EQS-News: “Ready to join?”: Lenzing presents combined annual and sustainability report 2023
EQS-News: Lenzing AG / Key word(s): Sustainability/Annual Results
“Ready to join?”: Lenzing presents combined annual and sustainability
report 2023
15.03.2024 / 09:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
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“Ready to join?”: Lenzing presents combined annual and sustainability
report 2023
• Combination of financial and non-financial reporting as evidence of
the central role of sustainability
• Measurable progress in achieving ambitious sustainability and climate
targets
• Lenzing remains a sustainability champion and prepares for the
European Green Deal
Lenzing – The Lenzing Group, a leading global producer of regenerated
cellulosic fibers for the textile and nonwovens industries, has published
a combined annual and sustainability report for the first time,
reaffirming the strategic importance of social and environmental
responsibility for the company. The report on the 2023 financial year was
once again prepared in digital form and is now available at
[1]reports.lenzing.com: With the title “Ready to join?”, Lenzing would
like to extend an invitation to all customers and partners to join forces
to renew the textile and nonwovens industries and bring about positive
change.
“This annual and sustainability report is also an invitation to find
answers together. Lenzing is working tirelessly to make the industries in
which it operates even more sustainable and to drive the transformation of
the textile business model from linear to circular. For this
transformation to be successful, further efforts by the entire industry
and a policy designed to ensure a level playing field for sustainability
pioneers are needed,” says Stephan Sielaff, CEO of the Lenzing Group. “I
wish you an informative read. Let our innovative projects inspire you, let
us rethink structures and processes and work together to bring about
positive change!”
Striving towards net-zero
Lenzing has invested more than EUR 200 mn in recent years to modernize its
existing production sites in China and Indonesia. The conversion measures,
which were aimed at upgrading capacities for ecologically responsible
specialty fibers and at the same time significantly reducing specific
emissions, were successfully implemented in 2023. Lenzing reached an
important strategic milestone in the reporting year with the certification
of the LENZING™ ECOVERO™ and VEOCEL™ branded specialty viscose produced at
the Indonesian site by the internationally recognized EU Ecolabel[2]^[1].
Lenzing also made further progress in achieving its sustainability and
climate targets. For example, the company reduced its absolute greenhouse
gas emissions by 19 percent (scope 1, 2 and 3; compared to the base year
2021) and its specific sulfur emissions to air by 58 percent (compared to
the base year 2014).
To align its commitment to fighting climate change with the goals of the
Paris Agreement to limit the man-made global temperature increase to 1.5
degrees Celsius, Lenzing recently updated its climate targets. The Science
Based Targets Initiative (SBTi), the most respected organization in the
field of climate-related target setting, has reviewed and confirmed this
target improvement.
Lenzing is the first producer of regenerated cellulosic fibers with a
scientifically confirmed net-zero target. By 2030, Lenzing aims to reduce
its direct emissions from the production of its fiber and pulp plants
(scope 1) and its emissions from purchased energy (scope 2) by 42 percent
and its indirect emissions along the value chain (scope 3) by 25 percent,
starting from 2021. This corresponds to an absolute reduction of 1,100,000
tons (instead of the previously targeted 700,000 tons).[3]^[2]
Transformation to a circular economy
In line with the “Better Growth” strategy, Lenzing is also driving forward
the topic of recycling in order to accelerate the transformation of the
textile and nonwovens industries from a linear to a circular economy
model. Lenzing has been proactively developing and promoting innovation in
the field for years to provide economically viable and scalable solutions
to the global textile waste problem. Since 2021, Lenzing has been working
with the Swedish pulp producer Södra to jointly develop new processes for
recycling used textiles on an industrial scale. The project was supported
with an EU grant of EUR 10 mn in the reporting year as part of the [4]LIFE
2022 program.
With the expansion of its REFIBRA™ technology to include LENZING™ ECOVERO™
fibers, Lenzing also set new standards in product development in the
textile industry. The new viscose fibers with REFIBRA™ technology contain
up to 20 percent post-consumer textile waste, which is obtained from
cellulose-rich materials or polyester-cotton blends. With the successful
development and scaling of production, LENZING™ ECOVERO™ fibers with
REFIBRA™ technology are now available to customers worldwide.
“Champion of sustainability”
In 2023, Lenzing has once again been recognized by the most renowned
rating agencies and organizations for its performance in the field of
sustainability and its high level of transparency in reporting. For the
third year in a row, Lenzing received a place on the annual “A-List” in
all categories of the global non-profit environmental organization CDP.
This makes Lenzing one of only 10 companies worldwide to receive a triple
“A” – out of over 21,000 companies assessed. Lenzing was also once again
awarded platinum status in the EcoVadis CSR rating. This puts Lenzing in
the top one percent of companies rated by EcoVadis worldwide. MSCI awarded
Lenzing an “AA” rating for the third time in a row, placing the company
among the top eight percent of rated companies in its peer group.
Fit for the Green Deal
With regard to the Green Deal, Lenzing is making a significant positive
contribution to the EU targets with the measures it has taken and, thus,
proactively mitigating supply chain risks for customers and risks for
other stakeholders. With its scientifically recognized and confirmed
net-zero target (scope 1, 2 and 3), Lenzing actively supports climate
protection measures. Lenzing has also taken the first steps to meet the
future requirements of the planned EU supply chain law (Corporate
Sustainability Due Diligence Directive, CSDDD) by starting to carry out an
impact analysis and the assessment of suppliers by EcoVadis or the
Together for Sustainability audit.
The certifications by the Higg Facility Environmental Module (FEM), the
Higg Facility Social and Labor Module (FSLM) and the ZDHC Foundation are
also proof of Lenzing’s leading position in the area of transparency in
production and management; seven production sites of the Lenzing Group
were assessed by the independent Higg Facility Environmental Module (FEM)
and achieved excellent results in 2023.
As a sustainability pioneer, Lenzing also supports the draft Green Claims
Directive with the aim of curbing greenwashing and better enabling
consumers to make informed purchasing decisions based on reliable
environmental information about the products they buy. In its
sustainability reporting for 2022 and 2023, Lenzing also took into account
core elements of the new European Sustainability Reporting Standards
(ESRS).
The sustainability report and the consolidated non-financial statement of
the Lenzing Group are part of the annual report for the first time in
2023, 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.
The results for the 2023 financial year were published in a separate press
release, which you can read here:
[5] https://www.lenzing.com/newsroom/press-releases.
Photo download:
[6] https://mediadb.lenzing.com/pinaccess/showpin.do?pinCode=U4hxFdYQHFnw
PIN: U4hxFdYQHFnw
Your contact for
Public Relations: Corporate Sustainability:
Dominic Köfner Krishna Manda
Vice President Corporate Vice President Corporate Sustainability
Communications & Public Affairs Lenzing Aktiengesellschaft
Lenzing Aktiengesellschaft Werkstraße 2, 4860 Lenzing, Austria
Werkstraße 2, 4860 Lenzing,
Austria Telefon +43 7672 701 3417
E-Mail
Phone +43 7672 701 2743 [9]sustainability@lenzing.com
E-mail [7]media@lenzing.com Web [10]www.lenzing.com
Web [8] www.lenzing.com
About the Lenzing Group
The Lenzing Group stands for eco-responsible production of specialty
fibers based on cellulose and recycled material. 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 functional, comfortable and fashionable clothing to durable
and sustainable home textiles. Due to their special properties and their
botanical origin, the TÜV certified biodegradable and compostable Lenzing
fibers are also highly suitable for everyday hygiene products.
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 transform the textile industry from the current linear economic
system towards a circular economy. In order to reduce the speed of global
warming and thus also support the targets of the Paris Agreement and the
EU Commission’s “Green Deal”, Lenzing has developed a clear science-based
climate action plan that aims to significantly reduce greenhouse gas
emissions by 2030 and a net-zero goal (scope 1, 2 and 3) by 2050.
Key Facts & Figures Lenzing Group 2023
Revenue: EUR 2.52 bn
Nominal capacity: 1,110,000 tonnes
Employees (FTE): 7,917
TENCEL™, LENZING™ ECOVERO™, VEOCEL™, LENZING™ and REFIBRA™ are trademarks
of Lenzing AG.
[11]^[1] The EU Ecolabel is recognized by all Member States of the
European Union as well as Norway, Liechtenstein and Iceland. Introduced in
1992 by an EU regulation (Regulation (EEC) No. 880/92), the voluntary
label has gradually developed into a reference point for consumers who
want to contribute to a lower environmental impact by purchasing more
environmentally friendly products and services.
[12]^[2] The climate targets of the Lenzing Group approved by SBTi are
absolute reduction targets starting from the base year 2021; in contrast
to the previous intensity-based, relative climate targets starting from
the base year 2017.
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15.03.2024 CET/CEST This Corporate News was distributed by EQS Group AG.
www.eqs.com
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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: 1859311
End of News EQS News Service
1859311 15.03.2024 CET/CEST
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