DE-THE-LYCRA-COMPANY
6.8.2024 11:01:37 CEST | Business Wire | Press release
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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