From the Sector

Reset
23 results
Sustainable Apparel Forum (SAF) organized in Dhaka to Accelerate Apparel Sustainability in Post-Covid (c) Bangladesh Apparel Exchange
Hall View Sustainable Apparel Forum
18.05.2022

News from Sustainable Apparel Forum (SAF)

  • Sustainable Apparel Forum (SAF) organized in Dhaka to Accelerate Apparel Sustainability in Post-Covid

Policy makers, industry leaders, brands’ representatives and fashion campaigners from home and abroad gathered in Dhaka yesterday to accelerate momentum of sustainability in Bangladesh apparel industry.

More than 50 speakers as well as 20 green growth exhibitors from over 20 countries participated in the 3rd edition of Sustainable Apparel Forum (SAF) organized by Bangladesh Apparel Exchange (BAE) partnering with Bangladesh Garment Manufacturers & Exporters Association (BGMEA).

Five plenary sessions on ‘Demystifying Climate Action’, ‘Purchasing Practice’, ‘ESG (Environmental, Social & Governance) & Green Finance’, ‘Closing the Loop: Circular Economy in the Fashion Industry’, and ‘Due Diligence and Legislation’ held at the SAF along with an opening plenary and a closing plenary.  

  • Sustainable Apparel Forum (SAF) organized in Dhaka to Accelerate Apparel Sustainability in Post-Covid

Policy makers, industry leaders, brands’ representatives and fashion campaigners from home and abroad gathered in Dhaka yesterday to accelerate momentum of sustainability in Bangladesh apparel industry.

More than 50 speakers as well as 20 green growth exhibitors from over 20 countries participated in the 3rd edition of Sustainable Apparel Forum (SAF) organized by Bangladesh Apparel Exchange (BAE) partnering with Bangladesh Garment Manufacturers & Exporters Association (BGMEA).

Five plenary sessions on ‘Demystifying Climate Action’, ‘Purchasing Practice’, ‘ESG (Environmental, Social & Governance) & Green Finance’, ‘Closing the Loop: Circular Economy in the Fashion Industry’, and ‘Due Diligence and Legislation’ held at the SAF along with an opening plenary and a closing plenary.  

10.05.2022

Stahl releases annual ESG report with focus on sustainability and transparency

Stahl, an active proponent of responsible chemistry, has published its 2021 Environment, Social, and Governance (ESG) Report. The report outlines the company’s sustainable development ambitions and its achievements over the year. It also features Stahl’s ambitious climate mitigation targets for 2030, such as the transition to more renewable feedstocks.

Stahl, an active proponent of responsible chemistry, has published its 2021 Environment, Social, and Governance (ESG) Report. The report outlines the company’s sustainable development ambitions and its achievements over the year. It also features Stahl’s ambitious climate mitigation targets for 2030, such as the transition to more renewable feedstocks.

The 2021 Stahl ESG Report is a cornerstone of Stahl’s commitment to reporting transparently on its progress toward a more sustainable chemicals value chain. This acknowledges the important role that industry must play in tackling climate change while enabling a higher quality of life for more people. A key focal point of the new report is a progress update on Stahl’s ESG Roadmap. Introduced last year, this ten-year plan outlines the company’s ESG commitments and targets for 2023 and 2030.
 
Climate action
Stahl is focused on mitigating climate change by reducing greenhouse gas (GHG) emissions from all activities over which it has influence. This includes investing in renewable energy and process efficiencies to lower the GHG emissions caused directly by Stahl’s own operations and the energy used to power them. On this point, progress was made toward the 2023 and 2030 targets in 2021, including a reduction in Scope 1 and 2 CO2 emissions of 15%. Also covered are Stahl’s indirect value-chain impacts, for example, from the raw materials it buys. Looking beyond Stahl’s direct environmental impacts and fostering greater supply-chain transparency will be vital for tackling emissions on a wider scale.

Creating responsible chemistry, together
In 2021, advances were made regarding the company’s diversity and safety targets, which are areas of continuous improvement. Stahl is committed to ensuring a safe working environment, as well as nurturing a diverse and inclusive workplace to continuously improve employee skills.

EcoVadis Gold rating
Fostering ethical behavior through exemplary leadership and governance is key to Stahl’s ambitions. Achieving the EcoVadis Gold rating was an important milestone in this respect. This well-established award reflects the company’s ongoing commitment to supply chain transparency and working with partners to improve the sustainability of its products and operations.

Source:

Stahl Holdings B.V.

26.04.2022

Lenzing Annual General Meeting approves all agenda items

  • Dividend of EUR 4.35 per share approved
  • Lenzing Supervisory Board reduced from ten to nine elected members
  • Dipl.-Bw. Peter Edelmann steps down from the Supervisory Board at his request
  • Cord Prinzhorn, MBA, elected Chairman of the Supervisory Board

The 78th Annual General Meeting of Lenzing AG on April 26, 2022, passed a resolution to pay a dividend of EUR 4.35 per share in accordance with the Managing Board’s profit distribution proposal, which had been approved by the Supervisory Board. As a consequence, the payment of the dividend amounts to a total of EUR 115,492,500. The payment will be made on May 03, 2022.

  • Dividend of EUR 4.35 per share approved
  • Lenzing Supervisory Board reduced from ten to nine elected members
  • Dipl.-Bw. Peter Edelmann steps down from the Supervisory Board at his request
  • Cord Prinzhorn, MBA, elected Chairman of the Supervisory Board

The 78th Annual General Meeting of Lenzing AG on April 26, 2022, passed a resolution to pay a dividend of EUR 4.35 per share in accordance with the Managing Board’s profit distribution proposal, which had been approved by the Supervisory Board. As a consequence, the payment of the dividend amounts to a total of EUR 115,492,500. The payment will be made on May 03, 2022.

The Annual General Meeting formally discharged the members of the Managing Board and the Supervisory Board from liability for the 2021 financial year, and set in advance the remuneration for the members of the Supervisory Board for the 2022 financial year. In addition, a vote was hold concerning the principles for the remuneration of the members of the Managing Board and the Supervisory Board (remuneration policy). The remuneration policy of Lenzing AG for the performance-based remuneration of the Managing Board is linked not only to financial performance criteria but also to non-financial sustainability criteria (ESG), which further promote the sustainable business strategy.

Elections to the Supervisory Board
Dipl.-Bw. Peter Edelmann stepped down from the Supervisory Board upon his own request, at the end of the Annual General Meeting. Mr. Edelmann has served as a member of the Supervisory Board since 2018 and as its Chairman since 2019, as well as on all committees of Lenzing AG.

The Annual General Meeting passed a resolution to extend the Supervisory Board mandates of Mag. Patrick Prügger (until the AGM that passes related resolutions concerning the 2022 financial year) and of Dr. Astrid Skala-Kuhmann (until the AGM that passes related resolutions concerning the 2025 financial year).

The Supervisory Board of Lenzing AG now consists of nine members elected by the AGM: Mag. Helmut Bernkopf, Dr. Christian Bruch, Dr. Stefan Fida, Dr. Markus Fürst, Dr. Franz Gasselsberger, Melody Harris-Jensbach, Cord Prinzhorn, MBA, Mag. Patrick Prügger and Dr. Astrid Skala-Kuhmann. Herbert Brauneis, Ing. Daniela Födinger, Helmut Kirchmair, Georg Liftinger und Johann Schernberger were appointed to the Supervisory Board by the Works Council.

At the constitutive Supervisory Board meeting following the AGM, Cord Prinzhorn, MBA, who had returned to the Supervisory Board after serving as CEO on an interim basis, was elected Chairman, and Dr. Stefan Fida was elected Deputy Chairman of the Supervisory Board.

Source:

Lenzing AG

(c) Bangladesh Apparel Exchange (BAE)
25.04.2022

The Sustainable Apparel Forum brings together government representatives and industry leaders

The Sustainable Apparel Forum takes place on 10 May 2022 in Dhaka, Bangladesh, bringing together government ministers and advisors, the European Union, UN bodies, brands, global fashion campaigners, brands, manufacturers and industry leaders.

This year’s SAF, the third such event, aims to establish Bangladesh as one of the world’s most responsible apparel sourcing destinations. That’s why senior government representatives will be speaking and in attendance, listening to the needs of industry and what needs to be done to take Bangladesh garment production to the next level.

Senior representatives from globally renowned recycling and renewable energy companies will also be in attendance as well as exhibit their sustainability and green technologies, products and solutions under the same roof.

The SAF will showcase opportunities for much-needed green financing in the industry.
Issues under the spotlight will include climate action, environmental social & governance (ESG) and green finance, purchasing practices, circular economy, and regulatory reforms.

The Sustainable Apparel Forum takes place on 10 May 2022 in Dhaka, Bangladesh, bringing together government ministers and advisors, the European Union, UN bodies, brands, global fashion campaigners, brands, manufacturers and industry leaders.

This year’s SAF, the third such event, aims to establish Bangladesh as one of the world’s most responsible apparel sourcing destinations. That’s why senior government representatives will be speaking and in attendance, listening to the needs of industry and what needs to be done to take Bangladesh garment production to the next level.

Senior representatives from globally renowned recycling and renewable energy companies will also be in attendance as well as exhibit their sustainability and green technologies, products and solutions under the same roof.

The SAF will showcase opportunities for much-needed green financing in the industry.
Issues under the spotlight will include climate action, environmental social & governance (ESG) and green finance, purchasing practices, circular economy, and regulatory reforms.

Speakers of the SAF include Dr Tawfiq-e-elahi Chowdhury, Bir Bikrom, adviser to the Prime Minister of Bangladesh on power, energy and mineral resources; Salman F Rahman, MP, adviser to the Prime Minister of Bangladesh on private industry & investment; Tipu Munshi, MP, commerce minister of Bangladesh; Begum Monnujan Sufian, MP, state minister for labor and employment of Bangladesh; Saber Hossain Chowdhury, MP, chairman of parliamentary standing committee on ministry of environment, forest and climate change of Bangladesh;  Anna Athanasopoulou, head of unit for social economy & creative industries European Commission;  Barbara Bijelic, financial sector and regulatory engagement lead centre for responsible business conduct, OECD;  Lindita Xhaferi-Salihu, sectors engagement lead, UNFCCC; Gagan Bansal, global material innovation & strategy manager, H&M; Javier Santonja Olcina,  regional head, Bangladesh & Pakistan, Inditex; Faruque Hassan, president, Bangladesh Garment Manufacturers & Exporters Association (BGMEA); Dr Mark Anner, founding director, Center for Global Workers’ Rights and also professor, Penn State University, USA; Ayesha Barenblat, founder and CEO, Remake;  Najet Draper, vice president research, Better Buying; and  Tuomo Poutiainen,  country director, Bangladesh, ILO.

Source:

Bangladesh Apparel Exchange (BAE)

Hypetex at JEC World 2022 (c) Hypetex
Hypetex® to Showcase Coloured Carbon and Flax Fibre Solutions
20.04.2022

Hypetex at JEC World 2022

  • Hypetex® to Showcase Coloured Carbon and Flax Fibre Solutions
  • Hypetex, London, April 20 2022, Booth R52, Hall 6

Hypetex, the market leaders in colouring carbon and natural fibre materials, will demonstrate both the processing and sustainability benefits of its patented colourisation technology when it exhibits for the first time at JEC World 2022.

  • Hypetex® to Showcase Coloured Carbon and Flax Fibre Solutions
  • Hypetex, London, April 20 2022, Booth R52, Hall 6

Hypetex, the market leaders in colouring carbon and natural fibre materials, will demonstrate both the processing and sustainability benefits of its patented colourisation technology when it exhibits for the first time at JEC World 2022.

Exhibiting as part of the Composites UK stand (Booth R52), Hypetex will display its portfolio of uniquely coloured carbon fibre materials including 3K woven styles, ultra-lightweight spread tow fabrics, UD, and 3D materials. Hypetex will also present details of its latest eco-friendly coloured flax materials  which combine sustainably grown natural flax with sustainable colouring technologies. Hypetex patented colouring technology, available in an extensive palette of standard and bespoke colours and shades, can be applied to traditional woven fabric constructions, non-woven UDs, spread tow and bespoke fabric designs. The technology replaces a traditional coloured painted finish, providing an exceptional depth of colour to any composite part, improving thermal conductivity and reducing heat absorption ,whilst reducing the overall weight and processing time with no compromise to the mechanical performance of the composite structure.

By removing the need for painting, and the associated preparation steps, Hypetex technology provides manufacturers with a repeatable straight out of the mould coloured finish, that is not only easy to integrate into all composite processes, but also takes additional materials, consumables, and process time out of the component cost. As part of its continued commitment to leading the drive for more sustainable composite solutions, and its focus on improvements based on the ESG framework. Hypetex will also display its new range of coloured flax fibre textiles. The advanced colouring technology used protects the natural flax fibres throughout the high temperature processes required for composite production, avoiding burning or any discolouration issues common to natural fibres. In addition, Hypetex colouring solution is an ecofriendly sustainable alternative to traditional dyeing processes which are a significant cause of global water pollution.

The Hypetex team will be on hand throughout the show to provide additional details on Hypetex materials and their integration into the manufacturing process. Visitors to the Hypetex stand will be able see Hypetex carbon and flax products in raw fabric, and how its unique colour palette translates into the most distinctive finished moulded components. Hypetex partners SHD Composites, Textreme, Sigmatex and Angeloni will also have materials and components on display at JEC World 2022, including sporting equipment such as racquets, sticks, and skateboards, which highlight the massive range of processing options and potential applications for this novel technology. One such application, the adidas Kromaskin field hockey stick, with a unique Hypetex coloured Textreme spread tow carbon finish, will also be part of the JEC Innovation Planets feature.

Source:

100% Marketing

29.03.2022

Esprit Announces Annual Results for FY2021

  • Revenue Increases to HK$8,316 Million with Net Profit After Tax Surging Significantly
  • Recording a Turnaround to HK$381 Million
  • Re-Establishes ESPRIT’s Market Leadership

ESPRIT HOLDINGS LIMITED has announced its audited financial annual results for the year ended 31 December 2021, highlighted by a significant increase in both revenue and profit attributable to shareholders of the Company to HK$8,316 million and HK$381 million respectively, in which the profit attributable to shareholders of the Company also recorded a turnaround versus the loss attributable to shareholders of the Company of HK$414 million for the six months ended 31 December 2020. Gross profit margin was 48.6%, 7.0% higher than the Corresponding Period. Please refer to the Company’s results announcement for the Current Year for further details.

  • Revenue Increases to HK$8,316 Million with Net Profit After Tax Surging Significantly
  • Recording a Turnaround to HK$381 Million
  • Re-Establishes ESPRIT’s Market Leadership

ESPRIT HOLDINGS LIMITED has announced its audited financial annual results for the year ended 31 December 2021, highlighted by a significant increase in both revenue and profit attributable to shareholders of the Company to HK$8,316 million and HK$381 million respectively, in which the profit attributable to shareholders of the Company also recorded a turnaround versus the loss attributable to shareholders of the Company of HK$414 million for the six months ended 31 December 2020. Gross profit margin was 48.6%, 7.0% higher than the Corresponding Period. Please refer to the Company’s results announcement for the Current Year for further details.

Such financial improvement was attributable to various reasons, including (i) the new infrastructure and strategies instituted by the current management team; (ii) improvement in sales with higher gross profit margin; (iii) positive results of efficient cost control measures; (iv) improved inventory management; and (v) growth in E-commerce.

Although revenue in the Current Year was affected by lockdowns in the Company’s major European markets during the first quarter of 2021, and due to increased restrictions on entry requirements into stores during the fourth quarter of 2021, the Group generated revenue via three main channels: E-commerce, wholesale, and owned retail stores. As the ESPRIT brand website and third-party E-commerce partners continued to trade during lockdown, a large portion of the Group’s sales were generated online. This business model allowed it to mitigate some of the negative impacts of the Pandemic in the retail segment. Another driver of growth came from selling fewer discounted products from the Company’s retail business compared to 2020.

The Group has not forgotten the ESPRIT mission and long-standing commitment to sustainability. The Company has continued to work tirelessly towards developing cutting-edge materials that set new standards in terms of environmental sustainability. The Company has formulated and further advanced its ESG strategies to establish ESPRIT as an industry pioneer. Such strategies involve the greater use of sustainable fibers, developing new and innovative product options that support a circular economy, and ensuring environmental awareness is a key message that underpins all of the Group’s projects. To achieve these objectives, the Management has identified four key pillars of growth (Sourcing and Procurement; Marketing and Product; IT, Internet, and E-commerce; and The ESPRIT Brand Story) that are paramount in maintaining the loyalty of existing ESPRIT patrons and attracting new customers.

Looking ahead, the global economy is anticipated to be negatively affected by the lingering effects of the coronavirus pandemic and the conflict in Ukraine. The already unstable logistics industry and disrupted supply chain will likely be further impacted, which in turn will result in higher logistic service costs. Despite the unfavorable global economic outlook, the Group believes that under the leadership of its current management and with the support of dedicated staff members, the Company is on track to ongoing profit growth.

Source:

FleishmanHillard

Kornit Digital and Fashion-Enter Bring Fashion and Textile Production Back to the UK with Sustainable, On-Demand Digital Manufacturing (c) Kornit
Kornit Digital & Fashion Enter Innovation Centre
08.03.2022

Kornit Digital and Fashion-Enter Bring Fashion and Textile Production Back to the UK with Sustainable, On-Demand Digital Manufacturing

  • Unveil UK’s first-ever sustainable Fashtech Innovation Centre, displaying mass customization capabilities empowering designers, apparel brands, and other creatives

Kornit Digital Ltd. (NASDAQ: KRNT), a worldwide market leader in sustainable, on-demand digital fashionx and textile production technologies and Fashion-Enter - a social enteprise, which strives to be a centre of excellence for sampling, grading, production, and for learning and development of skills within the fashion and textiles industry – today announced a first-of-its-kind Fashtech Innovation Centre in London. Aimed at bringing on-demand fashion and textile mass customization back to the UK, and unveiled on March 3rd and 4th, 2022 at Fashion-Enter's state-of-the-art training and manufacturing site, the Centre is fully supported by Kornit Digital's revolutionary, direct-to-fabric and direct-to-garment digital production solutions.

  • Unveil UK’s first-ever sustainable Fashtech Innovation Centre, displaying mass customization capabilities empowering designers, apparel brands, and other creatives

Kornit Digital Ltd. (NASDAQ: KRNT), a worldwide market leader in sustainable, on-demand digital fashionx and textile production technologies and Fashion-Enter - a social enteprise, which strives to be a centre of excellence for sampling, grading, production, and for learning and development of skills within the fashion and textiles industry – today announced a first-of-its-kind Fashtech Innovation Centre in London. Aimed at bringing on-demand fashion and textile mass customization back to the UK, and unveiled on March 3rd and 4th, 2022 at Fashion-Enter's state-of-the-art training and manufacturing site, the Centre is fully supported by Kornit Digital's revolutionary, direct-to-fabric and direct-to-garment digital production solutions.

According to Kornit Digital’s Impact and Environmental, Social and Governance (ESG) report, 30 percent of textile production is overproduction, while 95 percent of water waste is created as companies globally look towards more sustainable futures with customized, creative, and real-time offerings. Using proprietary streamlined, eco-friendly digital production technologies, Kornit Digital is transforming the fashion industry with more efficient and sustainable processes. According to the same report, by 2026, the Company’s systems will use up to 95 percent less water, 94 percent less energy and produce 83 percent less greenhouse gas emissions.

In addition to highlighting production capabilities that minimize carbon footprint, the Fashtech Innovation Centre serves as a prototype for brands and fulfillers seeking to mitigate logistical complexities, time-to-market, and supply chain risks by bringing production nearer to the end consumer. Eliminating overproduction and producing on demand, this nearshoring model drives profitability even in highly regulated and high-cost markets while contributing to local economies and removing transport-related waste.

Serving as a fulfilment site and academy for training production, the Centre includes both Kornit Presto direct-to-fabric and Kornit Atlas MAX direct-to-garment systems, as well as numerous graphic design and workflow tools and systems to enable cut-and-sew operations for a comprehensive “pixel to parcel to doorstep” cycle. Consolidating the process into a single location helps maintain full visibility and control of operations and products. Taking this one step further for creators and brands, visitors can experience the KornitX Global Fulfilment Network, enabling customers to create both new sales channels and accessibility to enable production on demand. Attendees can see how Kornit’s single-step digital production technology empowers unlimited graphic expression using less floor space, resources, waste, and time—all at higher margins.

“This Innovation Centre makes it possible to capture the full, end-to-end production process in one, single location,” said Jenny Holloway, Chief Executive Officer, Fashion-Enter. “The beauty of having print on demand means there are no minimums, so we can make one garment, or we can make up to 30,000 garments a week from all locations at the same fixed cost. Here, we can also train future generations on the right way of producing garments for today, responsive to demand, with minimal waste—ethical and sustainable. This is the future of fashion and textiles.”

(c) Kornit Digital
25.02.2022

Kornit Digital unveils Ink Manufacturing Site in Israel

Kornit Digital Ltd. announced on 26th January the official opening of its new scalable, state-of-the-art ink manufacturing facility in Kiryat Gat, Israel.  

The modern, 11,000-square-meter facility incorporates advanced automation, sophisticated workflows, and innovative technologies for production optimization. The new high-volume production facility is expected to fulfill global demand for Kornit consumables for the next decade.

Recently completed at an estimated investment of $25 million USD, the facility was built in accordance with the highest quality, safety, and security standards, reflecting the Company’s commitment to environmental, social, and governance (ESG) targets embedded in Kornit Digital’s 2020 Impact Report.

“This is a key milestone in our journey to become a $1 billion company by 2026 and will ensure we can support the tremendous growth our customers are experiencing, for many years to come,” said Ronen Samuel, Kornit Digital’s Chief Executive Officer. “We are proud to lead the charge for a cleaner and more responsive textile industry as we continue to write the operating system for sustainable fashion and textiles on demand.”

Kornit Digital Ltd. announced on 26th January the official opening of its new scalable, state-of-the-art ink manufacturing facility in Kiryat Gat, Israel.  

The modern, 11,000-square-meter facility incorporates advanced automation, sophisticated workflows, and innovative technologies for production optimization. The new high-volume production facility is expected to fulfill global demand for Kornit consumables for the next decade.

Recently completed at an estimated investment of $25 million USD, the facility was built in accordance with the highest quality, safety, and security standards, reflecting the Company’s commitment to environmental, social, and governance (ESG) targets embedded in Kornit Digital’s 2020 Impact Report.

“This is a key milestone in our journey to become a $1 billion company by 2026 and will ensure we can support the tremendous growth our customers are experiencing, for many years to come,” said Ronen Samuel, Kornit Digital’s Chief Executive Officer. “We are proud to lead the charge for a cleaner and more responsive textile industry as we continue to write the operating system for sustainable fashion and textiles on demand.”

Source:

Kornit Digital / pr4u

(c) Indorama Ventures Public Company Limited
20.01.2022

Indorama Ventures’ Group CEO recognized among Top 40 Power Players

The Group CEO of Indorama Ventures Public Company Limited (IVL) has been ranked 12th in the Top 40 Power Players 2022 list announced by the leading chemical market information provider, Independent Commodity Intelligence Services (ICIS). The ranking consists of global CEOs and senior executives who are making the greatest positive impact on their companies and the chemical industry.

This recognition recognises Aloke Lohia’s distinction in leading IVL towards a more sustainable  and purposeful future. He is spearheading IVL’s efforts to meet its sustainability objectives, including strengthening its circular economy and PET recycling initiatives. The company pledged $1.5 billion in investments to meet green targets, including a commitment to increase its global PET recycling capacity to 750,000 tons per year by 2025.

The Group CEO of Indorama Ventures Public Company Limited (IVL) has been ranked 12th in the Top 40 Power Players 2022 list announced by the leading chemical market information provider, Independent Commodity Intelligence Services (ICIS). The ranking consists of global CEOs and senior executives who are making the greatest positive impact on their companies and the chemical industry.

This recognition recognises Aloke Lohia’s distinction in leading IVL towards a more sustainable  and purposeful future. He is spearheading IVL’s efforts to meet its sustainability objectives, including strengthening its circular economy and PET recycling initiatives. The company pledged $1.5 billion in investments to meet green targets, including a commitment to increase its global PET recycling capacity to 750,000 tons per year by 2025.

In 2021, IVL announced it is building a facility in Karawang, Indonesia, to recycle almost 2 billion plastic bottles a year in support of the government’s plan to reduce ocean debris. The company also completed a new PNDA unit in Decatur, Alabama, USA, making it the world’s largest producer. IVL also agreed to acquire Brazil-based Oxiteno, a leading integrated surfactant producer.

The Top 40 Power Players list ranks leaders who demonstrate excellence and vision in the areas of ESG (Environmental, Social, and Governance), innovation, M&A/portfolio management, projects, and profitability/shareholder value. The ICIS also revealed that ESG and sustainability have increasingly played more vital roles in this year’s ranking as they are clearly key components for future growth.

14.01.2022

Indorama Ventures wins “Best Sustainability-Linked Transaction & Best ESG-Linked Financing Deal of the Year”

Indorama Ventures Public Company Limited (IVL) was awarded “Best Sustainability-Linked Transaction & Best ESG-Linked Financing Deal of the Year” for its THB 10 billion Sustainability-Linked Bond (SLB) issued in November 2021.

The award was announced at the 15th Best Deal & Solution Awards 2021 by Alpha Southeast Asia, an institutional publication focused on investment in Southeast Asia. This recognition marks IVL's commitment to sustainable growth and ESG performance as a global leader in the chemical industry.

Yash Lohia, Chairman of ESG Council at Indorama Ventures, said, "This award reflects our long-standing commitment to sustainability and creating opportunities for investors to take part in the positive transformation of the chemical industry. This award confirms that financial markets value our ambitious sustainability and ESG efforts towards a more sustainable future.”

Indorama Ventures Public Company Limited (IVL) was awarded “Best Sustainability-Linked Transaction & Best ESG-Linked Financing Deal of the Year” for its THB 10 billion Sustainability-Linked Bond (SLB) issued in November 2021.

The award was announced at the 15th Best Deal & Solution Awards 2021 by Alpha Southeast Asia, an institutional publication focused on investment in Southeast Asia. This recognition marks IVL's commitment to sustainable growth and ESG performance as a global leader in the chemical industry.

Yash Lohia, Chairman of ESG Council at Indorama Ventures, said, "This award reflects our long-standing commitment to sustainability and creating opportunities for investors to take part in the positive transformation of the chemical industry. This award confirms that financial markets value our ambitious sustainability and ESG efforts towards a more sustainable future.”

IVL's THB 10 billion issuance sets a new benchmark as the largest SLB transaction in Thailand and the first offered to both institutions and high-net-worth investors. The financial instrument is linked to the company's sustainability goals of reducing GHG emissions intensity by 10% by 2025, increasing recycling of PET bale input to 750,000 tons per year by 2025, and achieving 25% renewable electricity consumption in 2030.

IVL appointed Bangkok Bank, Kasikorn Bank, Krungthai Bank, Siam Commercial Bank, and the Bangkok branch of HSBC as as arrangers and bookrunners for the green transaction.

Source:

Indorama Ventures Public Company Limited

(c) Indorama Ventures
18.11.2021

Indorama Ventures included in the Dow Jones Sustainability Indices (DJSI)

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical company, announced its inclusion in the Dow Jones Sustainability World Index (DJSI World) and the Dow Jones Sustainability Emerging Markets Index (DJSI Emerging Markets) for the third and fifth consecutive year respectively. The successive years of DJSI inclusion reflect IVL’s strong commitment to sustainability with globally recognized industry best-in-class practices.

This year, 139 chemical companies were selected from more than 11,000 companies from 61 industries and about 5,300 companies eligible for S&P Global ESG indices. IVL ranked in the 97th percentile with full scores in the areas of environmental and social compliance, enabling policies through industry associations, human rights protections in the workplace and value chain, and sustainable water management including forecasting potential water related risks in operations.

Indorama Ventures Public Company Limited (IVL), a global sustainable chemical company, announced its inclusion in the Dow Jones Sustainability World Index (DJSI World) and the Dow Jones Sustainability Emerging Markets Index (DJSI Emerging Markets) for the third and fifth consecutive year respectively. The successive years of DJSI inclusion reflect IVL’s strong commitment to sustainability with globally recognized industry best-in-class practices.

This year, 139 chemical companies were selected from more than 11,000 companies from 61 industries and about 5,300 companies eligible for S&P Global ESG indices. IVL ranked in the 97th percentile with full scores in the areas of environmental and social compliance, enabling policies through industry associations, human rights protections in the workplace and value chain, and sustainable water management including forecasting potential water related risks in operations.

Yash Lohia, Chief Sustainability Officer at Indorama Ventures, said, "As a global leader, this is an important milestone in our operations as we transform the chemical industry. Our inclusion in the DJSI for the fifth year running is a tribute to how IVL’s operations are contributing to a more sustainable future. Our strategy includes focusing on climate action, aligning with the world's net zero ambitions, strengthening the circular economy and PET recycling with our ambitious targets, and enhancing shared value with our stakeholders.”

The Dow Jones Sustainability Indices (DJSI) are a global benchmark for sustainability-driven companies, evaluating material governance & economic, environmental and social factors.

Source:

Indorama Ventures Public Company Limited

12.11.2021

Stahl to set Scope 3 carbon emission targets by mid 2022

Stahl, an active proponent of responsible chemistry, today announces that – by the end of Q2 2022 – it will extend its GHG reduction targets to cover Scope 3 emissions. This step underlines Stahl’s commitment to aligning its strategy with the 2015 Paris Climate Agreement goals, updated at the recent COP26 in Glasgow.

Between 2015 and 2020 Stahl reduced its Scope 1 and 2 (direct) GHG emissions by 37%, and has committed to a further 2% reduction each year to 2030. Scope 3 emissions cover all the indirect emissions that can occur in a company’s value chain, including raw material acquisition, transportation, and the end-of-life impact of its products. By focusing on Scope 3 emissions, Stahl is committing to de-fossilizing its supply chain and ensuring further accountability for its total environmental impact.

Stahl, an active proponent of responsible chemistry, today announces that – by the end of Q2 2022 – it will extend its GHG reduction targets to cover Scope 3 emissions. This step underlines Stahl’s commitment to aligning its strategy with the 2015 Paris Climate Agreement goals, updated at the recent COP26 in Glasgow.

Between 2015 and 2020 Stahl reduced its Scope 1 and 2 (direct) GHG emissions by 37%, and has committed to a further 2% reduction each year to 2030. Scope 3 emissions cover all the indirect emissions that can occur in a company’s value chain, including raw material acquisition, transportation, and the end-of-life impact of its products. By focusing on Scope 3 emissions, Stahl is committing to de-fossilizing its supply chain and ensuring further accountability for its total environmental impact.

Michael Costello, Stahl Group ESG Director: “Only by focusing on reducing Scope 3 emissions can we accurately align our de-fossilization strategy with the global goal of limiting global average temperature increase to 1.5°C, as agreed at the 2015 Paris Climate Agreement and the COP26 in Glasgow. We look forward to working with partners across our industry and value chain to make this happen.”

More information:
Stahl Stahl Group
Source:

Stahl Holdings B.V.

10.11.2021

Stahl achieves certification for its lifecycle assessment systems in partnership with Spin 360

Stahl, an active proponent of responsible chemistry, has taken an important step toward realizing its target of having lifecycle assessment (LCA) data for all strategic products by the end of 2023. By working closely together with Spin 360, a tech-enabled sustainability consultancy, Stahl has achieved certification of LCA data generation systems, allowing verifiable information to be collected for its products.
LCA is a methodology that measures the impact of any product on the environment over the course of its life. The LCA methodology can provide quantitative data in a format that permits comparisons to be made. The certification of LCA data generation systems is a foundational step to ensuring the accuracy and reliability of future LCA analyses.

Stahl, an active proponent of responsible chemistry, has taken an important step toward realizing its target of having lifecycle assessment (LCA) data for all strategic products by the end of 2023. By working closely together with Spin 360, a tech-enabled sustainability consultancy, Stahl has achieved certification of LCA data generation systems, allowing verifiable information to be collected for its products.
LCA is a methodology that measures the impact of any product on the environment over the course of its life. The LCA methodology can provide quantitative data in a format that permits comparisons to be made. The certification of LCA data generation systems is a foundational step to ensuring the accuracy and reliability of future LCA analyses.

Through close collaboration, Stahl and Spin 360 have implemented an Environmental Product Declaration (EPD) system – certified by Bureau Veritas – at Stahl’s site in Palazzolo, Italy. An EPD is an independently verified and registered document that communicates transparent and comparable information about the environment impact of products across their entire lifecycle. This implementation underlines Stahl’s commitment to enabling the sustainable development of its industry by driving accountability and transparency.

Michael Costello, Stahl Group ESG Director: “One of Stahl’s strategic ESG goals is to collect verifiable, high-quality LCA data for its products, thereby paving the way to lowering the environmental impact of the whole supply chain. This EPD system certification is an important achievement, and a key step in realizing this goal. Looking ahead, we’ll continue to work with our partners to enable our certified LCA data availability and shape a better industry.”

Federico Brugnoli, CEO of Spin 360: “We are very proud to have supported this complex process that will ensure the complete reliability of Stahl’s LCA data. Now we will look at the next steps in supporting Stahl, focusing environmental footprint reductions through science-based evolution of the industry. We’re confident that – together – we can ensure a better future for us all.”

04.11.2021

adidas awarded high ESG rating by S&P for sustainability performance

Following a thorough assessment by rating agency S&P adidas’ sustainability performance has received an outstanding evaluation. Assessed across Environmental, Social and Governance (ESG) dimensions, adidas was awarded with an ESG Profile Score of 79 out of 100. Combined with a strong Preparedness Score (+6), the company’s overall ESG Evaluation Score amounts to 85, placing adidas sixth in the entire S&P Global Rating Universe.

In its assessment, S&P emphasizes adidas’ industry-leading approach to innovation, supply chain management and consumer engagement. In particular, credit is given to adidas’ ambitions to scale the use of sustainable materials, to expand circular services and to deliver against ambitious net-zero emission targets. In addition to adidas’ strong control mechanisms over its supply chain ensuring fair and safe labor practices, the analysis also calls out the integration of a sustainability target into the compensation system of the Executive Board. The close interaction between the Supervisory Board and the Executive Board is seen as exemplary and supportive of the overall strategy execution.

Following a thorough assessment by rating agency S&P adidas’ sustainability performance has received an outstanding evaluation. Assessed across Environmental, Social and Governance (ESG) dimensions, adidas was awarded with an ESG Profile Score of 79 out of 100. Combined with a strong Preparedness Score (+6), the company’s overall ESG Evaluation Score amounts to 85, placing adidas sixth in the entire S&P Global Rating Universe.

In its assessment, S&P emphasizes adidas’ industry-leading approach to innovation, supply chain management and consumer engagement. In particular, credit is given to adidas’ ambitions to scale the use of sustainable materials, to expand circular services and to deliver against ambitious net-zero emission targets. In addition to adidas’ strong control mechanisms over its supply chain ensuring fair and safe labor practices, the analysis also calls out the integration of a sustainability target into the compensation system of the Executive Board. The close interaction between the Supervisory Board and the Executive Board is seen as exemplary and supportive of the overall strategy execution.

More information:
adidas Sustainability S&P
Source:

adidas AG

03.11.2021

Indorama Ventures issues THB 10 billion Sustainability-Linked Bond

Indorama Ventures Public Company Limited issued a THB 10 billion triple-tranche Sustainability-Linked Bond, showcasing the company’s long-standing commitment to sustainable growth. It is the largest SLB issued in Thailand and the first offered to both institutions and high-net-worth investors.

The bond is part of IVL’s financing strategy across a range of instruments linked to the company’s sustainability targets. It is aligned with internationally accepted standards including International Capital Markets Association’s (ICMA) Sustainability-Linked Bond Principles and the Loan Market Association’s (LMA) Sustainability Linked Loan Principles.

The SLB is linked to IVL’s performance of reducing GHG emissions intensity by 10% by 2025 (from a 2020 base), increasing recycling of PET bale input to 750,000 tons per year by 2025, and achieving 25% renewable electricity consumption in 2030.

Indorama Ventures Public Company Limited issued a THB 10 billion triple-tranche Sustainability-Linked Bond, showcasing the company’s long-standing commitment to sustainable growth. It is the largest SLB issued in Thailand and the first offered to both institutions and high-net-worth investors.

The bond is part of IVL’s financing strategy across a range of instruments linked to the company’s sustainability targets. It is aligned with internationally accepted standards including International Capital Markets Association’s (ICMA) Sustainability-Linked Bond Principles and the Loan Market Association’s (LMA) Sustainability Linked Loan Principles.

The SLB is linked to IVL’s performance of reducing GHG emissions intensity by 10% by 2025 (from a 2020 base), increasing recycling of PET bale input to 750,000 tons per year by 2025, and achieving 25% renewable electricity consumption in 2030.

The triple-tranche structure includes 5-, 7-, and 10.5-year tenors, offering coupons of 2.48%, 3.00% and 3.60% per year respectively, targeting asset managers, commercial banks, insurance companies, cooperatives and high-net-worth individuals. With the orderbook peaking at over THB 17.8 billion due to strong interest in the sustainability-linked instrument, oversubscription was around 3x over the planned issuance amount of THB 6 billion with a green shoe option of THB 4 billion. In view of the strong orderbook from the investors, the company decided to exercise the green shoe option and increased the issuance to THB 10 billion, setting a new benchmark as the largest SLB transaction in Thailand. IVL appointed Bangkok Bank, Kasikorn Bank, Krungthai Bank, Siam Commercial Bank, and The Hongkong and Shanghai Banking Corporation Limited, Bangkok Branch as arrangers and bookrunners for the transaction.

On 23 September 2021, the bond was assigned an AA- rating and a “stable” outlook by TRIS Rating following a strong recovery of petrochemicals and derivatives and IVL’s growing profitability.

Under the terms, all tranches must purchase Energy Attribute Certificates (EAC) or voluntary carbon offsets in the event of failure to meet the sustainability performance targets (SPT). The testing dates for tenors with a maturity of 5 and 7 years are 31 December 2025, and 31 December 2030 for the 10.5-year tenor. SPT performance will be independently verified upon the testing dates.Proceeds for the issuance will be used to finance IVL’s corporate working capital and refinance existing debt.

In recent years, IVL secured loans linked to improvements in the company’s sustainability performance as a global leader in environmental, social and governance (ESG) integration. These included Thailand’s first Green Loan of USD 200 million and EUR 200 million from Japan’s Mizuho Bank, Thailand’s first cross-border Sustainability-Linked Ninja Loan worth USD 225 million from 16 institutions in Japan and a Blue Loan of USD 300 million arranged by International Finance Corporation and funded by Asian Development Bank and DEG.

Source:

Indorama Ventures Public Company Limited

11.10.2021

ISKO™ introduces R-TWO™50+

Denim ingredient brand ISKO™ announces R-TWO™50+. Part of Responsible Innovation™, R-TWO™50+ creates high-quality denim that is less harmful to the natural world.

R-TWO™50+ reduces carbon emissions by as much as 45% and water usage by as much as 65%. An exclusive yarn spinning technology, patented by ISKO, uses a minimum of 50% recycled materials to reduce reliance on natural resources.

The fabrics are stronger and more durable, and have a good shape recovery, a soft cotton hand feel and dry up to 20% more quickly.
R-TWO50+ fabrics also have the Global Recycled Standard (GRS) certification, which provides standardised verification for recycled materials.

ISKO is also one of the first in the fashion market to achieve an ESG (Environmental, Social, and Governance) scoring, which measures companies’ sustainability and societal impact.

Denim ingredient brand ISKO™ announces R-TWO™50+. Part of Responsible Innovation™, R-TWO™50+ creates high-quality denim that is less harmful to the natural world.

R-TWO™50+ reduces carbon emissions by as much as 45% and water usage by as much as 65%. An exclusive yarn spinning technology, patented by ISKO, uses a minimum of 50% recycled materials to reduce reliance on natural resources.

The fabrics are stronger and more durable, and have a good shape recovery, a soft cotton hand feel and dry up to 20% more quickly.
R-TWO50+ fabrics also have the Global Recycled Standard (GRS) certification, which provides standardised verification for recycled materials.

ISKO is also one of the first in the fashion market to achieve an ESG (Environmental, Social, and Governance) scoring, which measures companies’ sustainability and societal impact.

More information:
Isko Denim Recycling Sustainability
Source:

ISKO / Menabò Group srl

07.10.2021

Lenzing rated “sustainability champion” by MSCI ESG

The Lenzing Group, leading supplier of wood-based specialty fibers, has received further recognition of its performance in sustainability. The prestigious rating agency MSCI has upgraded its rating for the Lenzing Group from “A” to “AA” as at September 2021. As a result, Lenzing ranks among the top 6 percent of companies rated in its peer group.

The upgrade to the MSCI ESG rating will also lead to a reduction in Lenzing’s interest expense. Lenzing placed a bonded loan worth EUR 500 mn in November 2019, which is linked to its sustainability performance. In accordance with its commitment under the bonded loan placement, the company will donate the full amount of the interest expense saved thanks to the rating revision to a project it supports.

The rating agency MSCI, whose rating determines the interest rate for the bonded loan, cited the company's ambitious climate targets, its approach to promoting a circular economy and exceptionally good governance structure as the main reasons for the upgrade.

The Lenzing Group, leading supplier of wood-based specialty fibers, has received further recognition of its performance in sustainability. The prestigious rating agency MSCI has upgraded its rating for the Lenzing Group from “A” to “AA” as at September 2021. As a result, Lenzing ranks among the top 6 percent of companies rated in its peer group.

The upgrade to the MSCI ESG rating will also lead to a reduction in Lenzing’s interest expense. Lenzing placed a bonded loan worth EUR 500 mn in November 2019, which is linked to its sustainability performance. In accordance with its commitment under the bonded loan placement, the company will donate the full amount of the interest expense saved thanks to the rating revision to a project it supports.

The rating agency MSCI, whose rating determines the interest rate for the bonded loan, cited the company's ambitious climate targets, its approach to promoting a circular economy and exceptionally good governance structure as the main reasons for the upgrade.

More information:
Lenzing Sustainability
Source:

Lenzing AG

14.09.2021

Kornit Digital: 2020 Impact and Environmental, Social, and Governance Report released

Kornit Digital Ltd., a worldwide market leader in digital textile production technologies, released its 2020 Impact and Environmental, Social, and Governance (“ESG”) Report. This inaugural report affirms Kornit’s commitment to achieving specific ESG goals. This includes the way Kornit conducts business, creates meaningful impact in local communities, and achieves environmental sustainability, in addition to how Kornit will continue to build a diverse and inclusive company culture, foster employee growth and development, and empower fair and safe labor practices globally.
 

Kornit Digital Ltd., a worldwide market leader in digital textile production technologies, released its 2020 Impact and Environmental, Social, and Governance (“ESG”) Report. This inaugural report affirms Kornit’s commitment to achieving specific ESG goals. This includes the way Kornit conducts business, creates meaningful impact in local communities, and achieves environmental sustainability, in addition to how Kornit will continue to build a diverse and inclusive company culture, foster employee growth and development, and empower fair and safe labor practices globally.
 
In addition to enabling eco-friendly production processes with technology and consumables that use less water, reduce waste, and minimize the carbon footprint, Kornit technology solutions enable sustainable production on demand, which eliminates overproduction of apparel and other textile goods. A 2021 Life Cycle Assessment conducted on two flagship products, the Kornit Atlas MAX and Kornit Presto S, demonstrated that relative to traditional analog processes, Kornit’s digital production systems used up to 95% less water and 94% less energy, and produced up to 83% less greenhouse gas (GHG) emissions for the Presto S system and up to 93% less water and 66% less energy, and produced up to 82% less greenhouse gas (GHG) emissions for the Atlas MAX system.


Based on this study, in addition to past sustainability performance results and strategic projections for business growth and market expansion, by 2026 Kornit Digital’s sustainable on-demand solutions are expected to enable the production of approximately 2.5 billion apparel items in a responsible manner to deliver:

  • Zero overproduction: By moving the industry to on-demand manufacturing, Kornit will help eliminate the estimated 1.1 billion apparel items overproduced using traditional production methods, based on an industry average of 30% overproduction. This is about 1 apparel item for each and every person living in Europe and North America – saved.
  • Zero water waste: In addition to eliminating overstocks, Kornit-enabled production on demand will support saving an estimated 4.3 trillion liters (1.1 trillion gallons) of water. This is the estimated amount of drinking water needed for the entire U.S. population for 11 years.
  • Reduced CO2 emissions: By enabling sustainable on-demand production, consuming less energy, and generating less waste, Kornit will prevent an estimated 17.2 billion kilograms (37.9 billion pounds) of greenhouse gas emissions, compared to traditional manufacturing methods. This is equivalent to the estimated amount of carbon dioxide emitted from circumnavigating the entire planet with a car nearly 2,400 times.

Furthermore, the report outlines Kornit’s commitment to achieving KPIs that address waste, chemicals, GHG emissions, energy, product development, employee training, diversity and inclusion, and the company’s supply chain.

Source:

pr4u

(c) Indorama Ventures Public Company Limited
16.08.2021

Indorama Ventures acquires Brazil-based Oxiteno

  • Goal: Creating a unique portfolio in high-value surfactants

Indorama Ventures Public Company Limited (IVL), a global chemicals producer, today announced it agreed to acquire Brazil-based Oxiteno S.A. Indústria e Comércio, a subsidiary of Ultrapar Participações S.A. The acquisition gives IVL a unique portfolio in high-value surfactants and significantly extends its existing Integrated Oxides and Derivatives (IOD) business.

IVL will purchase Oxiteno for US$1.3 billion (subject to adjustments at closing), with a deferred payment of $150 million in 2024. The transaction is subject to customary conditions to closing, including approval of relevant regulatory authorities. The transaction is expected to close in Q1 2022 and will be earnings accretive immediately. Financing is secured through deferred payment, using existing extra cash on our balance sheet, free cash flow generated from existing businesses, short term loans against working capital and the balance as long-term debt.

  • Goal: Creating a unique portfolio in high-value surfactants

Indorama Ventures Public Company Limited (IVL), a global chemicals producer, today announced it agreed to acquire Brazil-based Oxiteno S.A. Indústria e Comércio, a subsidiary of Ultrapar Participações S.A. The acquisition gives IVL a unique portfolio in high-value surfactants and significantly extends its existing Integrated Oxides and Derivatives (IOD) business.

IVL will purchase Oxiteno for US$1.3 billion (subject to adjustments at closing), with a deferred payment of $150 million in 2024. The transaction is subject to customary conditions to closing, including approval of relevant regulatory authorities. The transaction is expected to close in Q1 2022 and will be earnings accretive immediately. Financing is secured through deferred payment, using existing extra cash on our balance sheet, free cash flow generated from existing businesses, short term loans against working capital and the balance as long-term debt.

Oxiteno is a leading integrated surfactants producer, catering to highly attractive end-use markets in LATAM. The acquisition brings an excellent management team, world-class expertise in green chemistry innovation, strong customer relationships in Brazil, Uruguay and Mexico, and substantial growth potential in attractive end markets, including the U.S. through a new facility in Pasadena, Texas. Oxiteno has a strong commitment to environmental governance, and its focus on lowering greenhouse gas emissions will also enhance IVL’s ESG credentials.

Source:

Indorama Ventures Public Company Limited

14.04.2021

Resolutions adopted by the virtual Annual General Meeting of Lenzing AG

At the 77th Annual General Meeting of Lenzing AG, which was once again held virtually on April 14, 2021 via livestream due to the COVID-19 pandemic, the members of the Managing Board and Supervisory Board were formally discharged from liability for the business year 2020. KPMG Austria GmbH Wirtschaftsprüfungs- u. Steuerberatungsgesellschaft was appointed to serve as the auditor of the annual financial statements and consolidated annual financial statements for the business year 2021.

Furthermore, the Annual General Meeting adopted the resolution on the compensation to be paid to Supervisory Board members as well as the principles underlying the remuneration of the members of the Managing Board. In addition to financial performance criteria, the remuneration policy of Lenzing AG regulating the multi-year, performance-oriented remuneration paid to the Managing Board members will also be linked in the future to non-financial sustainability criteria (ESG) designed to further promote the sustainable business strategy of Lenzing AG.

At the 77th Annual General Meeting of Lenzing AG, which was once again held virtually on April 14, 2021 via livestream due to the COVID-19 pandemic, the members of the Managing Board and Supervisory Board were formally discharged from liability for the business year 2020. KPMG Austria GmbH Wirtschaftsprüfungs- u. Steuerberatungsgesellschaft was appointed to serve as the auditor of the annual financial statements and consolidated annual financial statements for the business year 2021.

Furthermore, the Annual General Meeting adopted the resolution on the compensation to be paid to Supervisory Board members as well as the principles underlying the remuneration of the members of the Managing Board. In addition to financial performance criteria, the remuneration policy of Lenzing AG regulating the multi-year, performance-oriented remuneration paid to the Managing Board members will also be linked in the future to non-financial sustainability criteria (ESG) designed to further promote the sustainable business strategy of Lenzing AG.

Fully on track strategically
The Managing Board of Lenzing AG presented the business development of the year 2020, a strategic outlook and sustainability strategy including the relevant roadmap to achieve climate targets to the participating shareholders. In 2019, Lenzing made a strategic commitment to reducing its greenhouse gas emissions per ton of product by 50 percent by the year 2030. The goal is to operate in a climate-neutral manner by 2050.

The substantial investments made in Thailand and Brazil not only support Lenzing in its transformation to a supplier of environmentally compatible specialty fibers but also comprise an important milestone on this journey which sustainably increases the company’s enterprise value.

The implementation of these two key projects is proceeding ahead as planned in spite of the direct impacts of the coronavirus crisis. The pulp plant in Brazil is scheduled to be put into operation in the first half of 2022 and will significantly increase Lenzing’s own in-house supply of dissolving pulp. Production in Thailand is expected to commence towards the end of 2021, further raising the share of eco-friendly specialty fibers in the Lenzing product portfolio.

New appointments to the Supervisory Board
Dr. Veit Sorger retired from the Supervisory Board of Lenzing AG on his request effective at the end of the Annual General Meeting. Veit Sorger had been a Member of the Supervisory Board since 2004 (also serving as Deputy Chairman since 2011) and served on various Supervisory Board committees.

The Annual General Meeting elected Dr. Markus Fürst, Managing Director of B&C Industrieholding GmbH, and Thomas Cord Prinzhorn, MBA, CEO of Prinzhorn Holding GmbH, to serve on the Supervisory Board until the end of the Annual General Meeting resolving upon the discharge of the Supervisory Board members for the business year 2024.

Source:

Lenzing AG