Lenzing doubles down with first joint annual, sustainability report
In its first-ever combined annual and sustainability report, Austrian fibre producer Lenzing has “reaffirm[ed] the strategic importance of social and environmental responsibility,” yet registered a 1.7% decline in revenue to $2.7 billion or €2.5 billion.
The document, titled ‘Ready to join?’, covers the 12 months of 2023.
Among its highlights, the report records Lenzing’s approximately $215 million (€200 million) investment in modernising existing manufacturing facilities in both China and Indonesia.
The group notably achieved EU Ecolabel approval for its Ecovero and Veocel viscose brands at the latter during the fiscal year. Lenzing published its first online sustainability report in 2022.
Chief executive, Stephan Sielaff, said: “Lenzing is working tirelessly to make the industries in which it operates even more sustainable and to drive the transformation of the textile business model from linear to circular.
“For this transformation to be successful, further efforts by the entire industry and a policy designed to ensure a level playing field for sustainability pioneers are needed.
“Let us rethink structures and processes and work together to bring about positive change!”
Image: Lenzing.
