Lenzing Group wants to drastically reduce its CO2 footprint and become entirely carbon neutral by 2050.
The chemical group’s aim is to reach a first achievement for 2030 when it plans to reduce its CO2 emissions per ton of product by almost 50%–both inside its operational boundaries and in its supply chain–compared to a 2017 baseline. Within 2030 it will invest €100 million to reduce its carbon emissions by 1.3 million tons.
“Climate change is the most important issue mankind is facing. With this commitment we are fully in line with the Paris climate agreement and will further help the world to reduce the speed of global warming. Our ambitious decarbonization targets make us a frontrunner, not only in the world of fiber producers but also among major industrial companies. Despite the substantial investment that is necessary, that this is not only a very responsible step but that it will also be a value-generating move as it is our responsibility towards future generations to act now,” said Stefan Doboczky, CEO of the Lenzing Group.
The group will cut its emissions, for instance, by adapting new technologies in current production processes and in new production plants. It will improve energy efficiency and increase the share of renewable energy sources. One current project to achieve this is the transformation from coal to bioenergy at its production site in Nanjing, China.
To reach its goal, Lenzing will commit itself to the Science Based Targets initiative, one of the most recognized organizations in the field of climate-relevant target setting.