LYCRA advances decarbonization with SBTi targets
LYCRA, a global leader in sustainable fiber solutions for the apparel and personal care industries, has achieved a significant milestone with the Science Based Targets initiative (SBTi) approving its near-term emissions reduction targets. The company aims to reduce absolute Scope 1 and 2 greenhouse gas (GHG) emissions by 50 percent by 2030, based on 2021 levels, and to cut Scope 3 GHG emissions from purchased goods and services by 25 percent in the same period.
To lower Scope 1 emissions, The LYCRA Company is transitioning to cleaner energy sources at production sites, including a project in Maydown, Northern Ireland, set for completion by early 2025. For Scope 2 reductions, the company has converted purchased electricity to renewable sources at sites in Foshan, China, and Maydown, with more sites to follow. Additionally, The LYCRA Company collaborates with suppliers like Qore® to develop bio-derived LYCRA® fiber, aiming to convert nearly 30 percent of its spandex capacity over the next few years.
CEO Gary Smith emphasized the importance of these initiatives for both business success and environmental responsibility, highlighting the company’s commitment to reducing its emissions and those of its customers.
Read more: https://www.lycra.com/en/lycra-company-press-center/press-center/science-based-targets-initiative
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