A more transparent supply chain and individual traceability for every item: the strategic partnership with retraced represents another important milestone in the Marc O’Polo sustainability strategy.
With an “AA” rating, Lenzing is among the top six percent of the industry worldwide. The rating is further evidence of Lenzing’s leading role in the field of sustainability.
Lenzing – The Lenzing Group, the world’s leading supplier of wood-based specialty fibers, has once again been recognized for its achievements in the field of sustainability. The renowned rating agency MSCI upgraded the Lenzing Group’s rating from “A” to “AA” as of September 2021. Lenzing is therefore one of the top six percent of the companies rated in its comparison group.
“We are convinced that the fiber industry has to change so that it can also meet the ecological and social requirements of the future. The topic of sustainability has been firmly anchored in our strategy for many years and is an elementary factor for our economic success. Lenzing is an absolute pioneer in this area and we will continue to set a good example, ”says Thomas Obendrauf, Chief Financial Officer of Lenzing Group.
The better MSCI ESG rating also means a reduction in interest expenses for Lenzing. In November 2019, Lenzing placed a borrower’s note loan for EUR 500 million, which is linked to its own sustainability performance. The company will donate the entire amount of interest savings resulting from the revaluation to a project it supports in accordance with its commitment as part of the placement of the promissory note loan.
Vision of a CO 2 -free future
The rating agency MSCI, to whose rating the interest rate is linked, referred in the reason for their upgrade in particular to the company’s ambitious climate goals, its approach to promoting a circular economy and the above-average governance structure.
With the implementation of its science-based targets, Lenzing makes an active contribution to overcoming the problems caused by climate change. In 2019, Lenzing made a strategic commitment to reduce its greenhouse gas emissions per ton of product by 50 percent by 2030. The vision for 2050 is to be climate neutral. The implementation of the two key projects in Brazil and Thailand is an important milestone on this path, but the investments in the existing Asian locations are also in line with Lenzing’s decarbonization goals.
Another milestone in Lenzing’s efforts to implement its ambitious climate and sustainability goals is the cooperation with the Swedish pulp producer Södra. The two world market leaders, who have been proactively promoting the circular economy in the fashion industry for many years, are joining forces to give the topic a further boost and to make a decisive contribution to solving the global textile waste problem.
Platinum status with EcoVadis
In 2021, Lenzing received several awards for its achievements, especially in the area of sustainability: The evaluation by EcoVadis in the area of corporate social responsibility deserves special mention. Lenzing achieved platinum status for the first time and is therefore among the top one percent of the companies rated in terms of the environment, fair working conditions and human rights as well as ethics and sustainable procurement.
The non-profit environmental organization Carbon Disclosure Project (CDP) once again honored Lenzing’s efforts in the fight against climate change. The placement in CDP’s so-called “Supplier Engagement Leaderboard” is based on the company’s leading role in working with suppliers.
