The Lycra Company published its third annual Sustainability Update and its abridged Global Sustainability Scorecard for fiscal year 2023, which detail the progress made to achieving its 2030 sustainability goals.
The Lycra Company’s sustainability framework, “Planet Agenda,” encompasses all aspects of its business and includes three pillars:
- Product Sustainability
- Manufacturing Excellence
- Corporate Responsibility
The sustainability goals outlined in the company’s third annual report are structured around these pillars and align with five 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 at 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 in the commercialization of bio-derived Lycra fiber made with QIRA;
- Introducing industrial compostable Lycra fiber for the personal care segment;
- Extending technologies that add durability to the company’s Lycra Adaptiv fiber portfolio; and
- Reducing Scope 1 and Scope 2 emissions by 26 percent from the previous year.
The company’s update follows its recent approval of its near-term science-based emissions reduction targets by the Science Based Targets Initiative (SBTi).
The Lycra Company said it has committed to reduce absolute Scope 1 and Scope 2 GHG emissions by 50 percent by 2030 from a 2021 base year. In addition, the company said it will reduce absolute Scope 3 GHG emissions by 25 percent within the same period.
