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EQS-News: Lenzing AG: Lenzing presents Online Sustainability Report 2021 'Linear to Circular' for the first time

Source: EQS

EQS-News: Lenzing AG / Key word(s): Sustainability
Lenzing AG: Lenzing presents Online Sustainability Report 2021 'Linear to Circular' for the first time

05.04.2022 / 07:30
The issuer is solely responsible for the content of this announcement.


Lenzing presents Online Sustainability Report 2021 "Linear to Circular" for the first time

  • Lenzing continues to march purposefully towards Group-wide climate neutrality
  • Lenzing recognized as "sustainability champion" several times worldwide - one of only 14 companies awarded "AAA" rating by CDP
  • New, innovative reporting methods - Lenzing presents its Online Sustainability Report for the first time
  • Sustainability Report 2021 based on the results of the updated materiality analysis

Lenzing - The Lenzing Group, the world's leading supplier of wood-based specialty fibers, released its Sustainability Report 2021 today, April 05, 2022, on the occasion of "Earth Month". Bearing the title "Linear to Circular", the report emphasizes the company's focus on carefully balancing its needs with those of nature in the spirit of the circular economy. The report has been prepared in accordance with the standards of the Global Reporting Initiative (GRI) and the Austrian Sustainability and Diversity Improvement Act (NaDiVeG) and audited by KPMG Austria GmbH Wirtschaftsprüfungs- und Steuerberatungsgesellschaft.

"Our innovations in relation to the circular economy and biodegradability stem from a deep sense of responsibility to our planet and a desire to act in ways that future generations can be proud of. We hope that you will discover and share this sense of responsibility when you read the Lenzing Sustainability Report 2021," notes Robert van de Kerkhof, Member of the Managing Board of Lenzing Group.

Aiming for a carbon-neutral future

With the implementation of the two key projects in Brazil and Thailand, as well as with the investments at the existing Asian sites in China and Indonesia amounting to EUR 200 mn, Lenzing continues to march purposefully towards Group-wide climate neutrality. In 2019, Lenzing became the first fiber manufacturer to set a target to reduce its carbon emissions by 50 percent by 2030 and to be net-zero by 2050. This carbon reduction target has been verified and approved by the Science Based Targets Initiative.

The partnership with Swedish pulp producer Södra marks a further milestone in Lenzing's efforts to realize its ambitious climate and sustainability goals. These two global market leaders, which have been proactively promoting the circular economy in the fashion industry for many years, are joining forces to give the issue a further boost and to make a decisive contribution to resolving the global textile waste problem. An expansion of capacities for pulp recovery from waste textiles is also planned. The goal is to be able to recycle 25,000 tonnes of used textiles per year by 2025.

Sustainability is not only a very important element of strategy at Lenzing, but also a guiding principle for innovation and product development. Lenzing continued to expand its product offering for the textile and nonwovens sectors in 2021. The third quarter saw the presentation of the first TENCEL(TM) lyocell fibers made from wood- and orange-based fiber pulp. The upcycling of orange peels as part of the TENCEL(TM) Limited Edition initiative represents a further successful step by Lenzing to develop new closed loop solutions together with partners along the value chain. The introduction of the first carbon-neutral fibers on the global nonwovens market under the VEOCEL(TM) brand comprises a further product innovation from the reporting year that exemplifies Lenzing's ambitious path in climate protection.

Solution to plastic pollution

With its wood-based, biodegradable VEOCEL(TM) fibers, Lenzing's nonwoven business also benefits from new regulations such as the Single-Use Plastics Directive (EU) 2019/904.[1] The EU Commission published its implementation guidelines in the second quarter, specifying which products fall within the directive's scope. Lenzing welcomes the measures taken by the EU in the joint fight by member states against plastic waste pollution.

In a study published in October 2021,[2] scientists from the renowned academic research institute Scripps Institution of Oceanography (SIO) at the University of California, San Diego, confirmed that wood-based cellulosic fibers biodegrade in the ocean within a short time frame at the end of their life cycle, making them a significantly better alternative to fossil-based synthetic fibers.

Honored as global "sustainability champion"

Lenzing received several awards worldwide in 2021 for its achievements, especially in the sustainability area: Lenzing was one of only 14 companies worldwide to receive a "AAA" rating from global non-profit environmental organization CDP for its environmental leadership in climate change, water security and forest conservation. CDP is recognized as the gold standard of environmental reporting worldwide.

Renowned rating agency MSCI upgraded Lenzing's rating from "A" to "AA". Lenzing thereby ranks among the top six percent of companies evaluated in its peer group. This improved MSCI ESG rating also leads to a reduction in interest expenses for Lenzing. Lenzing placed a bonded loan of EUR 500 mn in November 2019, which is linked to its own sustainability performance.

In the EcoVadis CSR rating, Lenzing achieved platinum status for the first time in 2021, ranking it among the top one percent of companies evaluated worldwide in terms of the environment, fair working conditions and human rights, as well as ethics and sustainable procurement.

Online Sustainability Report 2021: "Linear to Circular"

Lenzing is also taking new, innovative paths in terms of its non-financial reporting. It will offer its sustainability report in digital form from 2022. "We have set ourselves the goal of also reflecting Lenzing's high level of innovation in terms of its communications, and we are breaking new and innovative ground in this area. This year, we are pleased to be able to present our reports in digital and thereby interactive form for the first time. This not only makes our reporting more user-friendly, but also takes place exactly where the majority of our users are - online," comments Dominic Köfner, Vice President Corporate Communications & Public Affairs. The Lenzing Sustainability Report 2021 is available at the following link: https://reports.lenzing.com/sustainability-report/2021.

Materiality analysis 2021

The content of the Sustainability Report 2021 is based on results of the new materiality analysis. The regular update is an integral part of Lenzing's sustainability strategy "Naturally Positive". In 2021, the materiality analysis was updated and expanded. For the first time, a so-called double materiality analysis was carried out. It was developed in three phases and, in contrast to the 2015 version, produced new material aspects such as biodiversity and ecosystems, health and safety, and digitalization and cyber security. Find out more about this in the focus paper "Materiality analysis".

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Your contact for
Public Relations:


Dominic Köfner
Vice President Corporate Communications & Public Affairs
Lenzing Aktiengesellschaft
Werkstraße 2, 4860 Lenzing, Austria

Phone +43 7672 701 2743
E-mail media@lenzing.com
Web www.lenzing.com

Corporate Sustainability:

Krishna Manda

Vice President Corporate Sustainability
Lenzing Aktiengesellschaft
Werkstraße 2, 4860 Lenzing, Austria

Phone +43 7672 701 3417
E-mail sustainability@lenzing.com
Web www.lenzing.com
 
About the Lenzing Group

The Lenzing Group stands for ecologically responsible production of specialty fibers made from the renewable raw material wood. As an innovation leader, Lenzing is a partner of global textile and nonwoven manufacturers and drives many new technological developments.

The Lenzing Group's high-quality fibers form the basis for a variety of textile applications ranging from elegant clothing to versatile denims and high-performance sports clothing. Due to their consistent high quality, their biodegradability and compostability Lenzing fibers are also highly suitable for hygiene products and agricultural applications.

The business model of the Lenzing Group goes far beyond that of a traditional fiber producer. Together with its customers and partners, Lenzing develops innovative products along the value chain, creating added value for consumers. The Lenzing Group strives for the efficient utilization and processing of all raw materials and offers solutions to help redirect the textile sector towards a closed-loop economy. In order to reduce the speed of global warming and to accomplish the targets of the Paris Climate Agreement and the "Green Deal" of the EU Commission, Lenzing has a clear vision: namely to make a zero-carbon future come true.

Key Facts & Figures Lenzing Group 2021
Revenue: EUR 2.19 bn
Nominal capacity: 1,145,000 tonnes
Number of employees (headcount): 7,958

TENCEL(TM), VEOCEL(TM), LENZING(TM), REFIBRA(TM), ECOVERO(TM), LENZING MODAL(TM), LENZING VISCOSE(TM), MICROMODAL(TM) and PROMODAL(TM) are trademarks of Lenzing AG.
 

[1] Directive (EU) 2019/904 of the European Parliament and of the Council of June 5, 2019 on the reduction of the impact of certain plastic products on the environment
[2] https://www.sciencedirect.com/science/article/pii/S0048969721031314



05.04.2022 This Corporate News was distributed by EQS Group AG. www.eqs.com


Language: English
Company: Lenzing AG
4860 Lenzing
Austria
Phone: +43 7672-701-0
Fax: +43 7672-96301
E-mail: office@lenzing.com
Internet: www.lenzing.com
ISIN: AT0000644505
Indices: ATX
Listed: Vienna Stock Exchange (Official Market)
EQS News ID: 1319925

 
End of News EQS News Service

1319925  05.04.2022 

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