Lenzing AG

12/08/2020 | Press release | Distributed by Public on 12/09/2020 02:51

Lenzing recognized as sustainability champion by renowned CDP

Lenzing - The Lenzing Group has been recognized by the global environmental non-profit CDP, securing a place on its prestigious 'A List' for tackling climate change, as well as acting to protect forests. Through significant demonstrable action in these areas, Lenzing is leading on corporate environmental ambition, action and transparency worldwide.

CDP's annual environmental disclosure and scoring process is widely recognized as the gold standard of corporate environmental transparency. This year, more than 5,800 companies were scored based on data submitted through CDP's questionnaires.

'We are particularly proud to be the only first-time discloser who has achieved an 'A' score for tackling climate change and acting to protect forests. The double 'A' score reconfirms our long-term sustainability strategy and is an exciting acknowledgement of our efforts on transparency as well as sustainable raw material sourcing', says Stefan Doboczky, CEO of the Lenzing Group. 'This recognition will boost our visibility among a broad group of important stakeholders.'

Lenzing's key actions to tackle climate change

Lenzing became the world's first producer of wood-based cellulosic fibers making a strategic commitment to cut its CO2 emissions per ton of product by 50 percent by 2030. This target has been scientifically verified and approved by the Science Based Targets initiative. Furthermore, Lenzing aims for Net-Zero emissions by the year 2050.

Important milestones this year in Lenzing's journey to carbon neutrality were the introduction of the first TENCEL™ branded CarbonNeutral® fibers, a blockchain-enabled traceability platform as well as the execution of CO2 reducing energy solutions at its production sites in Lenzing (AT) and Nanjing (PRC). These milestones are an integral part of Lenzing's sustainability strategy since they help to combat climate change and trigger a new level of transparency along the entire value chain. In addition to that, pioneering technologies like REFIBRA™ and 'Eco Cycle' contribute to a circular economy by combining the environmentally responsible lyocell fiber production with the upcycling of cotton waste materials.

The new pulp plant in Brazil, which will even export green energy to the local grid and a state-of-the-art carbon neutral lyocell fiber production site in Thailand will be the major contributors to driving down Lenzing's carbon footprint in the coming 18 months.

Lenzing's key actions to protect forests

Next to its afforestation project in Albania, Lenzing has been recognized for a decades-long clean record of sustainable wood sourcing, with more than 99 percent of its wood and pulp sources being either certified by FSC®[1] or PEFC[2], or controlled in line with these standards.

Paul Simpson, CEO of CDP, says: 'We extend our congratulations to all the companies on this year's 'A List'. Taking the lead on environmental transparency and action is one of the most important steps businesses can make, and is even more impressive in this challenging year marked by COVID-19. The scale of the risk to businesses from climate change, deforestation and water insecurity is enormous, and we know the opportunities of action far outweigh the risks of inaction. Leadership from the private sector will create an 'ambition loop' for greater government action and ensure that global ambitions for a net zero sustainable economy become a reality. Our 'A List' celebrates those companies who are preparing themselves to excel in the economy of the future by taking action today.'

How companies enter the 'A List' - process and methodology

In 2020, over 515 investors with over US$106 trillion in assets and 150+ major purchasers with US$4 trillion in procurement spend requested companies to disclose data on environmental impacts, risks and opportunities through CDP's platform. Over 9,600 responded - the highest ever.

A detailed and independent methodology is used by CDP to assess these companies, allocating a score of A to D- based on the comprehensiveness of disclosure, awareness and management of environmental risks and demonstration of best practices associated with environmental leadership, such as setting ambitious and meaningful targets. Those that don't disclose or provided insufficient information are marked with an F.

CDP's scoring for forests is conducted through the lens of the four commodities that cause most deforestation: timber products, cattle products, soy and palm oil. Companies need to score an A on at least one of these forest-risk commodities to earn a place on the Forests 'A List'.

The full list of companies that made this year's CDP 'A List' is available here, along with other publicly available company scores: https://www.cdp.net/en/companies/companies-scores

[1] FSC-C041246

[2] PEFC/06-33-92