2023 marked a pivotal year for MAS, as we reached the halfway point on our 2025 sustainability goals.
2023 marked a pivotal year for MAS, as we reached the halfway point on our 2025 sustainability goals. Unrelenting global volatility caused a drop in order volumes throughout the fashion industry, impacting both manufacturers and retailers. Sri Lanka’s own challenges added further complexity to achieving our annual targets. Despite these challenges, we remained resolute in our mission to be a strong voice within the industry to drive change that creates positive impact for both people and the planet.
The European Union’s regulations are growing more stringent with each passing year and the United States is expected to quickly follow suit. As the concept of a circular economy gains traction worldwide, the industry is feeling the pressure to close the loop. For MAS, this industry shift presents a perfect opportunity to take action collectively across the value chain while achieving our product sustainability goals.
This year we made steady progress towards the goals set out in the products changed for good pillar, which includes achieving circularity at scale. We were able to build on the investments and partnerships made in 2022 that expand our capabilities in textile-to-textile recycling, circular yarn sourcing, and recycling both pre- and post-consumer waste. Our investment in HeiQ AeoniQ™, an innovative yarn, exemplifies our commitment. Occupying an influential position within the value chain allows MAS to have a tangible effect both upstream and downstream – collaborating with startups and tech companies to develop circular materials and integrating them into products for our brand partners.
At MAS, we believe the success of our people and our communities is fundamental to our own business success. This is why we constantly endeavour to create world-class workplaces and empower communities to thrive. In 2023, we amplified our efforts to support factory floor employees by providing awareness programmes and skills development that would help them weather Sri Lanka’s current economic climate. Staying true to our culture of continuous learning, training, and development was made a priority at every level, while also offering programmes to help promote physical health and mental well-being.
It was a proud moment for gender equality with our flagship women’s empowerment programme, Women Go Beyond, celebrating its 20-year milestone in 2023. MAS also came together with a Sri Lankan telecommunications provider, Dialog Axiata PLC, to launch the Dialog MAS Enabler Programme in June 2023, an initiative to support university students with disabilities gain experience in corporate settings.
During the year, we also expanded our work in local communities through the MAS Eco Go Beyond and MAS Girls in STEM programmes. In addition, each division of the Company continued their efforts to uplift disadvantaged communities, with initiatives ranging from providing access to clean water and better nutrition to improving healthcare facilities and promoting community wellness.
The urgency for climate action is undeniable. The big picture of sustainability is evolving, with the goalpost shifting constantly. With global efforts are failing to maintain the 1.5°C climate threshold, we are at a critical juncture for planetary health.
As a leading manufacturer, MAS feels the weight of this responsibility deeply. As business slowdown contributed towards our emissions reduction target, positively exceeding our planned trajectory in 2023, we continued to lay the groundwork that ensures we achieve our SBTi goal of a 25.2% carbon emission reduction by 2025; from our 2019 baseline.
Reaching our target requires collaboration, and we are working with customers, supply chain partners, and other key stakeholders to achieve this crucial milestone. Additionally, we are actively transitioning towards renewable energy sources to further solidify our commitment to a sustainable future.
Our “Journey to 25,000 Acres” gathered momentum in 2023; we were able to restore biodiversity over 3,000 acres within the year. We also surpassed the 12,000-acre milestone, bringing us closer to the halfway point of our journey.
Our impactful collaboration with The Wildlife Foundation, Kenya (TWF), which began in 2022, is due to continue until 2025. This partnership goes beyond offering environmental benefits, it fosters community development by improving access to education and safeguarding the indigenous heritage of inhabitants within the Nairobi National Park Wildlife Dispersal Area.
At MAS, our approach to governance is inextricably linked to our sustainability strategy. The 12 commitments outlined in the MAS Plan for Change have been made publicly available, offering greater transparency to our customers and the industry.
The Company’s dedication and drive to achieve these targets has a cascading effect from the CEO, down to the operational levels. While investments and funding are essential, accountability is paramount. Every member of our workforce understands they have an integral part to play. We are not merely setting ambitious sustainability targets, we live them every day. It is a shared passion that unites us as one team with a powerful sense of purpose and value.
Nemanthie Kooragamage
Director – Group Sustainable Business
MAS Holdings
