WILMINGTON, Del.--BUSINESS WIRE--
The LYCRA Company, a global leader in developing durable, sustainable and innovative fiber and technology solutions for the apparel and personal care industries, has announced the publication of its third annual Sustainability Update and its abridged Global Sustainability Scorecard for fiscal year 2023. These documents detail the company's progress toward achieving its 2030 sustainability goals.
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The LYCRA Company has published its third annual Sustainability Update and its abridged Global Sustainability Scorecard for fiscal year 2023. These documents detail the company's progress toward achieving its 2030 sustainability goals.
The LYCRA Company's sustainability framework, known as Planet Agenda, encompasses every aspect of its business and includes three pillars: product sustainability, manufacturing excellence, and corporate responsibility. The sustainability goals outlined in these documents are structured around these pillars and are aligned with five of the United Nations Sustainable Development Goals (SDGs).
"Our latest sustainability update demonstrates our long-term commitment towards a more sustainable future," said Steve Stewart, chief brand and innovation officer of The LYCRA Company. "Delivering on our ambitions to drive meaningful change as we make progress against our 2030 goals inspired this year's theme, Turning Ambition into Impact."
Highlights of the 2023 Sustainability Update include advances on the commercialization of bio-derived LYCRA® fiber made with QIRA®, the introduction of industrial compostable LYCRA® fiber for the personal care segment, the extension of technologies that add durability to the LYCRA® ADAPTIV fiber portfolio, and a 26% reduction in Scope 1 and 2 emissions from the previous year.
This announcement follows the company's recent Science Based Targets initiative (SBTi) approval of its near-term science-based emissions reduction targets. 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 by 25 percent within the same timeframe.
