· Lenzing sets net-zero CO2 emissions target by 2050
· Reduction of specific CO2 emissions by 50 percent until 2030
· Investment of more than EUR 100 mn to combat 1.3 Mt of CO2 emissions
· Commitment to follow the Science Based Targets concept
Lenzing – The Lenzing Group, a recognized leader in climate action, member of the CEO Climate Leaders Group of the World Economic Forum and a signatory to the United Nations Fashion Industry Charter for Climate Action, will drastically reduce its CO2 footprint. The Lenzing Group will invest EUR 100 mn over the coming years to reduce carbon emissions both inside its operational boundaries (scope 1+2) and in its supply chain (scope 3). Due to its ambitious CO2 emission reduction strategy, the Lenzing Group will further contribute towards helping customers to transition their business to a lower CO2 base. A first milestone is set for 2030, when Lenzing plans to reduce CO2 emissions per ton of product by almost 50 percent (scope 1+2 and 3) compared to a 2017 baseline. The total CO2 reduction of all the planned initiatives will yield 1.3 million tons (Mt). “Climate change is the most important issue mankind is facing. With this commitment we are fully in line with the Paris climate agreement and will further help the world to reduce the speed of global warming. Our ambitious decarbonization targets make us a front runner, not only in the world of fiber producers but also among major industrial companies. Despite the substantial investment that is necessary, we are convinced that this is not only a very responsible step but that it will also be a value-generating move”, says Stefan Doboczky, Chief Executive Officer of the Lenzing Group. “It is our responsibility towards our children and grandchildren to act now”, Doboczky adds. A series of measures in production as well as new innovations and adaptations to new technologies will help achieve these ambitious targets. A major contribution will also come from investments in the production of highly eco-responsible products such as TENCEL™ branded lyocell fibers. On top of that, the drastic improvement of energy efficiency and an increase in the share of renewable energy in the energy mix will deliver the targets set. “To underpin this strategy, Lenzing will commit itself to the Science Based Targets initiative, the most recognized organization in the field of climate-relevant target setting. This step is a significant contribution to green up the textile industry, and will help our partners to offer consumers textiles with an ecologically responsible footprint”, says Robert van de Kerkhof, Chief Commercial Officer of the Lenzing Group. Targets adopted by companies to reduce greenhouse gas emissions are considered “science based” if they are in line with the goals of the Paris Agreement.