EQS-News: Lenzing AG / Key word(s): Sustainability
Lenzing raises the bar significantly in the fight against the climate
crisis and aligns its targets with the 1.5-degree limit
15.02.2024 / 10:00 CET/CEST
The issuer is solely responsible for the content of this announcement.
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Lenzing raises the bar significantly in the fight against the climate
crisis and aligns its targets with the 1.5-degree limit
• Updated GHG emissions reduction targets recognized and confirmed by
Science Based Targets Initiative
• Lenzing is the only company in its industry with a scientifically
confirmed net zero target
• 1,100,000 tons of CO(2) emissions to be reduced by 2030 (instead of
the previously targeted 700,000 tons)
Lenzing – The Lenzing Group, a leading global producer of regenerated
cellulosic fibers for the textile and nonwovens industries, has updated
its climate targets to align with the goals of the Paris Agreement to
limit the human-induced global temperature increase to 1.5 degrees
Celsius. 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.
This makes Lenzing the only 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 on the way to net zero, from 2021 baseline. This corresponds to an
absolute reduction of 1,100,000 tons (instead of the previously targeted
700,000 tons).(1)^(1)
“At Lenzing, we have the ambition to positively change the textile and
nonwovens industries. This is precisely what makes a noticeable difference
to other companies and is also the basis for long-term success,” says
Stephan Sielaff, CEO of the Lenzing Group. “We set ourselves ambitious
goals and pursue concrete measures to achieve them. This enables us to
continuously increase our resilience to external influences such as the
energy crisis and, on the other hand, to better meet the growing customer
demand for eco-responsible products.”
Christian Skilich, Chief Pulp Officer and Chief Technology Officer of the
Lenzing Group: “With our reduction targets, we are making a decisive
contribution to meeting the 1.5-degree limit, which must be the benchmark
for our corporate decision-making and actions. We will continue to invest
in energy savings and new technological developments and therefore I am
confident that we are on the right track towards achieving our net-zero
target by 2050.”
The following targets were recognized and confirmed by the SBTi:
1. Overall net-zero target: Lenzing AG commits to reach net-zero
greenhouse gas emissions along the entire value chain by 2050.
2. Near-term targets: Lenzing AG commits to reduce absolute scope 1 and
scope 2 greenhouse gas emissions by 42 percent by 2030 from a base
year 2021*. Lenzing AG also commits to reduce absolute scope 3
greenhouse gas emissions from purchased goods and services, fuels and
energy-related activities as well as upstream transport and
distribution by 25 percent within the same timeframe.
3. Long-term targets: Lenzing AG commits to reduce absolute scope 1 and
scope 2 greenhouse gas emissions by 90 percent by 2050 from a base
year 2021(2)(2). Lenzing AG also commits to reduce absolute scope 3
greenhouse gas emissions by 90 percent within in the same timeframe.
These updated targets replace the old SBTi approved Lenzing Group’s
climate target in 2019.
Lenzing is taking far-reaching and sustainable measures to achieve these
ambitious goals. This is exemplified by the considerable investments in
the conversion and modernization of the existing production sites in Asia.
In China and Indonesia, Lenzing obtains grid electricity from 100%
renewable sources and is accelerating the switch to green energy of these
facilities. Lenzing is also investing in energy independence and the
reduction of greenhouse gases at its Austrian sites. In order to supply
the lyocell plant in Burgenland, Austria with renewable energy, Lenzing
acquired a biomass power plant in 2023. With the supply contract for the
purchase of around 13 megawatts of wind power, Lenzing is making a
long-term investment in a price-stable and diversified power supply for
the Upper Austrian site.
Photo download:
(3) https://mediadb.lenzing.com/pinaccess/showpin.do?pinCode=5Gn5mTRavye3
PIN: 5Gn5mTRAvye3 Your contact: 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 (6)sustainability@lenzing.com Email (4)media@lenzing.com Web (7) www.lenzing.com
Web (5) 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: 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.
(8)^(1) 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.
(9)^(2) The targets also include land-related emissions and extraction
from bioenergy feedstocks.
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15.02.2024 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: 1837533
End of News EQS News Service
1837533 15.02.2024 CET/CEST
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