutions worldwide to play their part in combating the climate crisis.

SBTi validation strengthens the credibility of Aitken Spence’s climate commitments by anchoring its emissions reduction pathway to independently verified science based thresholds.

Chairman/Chairperson of Aitken Spence PLC, Stasshani Jayawardena said, “Receiving SBTi validation for our targets is a proud milestone for Aitken Spence and an important indicator of where we are headed as a Group. As global expectations around climate responsibility continue to evolve, we believe businesses must lead with clarity, accountability and ambition.”

By achieving this validation, the Group attests that large, multi-sector organisations can pursue climate responsibility with coherence and measurable impact, even while managing the complexities inherent to diverse business operations.

This landmark achievement is further reinforced by Aitken Spence’s longstanding track record of pioneering sustainability-led innovation across industries.

The Group is the first and only company in Sri Lanka to invest in a waste-to-energy power project through Western Power Company, pioneered the world’s first LEED Gold certified hotel with Heritance Kandalama, and established the first carbon neutral, green printing facility in the South Asian region through Aitken Spence Printing.

Pictures: Western Power Company, Aitken Spence Printing, the first carbon neutral green printing facility in the South Asian region, and Heritance Kandalama, the world’s first LEED Gold certified hotel.