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][email protected]
   E-mail   [7][email protected]          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

   ══════════════════════════════════════════════════════════════════════════

   Language:    English
   Company:     Lenzing AG
                4860 Lenzing
                Austria
   Phone:       +43 7672-701-0
   Fax:         +43 7672-96301
   E-mail:      [email protected]
   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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