The LYCRA Company Makes Significant Progress on Decarbonization Plan With SBTi Approving Near-Term Emissions Reduction Targets
06 Agosto 2024 - 4:00AM
Business Wire
The LYCRA Company, a global leader in developing innovative and
sustainable fiber and technology solutions for the apparel and
personal care industries, has announced that the Science Based
Targets initiative (SBTi) has approved its near-term science-based
emissions reduction targets.
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The LYCRA Company has announced that the
Science Based Targets initiative (SBTi) has approved its near-term
science-based emissions reduction targets. (Photo: Business
Wire)
The SBTi has validated that the company’s Scope 1 and 2
greenhouse gas (GHG) target ambitions align with a 1.5-degree
Celsius trajectory, as recommended by the Paris Agreement. The
LYCRA Company has committed to reduce absolute Scope 1 and 2 GHG
emissions by 50 percent by 2030 from a 2021 base year. In addition,
the company will reduce absolute Scope 3 GHG emissions from
purchased goods and services by 25 percent within the same
timeframe.
“This has been a two-year effort to identify and select the best
options for our business and create a road map for carbon
reduction,” said Robert Johnston, executive vice president of
operations at The LYCRA Company. “That plan includes changes to our
processes, products, and key ingredients, as well as securing
buy-in from internal and external stakeholders.”
To reduce Scope 1 emissions, The LYCRA Company is moving to
lower-impact energy sources at its production sites. Work is
already underway to convert its Maydown, Northern Ireland, site to
cleaner fuel sources, with project completion anticipated by the
first quarter of 2025.
By converting purchased electricity to renewable sources through
Energy Attribute Certificates, The LYCRA Company is also reducing
its Scope 2 emissions. This has been completed at production sites
in Foshan, China, and Maydown, Northern Ireland. Two additional
sites are being converted over the next two years.
The LYCRA Company also works with ingredient suppliers to
convert to lower-impact inputs to reduce its Scope 3 emissions. An
example is the company’s collaboration with Qore® to use its brand
QIRA® to develop and commercialize bio-derived LYCRA® fiber at
scale. Over the next several years, nearly 30 percent of the
company’s current spandex capacity will be converted to bio-derived
LYCRA® fiber.
“We are committed to making positive change in our industry and
have set ambitious emission targets because we believe it’s
essential for business success, but more importantly, it’s the
right thing to do,” said Gary Smith, The LYCRA Company’s CEO. “By
making these changes, we can help reduce not only our emissions but
those of our customers as well.”
About The LYCRA Company
The LYCRA Company is a leading global fiber and technology
solutions provider to the apparel and personal care industries
committed to offering sustainable products using renewable, pre-,
and post-consumer recycled ingredients that reduce waste and help
set the stage for circularity. Headquartered in Wilmington,
Delaware, United States, it owns the LYCRA®, LYCRA HyFit®, LYCRA®
T400®, COOLMAX®, THERMOLITE®, ELASPAN®, SUPPLEX® and TACTEL®
brands. The LYCRA Company adds value to its customers’ products by
offering unique innovations that meet the consumer’s need for
comfort and lasting performance. Learn more at lycra.com.
LYCRA® is a trademark of The LYCRA Company. QIRA® is a trademark
of Qore®.
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Karie J. Ford Karie.J.Ford@lycra.com