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European Climate Pact

Overview

Location

Austria

Sector

Chemicals

Organisation type
Business

Company Information

The Lenzing Group, founded and headquartered in Lenzing, Austria produces specialty fibers made from the renewable raw material wood. Lenzing is listed on the Vienna Stock Exchange and generated revenues of 2.2 billion Euro in 2021 with ~8,000 employees.

Our progress towards decarbonization

 

GHG Emissions

Our actions – the Pathway

  • Lenzing AG has a target to reduce intensity of scopes 1 and 2 CO2e emissions 50% per metric ton of product by 2030 from a base year of 2017. This is a year-on-year reduction rate of 3.8% per metric ton of product over the next 9 years

Pledge: Have a short-medium term GHG emissions reduction target (scope 1+2) with a 2.1% year-on-year reduction at a minimum

MRV: Pact MRV in place

Status date: Submitted (29/07/2022)

Data source: CDP Climate Change 2022

How we want to achieve this – our roadmap

  • Have a short-medium term GHG emissions reduction target (scope 1+2) with a 2.1% year-on-year reduction at a minimum
  • Have an internal price on carbon 
  • Have an initiative in place to drive GHG emissions reduction through energy efficiency in production processes
  • Have scope 1+2+3 GHG emissions verified through a third party verification or assurance process 

MRV: Pact MRV in place

Status date: Submitted (29/07/2022)

Data source: CDP Climate Change 2022

 

Forests

Our actions – the Pathway

  • Work with direct suppliers to support and improve their capacity to comply with our forests-related commitments, policies, and other requirements
  • Work with smallholders along the company's value chain to support good agricultural practices and reduce deforestation or conversion of natural ecosystems through financial or technical assistance
  • Publicly disclose data on forest-related impact to investors through a public platform
  • Have a publicly available forest policy, with well-defined goals and targets, that is used to inform internal decision-making
  • Have board-level oversight of forests-related issues
  • Have forests issues be fully integrated in all parts of long-term strategic business plans
  • Assess company and suppliers' compliance with forests regulations and/or mandatory standards when sourcing commodities from regions with high deforestation risk 
  • Have a system to control, monitor, and verify compliance with no-deforestation policies/commitments that covers all relevant operations and supply chains and shows more than 90% of total volume in compliance

MRV: Pact MRV in place

Status date: Submitted (29/07/2022)

Data source: CDP Forests 2022

 

Water

North Star

  • Lenzing AG have a % reduction in concentration of pollutants target by 2022 from a base year of 2014 starting in 2019

MRV: Pact MRV in place

Status date: Submitted (29/07/2022)

Data source: CDP Water 2022

How we want to achieve this – our roadmap

  • Have a target to reduce water pollution 
  • Publicly disclose data on water-related impact to investors through a public platform
  • Have board-level oversight of water issues
  • Integrate water-related issues into the company's financial planning
  • Integrate water-related issues into the company's long-term business objectives
  • Integrate water-related issues into the company's strategy to achieve long-term business objectives
  • Regularly monitor and measure key water security metrics at least for 75% of the company's facilities

MRV: Pact MRV in place

Status date: Submitted (29/07/2022)

Data source: CDP Water 2022

 

Governance & Strategy

North Star

  • Lenzing AG have a publicly available 1.5°C aligned low-carbon transition plan

MRV: Pact MRV in place

Status date: Submitted (29/07/2022)

Data source: CDP Climate Change 2022

How we want to achieve this – our roadmap

  • Publicly disclose climate and environmental data to investors and customers through a public platform
  • Have board-level oversight of climate-related issues
  • Have a process for identifying, assessing, and responding to climate-related risks and opportunities
  • Have an employee engagement strategy to support and contribute to achieving the company's climate and environmental goals

MRV: Pact MRV in place

Status date: Submitted (29/07/2022)

Data source: CDP Climate Change 2022

 

Value chain engagement

Our actions – the Pathway

  • Have a supplier engagement strategy designed to offer financial incentives for suppliers who reduce upstream GHG emissions (Scope 3)
  • Have an ongoing and transparent dialogue with our value chain around climate-related issues

MRV: Pact MRV in place

Status date: Submitted (29/07/2022)

Data source: CDP Climate Change 2022