“We firmly believe that the fiber industry will have to change in order to meet the ecological and social demands of the future. The issue of sustainability has been firmly embedded in our strategy for many years and is fundamental to our business success. Lenzing is an absolute pioneer in this field and we will continue to be a role model in the future, ”said Thomas Obendrauf, CFO of the Lenzing Group.
The upgrading of MSCI’s environmental, social and governance (ESG) rating will also lead to a reduction in Lenzing’s interest charges. Lenzing placed a bond loan for an amount of 500 million euros in November 2019, linked to its performance in terms of sustainable development. In accordance with its commitment under the bond placement, the company will donate all of the interest costs saved through the rating review of a project it supports, Lenzing said in a statement. communicated.
The Lenzing Group, the world’s leading supplier of specialty wood-based fibers, has received further recognition for its sustainability performance. The prestigious rating agency MSCI has raised the rating of the Lenzing group from A to AA. As a result, Lenzing ranks among the top 6 percent of the world’s top rated companies in its peer group.
The rating agency MSCI, whose rating determines the bond loan interest rate, cited the company’s ambitious climate goals, its approach to promoting a circular economy and an exceptionally good governance structure as the main reasons for the upgrade.
Lenzing is actively involved in tackling climate change issues by implementing its scientific goals. In 2019, Lenzing has set itself the strategic objective of halving its greenhouse gas emissions per tonne of product by 2030. Its vision for 2050 is to achieve climate neutrality. The implementation of two key projects in Brazil and Thailand is an important step in this process, while investments in its existing sites in Asia are also consistent with Lenzing’s decarbonization goals.
Another important step in Lenzing’s efforts to implement its ambitious climate and sustainability goals is its collaboration with Swedish pulp producer Södra. These two global market leaders, who have been proactively engaged in promoting a circular economy in the fashion industry for many years, are pooling their resources to advance this issue and make a vital contribution to solving the problem of global textile waste.
Lenzing has received numerous awards for his performances in 2021, notably in the area of sustainability. Its rating from EcoVadis in terms of corporate social responsibility is particularly noteworthy. Having achieved platinum status for the first time, Lenzing ranks among the top 1% of the most valued companies in the world based on their approach to the environment, fair working conditions and human rights, as well only ethics and sustainable purchasing.
Fibre2Fashion Press Office (RR)