EQS-News: Lenzing AG / Key word(s): Sustainability
Lenzing AG: “Advancing Circularity”: Lenzing presents its online
Sustainability Report 2022
30.03.2023 / 07:30 CET/CEST
The issuer is solely responsible for the content of this announcement.
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“Advancing Circularity”: Lenzing presents its online Sustainability Report
2022
• Lenzing continues to drive the industry’s transition to circularity
• Lenzing is clearly on course to meet the group-wide carbon neutrality
target
• Top ratings from CDP, MSCI, EcoVadis and Canopy: Lenzing receives
multiple “sustainability champion” awards once again
Lenzing – The Lenzing Group, a world-leading provider of specialty fibers
for the textile and nonwoven industries, has published its Sustainability
Report 2022 today. The title of “Advancing Circularity” underlines the
company’s efforts to drive forward the transformation from a linear to a
circular business model in the textile and nonwoven industries. The report
was produced in accordance with the standards of the Global Reporting
Initiative (GRI) and the Austrian Sustainability and Diversity Improvement
Act (NaDiVeG), and was audited by KPMG Austria GmbH Wirtschaftsprüfungs-
und Steuerberatungsgesellschaft.
“Sustainability is a core component of our business strategy. This report
details our combined achievements in environmental, economic and social
aspects and our continuous commitment to creating a future in which
circularity is the norm. You are warmly invited to take a look at our
Sustainability Report 2022 and share your thoughts with us,” says Robert
van de Kerkhof, Member of the Managing Board at Lenzing Group.
New corporate strategy: “Better Growth”
A comprehensive review of the corporate strategy was also conducted in the
reporting year. “Better Growth” was designed as a roadmap for the next
five years with a focus on maintaining a leading role in the field of
sustainable specialty fibers in an unpredictable economic environment. As
a company, Lenzing has the dual aim of being commercially successful and
providing a positive contribution to society. Consequently, Lenzing will
continue to pursue its profitable growth path following the successful
implementation of the two key projects in Thailand and Brazil, sharpen its
focus on sustainable and high-quality premium fibers for textiles and
nonwovens, and further advance the transition from a linear to a circular
business model.
Aiming for a carbon-neutral future
Lenzing also made further progress in meeting its climate targets in the
reporting year. The launch of the new lyocell plant in Prachinburi
(Thailand) in March marked a key milestone on Lenzing’s path to achieving
net-zero emissions by 2050. The site is wholly powered by sustainable
energy derived from biomass and is the largest of its kind in lyocell
fiber production. Lenzing also began to convert its site in Nanjing
(China) to green electricity in September. As of 2023, the site is almost
entirely powered by green electricity, which will reduce carbon emissions
by 100,000 tonnes annually.
The new pulp mill in Brazil, which feeds surplus bioenergy into the
Brazilian grid, represents the largest investment that Lenzing has ever
made in dissolving wood pulp supply for wood-based fiber production. This
has led to further investments in sustainable plantations that provide the
requisite raw materials. In 2023, 70,000 hectares of a sustainably managed
plantation will be required to ensure stable production in the long term.
Lenzing was already highly successful in this regard in 2022, achieving
57,000 hectares by the end of the year. This will allow Lenzing to make
further progress in meeting its climate targets by minimizing the
environmental risks involved in procuring raw materials.
The installation of the largest ground-mounted photovoltaic system in
Upper Austria at the Lenzing site marked another strategic milestone for
the company in October 2022. The system converts sunlight into
electricity, which is one of the most cost-effective means of producing
green energy. Lenzing also signed an electricity supply contract with the
green electricity producer Enery and Energie Steiermark to construct
another photovoltaic system in Styria, Austria. The electricity produced
will begin supplying the Lenzing site at the end of 2023.
Lenzing remains a “sustainability champion”
Three global sustainability rating agencies recognized Lenzing’s
unwavering commitment to reducing its carbon footprint as well as its
efforts to meet the United Nations’ sustainable development goals in 2022.
Of the 15,000 companies scored worldwide by the non-profit organization
CDP, Lenzing was one of only twelve to be awarded an A rating for
environmentally responsible management in three categories (climate
change, water security and forestry) in December 2022. MSCI confirmed the
company's AA rating in the same month on the basis of its strong
performance relative to the sector average.
EcoVadis awarded platinum status to Lenzing, ranking it among the top one
percent of all companies rated worldwide in this sector. Its extensive
evaluation recognized Lenzing’s efforts in the four main areas of
corporate social responsibility, the environment, fair working conditions
and human rights, ethics and sustainable procurement.
In addition, Lenzing took first place in Canopy’s Hot Button ranking. The
Canadian non-governmental organization assesses global producers of
cellulosic fibers with regard to responsible wood and pulp procurement,
innovation and traceability. Canopy’s ranking also evaluates the
companies’ use of alternative commodities as well as their achievements in
protecting ancient and endangered forests. The Hot Button ranking confirms
that Lenzing’s practices are sustainably anchored.
Lenzing also took second place in the Transformational Climate Change
Solutions category of the Financial Times 2022 Transformational Business
Awards. The highly efficient pulp mill of the LD Cellulose joint venture
in Brazil received a special commendation for its contribution to a more
sustainable textile industry by providing the necessary pulp to produce
wood-based fibers.
For more information on the Lenzing Group’s sustainability targets,
progress and other prestigious awards for its sustainable products and
services, please see the online Sustainability Report 2022 at
[1]reports.lenzing.com/sustainability-report/2022/index.html.
Photo download:
[2]https://mediadb.lenzing.com/pinaccess/showpin.do?pinCode=41365d7bngtJ
PIN: 41365d7bngtJ
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 Phone +43 7672 701 3417
E-mail
Phone +43 7672 701 2743 [5]sustainability@lenzing.com
E-mail [3]media@lenzing.com Web [6]www.lenzing.com
Web [4]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 2022
Revenue: EUR 2.57 bn
Nominal capacity (fibers): 1,145,000 tonnes
Number of employees (headcount): 8,301
TENCEL™, VEOCEL™, LENZING™, REFIBRA™, ECOVERO™, LENZING MODAL™, LENZING
VISCOSE™, MICROMODAL™ and PROMODAL™ are trademarks of Lenzing AG.
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30.03.2023 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: 1596111
End of News EQS News Service
1596111 30.03.2023 CET/CEST
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